CCB will issue the Hua An Hongli Equity Fund on an agent basis from August 4 to September 1, 2006.

Established in June 1998, Hua An Fund Management Co. Ltd. (Hua An) is one of China’s first fund management companies approved by the China Securities Regulatory Commission (CSRC). Based in Shanghai, the company has a registered capital of RMB1.5 billion. Since September 2001 when Hua An launched the first open-end fund in China, it has had 4 close-end funds including Anxin, Anshun, Anjiu and Anrui and 5 open-end funds including Hua An Innovations, Hua An China A Share, Hua An Fuli, Hua An 180 ETF and Hua An Baoli under its management. As of June 30, 2006, the assets under its management have valued at RMB34.5 billion, making it the one of the largest fund management companies in China. In February 2006, Hua An was ranked by China Securities as the “Golden Bull Fund Management Company of 2005”. It also won a number of awards from the well-known Asian journal Asia Asset Management.

The investment objective of Hua An Hongli Fund is to “maintain the stable value growth of fund assets by obtaining sustained capital gain created in the process of price’s return to value as well as dividend income”. The fund has the following features: first, making active investment. The equity investment portfolio is maintained within 60-95% of the net value of fund assets. Its risks and expected yield are higher than those of hybrid, bond and money market fund; second, the fund mainly makes centralized and portfolio investment in large value stocks or large dividend stocks with emphasis on margin of safety. Its investment priority includes the large stocks with higher “margin of safety” or sustained dividend income so as to enjoy capital gain with lower risks and stable dividend; third, the fund manager has sound historical performance. Winning 2 awards of China Securities, the company has maintained sound performance of funds under its management despite market fluctuations.

Since the debut of fund agency issuance services, CCB has been committed to providing investors with quality, fast and sophisticated services in line with the “customer-oriented” business philosophy. In case of the Hua An Hongli Equity Fund, CCB and Hua An have got well prepared in terms of staff training, marketing and customer services. Investors will soon be able to subscribe the fund at nearly 14,000 CCB outlets nationwide. Please call CCB customer service hotline 95533 for more details.