2010-03-17 Announcement on Related-Party Transaction

2010-3-17

I. Overview of the transaction

The 4^th meeting of the Related-Party Transaction Control Committee of the 5^th Board of Directors in 2010 reviewed and passed the Proposal on Granting Related-Party Credit Lines to Lenovo Holdings Ltd., and consented to grant RMB 550 million of one-year-term comprehensive credit lines to Lenovo Holdings Ltd.. Beijing Legend Capital Limited shares the joint liability guaranty. The types of credit include: working capital loans, bank acceptance bills, non-financing L/G (limited to tender guarantee, performance guarantee, tariff guarantee, quality guarantee and advance payment guarantee. Of which, the interest rate of loans implements benchmark interest rate and the intermediary business does not require the money of guarantee.  

II. Withdrawal

The related director was withdrawn from the voting on the above related-party transactions.

III. Impact of the related-party transactions

The related-party transaction is a normal credit business of the Bank which has no material impact on the Bank’s business operations and financial condition.

IV. Opinion of the Independent Directors

The Bank’s granting of RMB 550 million of comprehensive credit lines to Lenovo Holdings Ltd. complies with the relevant rules and regulations promulgated by the regulatory authorities including CBRC, CSRC and the Shanghai Stock Exchange, and its application and approval process comply with the rules and regulations under the Articles of Association and the Administrative Measures on Related-Party Transactions of the Bank. The transaction is fair and no damages to lawful interests of other shareholders are identified.

Board of Directors

China Minsheng Banking Corp., Ltd.

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