China Construction Bank (CCB) will act as the agent bank to issue the listed open-ended fund (LOF) of ABN AMRO Xiangcai Fund Management Co. Ltd. from March 30 to April 28, 2006.

Founded in 2002, ABN AMRO Xiangcai Fund Management Co. Ltd. is one of the first joint ventures in fund management in China, with ABN AMRO Asset Management Asia under the world-renowned financial group of ABN AMRO as its foreign shareholder. ABN AMRO is a prominent international bank, its history going back to 1824, and with the largest investment in China among all European banks. ABN AMRO Asset Management mainly focuses on asset management business. ABN AMRO Xiangcai Fund Management is equipped with a team of experienced investment professionals with international background, and has already been rewarded many awards in this sector based on its excellent investment performance. At present, the Company has six open-ended funds and its investment performance of all its equity funds have maintained high compared with other ones. As of March 29, the accumulated net value of Xiangcai Hefeng growth fund was 1.4041; Xiangcai Hefeng cycle fund 1.3949; Xiangcai Hefeng stable fund 1.2718; ABN AMRO Xiangcai selected fund 1.2359; ABN AMRO Xiangcai budget fund 1.0942; and the return of ABN AMRO Xiangcai money market fund per 10,000 was 0.3557.

The objective of ABN AMRO Xiangcai LOF is “to mainly invest in the listed companies with relatively high return and also invest in quality bonds to gain a yield bigger than the performance benchmark for investors.” The product has the following characteristics: first, belonging to Hybrid Fund with moderate risks. Its investment in stocks will range from 50% to 70%, bonds 25% to 45%, and cash will be maintained above 5%. It will be invested in stock market and bond market at the same time and adopt a balanced strategy in line with the market trend to manage and control risks; second, driving to grasp economy transformation opportunities. It will mainly invest in companies with relatively high return and grasp chances in light of economic development trend to create wealth; third, establishing an internationalized investment platform and risk management system. ABN AMRO Xiangcai Fund Management has already introduced and successfully built up an investment management system with risk management as the core to reduce investment risks and be committed to excessive reward for investors.

At present, CCB and ABN AMRO Xiangcai Fund Management Co. Ltd. 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. If you have any inquiry, you can call CCB Service Hotline: 95533.