CMBC Announcement

Announcement on the Resolutions of the 24th Meeting of the 4th Session BOD

2008-12-31

The 24^th meeting of the 4^th session BOD of the Bank was convened by mail voting. The voting deadline was December 30, 2008 and the meeting notices and documents were sent out via emails on December 20, 2008. 17 out of 18 voting forms were collected. Director Tow Heng Tan didn’t participate in the voting due to leave on vocation. The meeting complied with the rules and regulations under the Company Law and the Articles of Association and the resolutions made are legal and effective.

The meeting reviewed and passed the Proposal on Writing off Dead Loans of the Bank. The meeting noted that: Union Friend Industry (Group) Co., Ltd. (UFG) was in default on RMB 54.79 million of loan principal of the Bank, Wuhan Zhengxin State-owned Assets Management Co., Ltd. was in default on RMB 96 million of loan principal of the Bank; Shifang Bashu Electric Power Development Co., Ltd. and Sichuan Miaoxian Jiyu Hydro Power Development Co., Ltd. were respectively in default on RMB 68 million and RMB 80 million of loan principals of the Bank due to the earthquake in Wenchuan during May 2008. As of December 28, 2008, the total non-performing loan principals caused by the above four companies amounted to RMB 298,793,946.00, while interest receivables due totaled RMB 66,321,516.20. These NPL fulfilled the write-off conditions of the Bank and were consented to be written off (at the actual amount of principals and interests as at the date of writing-off).

Voting result: Affirmative: 17 votes; Negative: 0 vote; Abstention: 0 vote.

Board of Directors

China Minsheng Banking Corp., Ltd.

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