Industrial Bank Co., Ltd.

Announcement on Resolutions of the 15th

Session of the 7th Board of Directors

The Company and all the members of the board of directors warrant the truthfulness, accuracy and completeness of the announcement and will bear the joint and several liabilities for any false record, misleading statement or major omission in the announcement.

The 15th session of the 7th board of directors of Industrial Bank Co., Ltd. sent the notice on November 2, 2012, and was held in Fuzhou on November 9. All the 15 directors who should be present attended the session (Director Chua Phuay Hee entrusted Board Chairman Gao Jianping to attend the session on his behalf and exercise the voting right regarding the matters deliberated at the session), which met relevant provisions of the Company Law of the People’s Republic of China and the articles of association. Eight supervisors of the Company attended the session.

Upon deliberation, the session approved the following proposals through voting:

I. Proposal on engaging Mr. Chen Jinguang to serve as vice president. With the nomination of the president and the examination of the nomination committee of the board of directors, the board of directors agreed with the engagement of Mr. Chen Jinguang to serve as vice president of the Company. The basic information of Mr. Chen Jinguang is as follows:

Chen Jinguang, male, born in November 1961, an associate degree holder with the title of economist, has served as president of Pudong Sub-branch of IB Shanghai Branch, a member of CPC committee and vice president of IB Shanghai Branch, Party secretary and president of IB Ningbo Branch, and Party secretary and president of IB Chengdu Branch. He currently serves as Party secretary and president of IB Beijing Branch.

Voting result: 15 vote of consent, 0 vote of opposition, and 0 vote of waiver.

II. Proposal on engaging Mr. Xue Hefeng to serve as vice president. With the nomination of the president and the examination of the nomination committee of the board of directors, the board of directors agreed with the engagement of Mr. Xue Hefeng to serve as vice president of the Company. The basic information of Mr. Xue Hefeng is as follows:

Xue Hefeng, male, born in March 1969, a holder of bachelor degree, has served as vice manager of the outlet department of IB Fuzhou Branch, vice director (in charge of operation) of Majiang Office of IB Fuzhou Branch, general manager of the credit management department and president of Chaowai Sub-branch of IB Beijing Branch, general manager of the risk management department of IB Beijing Branch, a member of CPC committee, president assistant and general manager of the risk management department of IB Beijing Branch, and a member of CPC committee and vice president of IB Beijing Branch. He currently serves as Party secretary and president of IB Shenzhen Branch.

Voting result: 15 vote of consent, 0 vote of opposition, and 0 vote of waiver.

II. Proposal on engaging Mr. Li Weimin to serve as vice president. With the nomination of the president and the examination of the nomination committee of the board of directors, the board of directors agreed with the engagement of Mr. Li Weimin to serve as vice president of the Company. The basic information of Mr. Li Weimin is as follows:

Li Weimin, male, born in November 1967, a holder of bachelor diploma and master degree with the title of senior accountant, has served as vice manager and manager of the business department of IB Fuzhou Branch, president assistant and general manager of the office IB Fuzhou Branch, a member of CPC committee and vice president of IB Fuzhou Branch, a member of CPC committee and vice president of IB Nanjing Branch, Party secretary and president of IB Zhangzhou Branch, and Party secretary and president of IB Zhengzhou Branch. He currently serves as Party secretary and president of IB Fuzhou Branch.

Voting result: 15 vote of consent, 0 vote of opposition, and 0 vote of waiver.

IV. Proposal on formulation of the Plan for Implementation of New Regulatory Standard (2012-2016). The plan requires the Company: to make vigorous adjustment to business structure and transform the development mode in combination with the actual situation of the Company by learning from advanced experience of peers both at home and abroad, under the guidance of the new regulatory standard and spirit of China Banking Regulatory Commission; to intensify overall capital management, improve the capital distribution efficiency, and further improve the risk management level so as to enhance the quality of development; to complete the measuring and statistical system for all indicators including capital adequacy, leverage ratio, provision ratio, and liquidity, improve the internal capital assessment procedure, and boost the orderly and steady development of all businesses in accordance with the requirements of the Company’s Development Plan Outline 2011-2015 so as to ensure that the Company can meet the given standards in an all-round way and in a timely manner in accordance with the regulatory rules of the Guiding Opinions on the Implementation of the New Regulatory Standards in China's Banking Sector and the Measures on the Administration of Capital of Commercial Banks (Interim).

Voting result: 15 vote of consent, 0 vote of opposition, and 0 vote of waiver.

V. Proposal on adjustment of budget for the write-off of non-performing debts in 2012. The session agreed to increase an amount of RMB 900 million to the budget for write-off of non-performing debts in the year, and the write-off of specific non-performing debts shall be handled in accordance with the relevant provisions of the Company’s articles of association.

Voting result: 15 vote of consent, 0 vote of opposition, and 0 vote of waiver.

The session listened to some reports including the Report on the Business Performance from January to September 2012 and the Report on Progress in the Implementation of New Capital Agreement.

Board of Directors of Industrial Bank Co., Ltd.

November 12, 2012