BOC Signs RMB50 billion Strategic Cooperation Agreement with SDIC

On March30th, 2006, BOC held the signing ceremony in Beijing for the RMB 50 billion strategic cooperation agreement with SDIC (State Development & Investment Corp.). Li Lihui, President of BOC and Wang Huisheng, President of SDIC, were present on the signing ceremony.

SDIC is the largest state-owned investment holding company in China. Since its establishment a decade ago, SDIC has integrated and restructured assets to aggressively develop its core business. SDIC started its second deploitation in 2003, and formed a business framework featured by mutual support and coordinated development of industrial investment and service business.

SDIC is committed to fundamental and resource industries such as electric power, coal, harbor navigation and chemical fertilizer as well as such service business as finance, assets management and consulting. It has preliminarily completed the strategic arrangement of the second deploitation and maintains a sustainable, rapid and healthy development.

As a time-honored international bank, BOC integrates commercial banking, investment banking and insurance business to provide comprehensive financial support to China s economical development relying on its global network, excellent performance and outstanding international reputation. SDIC has become one of the most important high quality customers of BOC. The two parties are facing increasingly broad cooperation perspective.

According to the strategic cooperation agreement, BOC and SDIC will cooperate in all aspects including financing facilitation, international settlement, liability management, cash management, investment banking business and insurance business. The signing of the agreement fully demonstrates the long-term strategic partnership of mutual trust and benefits between BOC and SDIC.

BOC will carry over its heritage of credit utmost and aggressive enterprise to draw on its strengths and share resources with SDIC, give full play to the bank-enterprise cooperation advantage, and continuously provide SDIC with high quality, efficient and comprehensive financial services. The two parties will continue active and effective cooperation in varies businesses.

The signing of the strategic cooperation agreement will open a new page for the more extensive cooperation between BOC and SDIC.

Present on the signing ceremony were heads from related departments of the Head Office, Beijing Branch, Tianjin Branch, Hebei Branch of BOC, BOC International Holdings Limited, BOC Group Investment Limited, units of SDIC, SDIC Coal, SDIC Communication and SDIC Huajing.