Dear Customers:

Since it began operating on March 22nd 2007, the first batch of CCB Wealth No. 2, an RMB closed end trust fund, has been carrying out prudent investments and the resulting earnings have been respectable.  As at December 31st 2007, it recorded an actual yield of 44.98% (before fee deductions) and an annualised yield of nearly 60%, far exceeding the expected annualised yield of 8%.

An arbitrage strategy of “transition from a closed end fund to an open end fund” has been adopted as the main investment operation of this product.  As the investment process of this strategy usually takes 2-3 months for completion and in view of the fact that the maturity of this product will be in March 2008, the continued adoption of these strategy is no longer viable.  In order to lock in the earnings of this product, to protect the interests of its investors and to enhance utilisation efficiency of its investment capital, CCB, CITIC Trust and China International Capital Corp (the latter two are respectively trustee and investment manager of the fund) have arrived at an unanimous agreement to terminate this product in advance on January 15th 2008.  This termination is in accordance with the Prospectus of the First Batch of CCB Wealth No. 2 Closed End Renminbi Trust Fund which stipulates that CCB has the right to terminate this product in advance.  Investor principals and earnings will be booked into investors’ accounts within 10 business days of the termination date.

We thank you for your attention.

China Construction Bank

January 11th 2008