Bank of China and Visa Forge Olympic Alliance

Jan. 23rd, 2007, Beijing ? Bank of China and Visa jointly announced today that the two sides have concluded Framework Agreement for Strategic Alliance in Relation to the Beijing 2008 Olympic Games (hereafter referred to as the Agreement) and thus entered into a strategic Olympic alliance.

As part of the Agreement, the two parties will jointly develop and promote Olympic-related products and services, upgrade the infrastructure of existing E-payment systems, provide outstanding financial services and card acceptance environment, in the hope to satisfy the payment needs of Olympic participants from around the world.

The two sides are to enhance cooperation in such fields as on-site ATM and POS, Olympic ticketing sale, Olympic licensed merchandise sales, and Olympic-themed innovated products. In addition, BOC and Visa will jointly promote Visa Olympic-themed cards and expand merchant acceptance networks in Olympic cities.

As official banking partner of the 2008 Beijing Olympic Games, BOC is the exclusive provider of commercial and investment banking products and services. Meanwhile, leveraging on its extensive outlet network, the Bank is actively engaged in BOCOG s Licensing Program and Ticketing Program, contributing significantly to the marketing and preparation of the 2008 Olympic Games and Paralympics.

As member of the Olympic Partnership Program (TOP), Visa is the exclusive official payment card brand and payment service provider designated by the International Olympic Committee (IOC). Since 1986, Visa has been committed to the development and advancement of E-payment systems and the tourist promotion for Olympic host cities and countries.

To further backup the Beijing 2008 Olympic Games and Paralympics, Visa is actively working with local partners in China including the China National Tourism Administration and the Beijing Tourism Administration to improve the tourist payment environment.

The alliance between BOC and Visa opens a new prospect for closer collaboration between the two sides and marks a milestone for the two leading brands to build a win-win partnership in Olympic scenario.

Hua Qingshan, Executive Director and Vice President of Bank of China pointed out, "The strategic Olympic alliance between Bank of China and VISA marks a new milestone in bilateral cooperation and will further strengthen the existing long-standing strategic partnership between the two sides. As official partners of Olympic Games, Bank of China and Visa will both adhere to the philosophy of Green Olympics, High-Tech Olympics and People s Olympics , and provide the best possible services to the Beijing Olympic Games and Paralympics.

In the upcoming crucial years, the two sides are dedicated to serving the Olympics, the market, the consumers and the society as a whole in good faith and enhanced efforts, and to jointly uphold Beijing and the other co-host cities to deliver the solemn commitment of staging a high-level Olympic Games with distinctive features ".

Tom Shepard, Executive Vice President of Global Sponsorship and Partnerships of VISA remarked, "The partnership between VISA and BOC further deliver the commitment of the two sides of driving China s Olympic economy. With a twenty-year-history of Olympic partnership, VISA has accumulated rich experiences and resources, on which we are fully committed to leveraging to build a payment system that will surely contribute to the success of the Games."

At the signing ceremony, Visa also premiered a TV commercial starring the famous movie star Jackie Chan, which highlights the Beijing Olympic Games.