Minsheng Bulletin

Announcement on the Result of the Stock Private Placement and the Changes in Shares

2007-6-27

June 27, 2007

Importance Notice:

1.Issuing volume and price:
Share type: RMB shares (A Share)
Issuing volume: 2.38 billion shares
Issuing price: RMB 7.63/share
Amount of proceeds: RMB 18,160,000,000

2. Volume of subscription by institutions and lock-up period

3.Estimated listing time
The shortest lock-up period for the issuance is 12 months. Stocks with shortest lock-up period, commencing June 22, 2007, are estimated to be tradable on June 23, 2008.

4.Transfer of assets
All stocks will be subscribed by cash, with no involvement of asset transfer.

For more information, please find the issuance brochure published on the website of the Shanghai Stock Exchange at: www. sse.com.cn.

1.Result of the Issuance

The lock-up period of the above institutions’ subscriptions commenced on June 22, 2007, the registration date of the issuance at the China Securities Depository & Clearing Corp. Ltd. Shanghai Branch. Stocks subscribed by Shanghai Giant Life Technology Co., Ltd., New Hope Investment Co., Ltd., China Fanhai Holding Group Co., Ltd., Sichuan South Hope Industry Co., Ltd. and China Ping An Life Insurance Co., Ltd. can be tradable on June 23, 2008. Stocks subscribed by Everbright Securities Co., Ltd. can be tradable on July 23, 2008 and stocks subscribed by China Life Insurance Co., Ltd. can be tradable on August 23, 2009.

2. Changes in the Ten Largest Shareholders of the Bank After the Issuance
1)Ten Largest Shareholders and Shares Held Before the Issuance (After the Closing on June 21, 2007)

2)Ten Largest Shareholders and Shares Held After the Issuance (After the Closing on June 22, 2007)

3. Changes in Equity After the Issuance

The unrestricted shares as at June 21, 2007 increased 10,878 shares from 7,316,507,708 shares as at June 5, 2007, which were the shares converted from “Minsheng Convertible Bonds” (100016).　　

4. Discussion and Analysis of the Management
1)Impact on EPS and NAV per share

2)Impact on corporate governance of the Bank
After the issuance, China Life Insurance Co., Ltd. and China Ping An Life Insurance Co., Ltd. entered into the ten largest shareholders list, which will help to further improve the Bank’s corporate governance and business expansion.

3)Impact on future operations of the Bank
All proceeds of the issuance will be used to supplement core capital and raise capital adequacy ratio of the Bank, which include:
(1)Capital appropriation for operations in branches and sub-branches;
(2)Purchase of fixed assets and improvement in IT platform;
(3)Liquidity improvement of assets.
　

Board of Directors
China Minsheng Banking Corp., Ltd.

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