CCB will issue money market fund for ICBC Credit Swiss on an agent basis from February 23 to March 13, 2006.

It is said that the investment objective of ICBC Credit Swiss’ money market fund is to “gain a stable yield bigger than the benchmark (post-tax interest income of six-month bank term deposit) on the precondition of maintaining the sound liquidity of the principal”. The product has the following characteristics: first, safety of principal and stable yield. The fund is mainly invested in such money market instruments as short-term bonds, central bank paper and bond buyback. The less than 180 days of weighted average years to maturity gives the fund security and liquidity; second, low investment cost and great convenience. The fund requires no application, subscription or redemption fee and it takes a short period for the redemption fund to be paid. Investors generally can use the fund from T+2; third, income tax exemption. Fund shares are carried over on a monthly basis and the fund dividend is tax free; forth, bank background ensures sound investment. ICBC Credit Swiss is a joint venture fund management company directly established and controlled by the Industrial and Commercial Bank of China. Its foreign shareholder Credit Suisse First Boston is a well-known global financial institution with strong research capacity and global market management experiences.

Since the launch of agency fund sales, CCB has been following the “customer-oriented” philosophy to accumulate experiences with the purpose of providing investors with quality, convenient and comprehensive services. At present, CCB and ICBC Credit Swiss have made sound preparations for issuing the fund in terms of employee training, marketing and customer services. Later investors will be able to subscribe the fund at over 14,000 CCB outlets nationwide.