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CITIC Ka Wah Bank

is a Hong Kong bank majority owned by CITIC.

It is a subsidiary of CITIC International Financial Holdings.

CITIC Ka Wah Bank Limited (the "Bank") is a wholly-owned subsidiary of CITIC International Financial Holdings Limited, which in turn is 55%-owned by CITIC Group as at 31 July 2007.

By providing value-creating financial solutions to define and exceed both the wealth management and international business objectives of our Greater China and overseas customers, the Bank aspires to be the best PRC Asian regional bank, with the best international standards and capabilities.

The Bank operates 29 branches in Hong Kong and also has an established presence in China through its branches in Beijing, Shanghai and Macau, and its wholly-owned finance company, China International Finance Company Limited (Shenzhen). The Bank"s overseas branch network covers New York and Los Angeles. The Bank is rated "Baa1" by Moody"s Investors Service and "BBB+" with positive outlook by FITCH.

CITIC Ka Wah Bank (the "Bank") is a wholly-owned subsidiary of CITIC International Financial Holdings Limited ("CIFH"), which is 56% owned by CITIC Group ("CITIC"). The Bank"s vision is to be a leading financial services provider that brings exceptional value to our customers. To achieve this the Bank is constantly developing a range of leading-edge financial products and services that meet the wealth management needs of its customers. 1920"s The history of the Bank dates back to the establishment of Ka Wah Ngan Ho in Guangzhou on February 2, 1922 by the late Dr. Lam Chi Fung. The name of the Bank was derived from the names of Ka Nam Tong and Nam Wah Company. The Bank was incorporated as a limited company in Hong Kong in December 1924 under the name of The Ka Wah Savings Bank Limited with a fully paid-up capital of HK$500,000. The Head Office was situated at 208-210 Des Voeux Road Central. The Ka Wah Ngan Ho in Guangzhou then became the Ka Wah Savings Bank Limited, Guangzhou Branch. The principal services included savings deposits and remittances. Two years later, it changed its name to Ka Wah Bank Public Limited Company. 1930"s In 1931, in order to further expand its banking activities, the Bank opened a branch in Shanghai and the share capital was raised to HK$1 million. In 1935, the branches in Shanghai and Guangzhou were closed down as a result of the monetary instability in China. 1940"s As World War II broke out and with the fall of Hong Kong, Ka Wah Bank suspended all its business activities. In 1945, it re-opened and operated from a new address at 269 Des Voeux Road Central. The Bank was renamed in January 1949 as The Ka Wah Bank Limited. 1960"s In 1964, the Head Office moved to 259-265 Des Voeux Road Central, Ka Wah"s self-owned building. 1970"s From 1975, the Bank entered a new era when Mr. Low Chung Song bought over two thirds of the Bank"s shares and assumed management of the Bank. Business expanded rapidly. 1980"s In 1980, the Bank"s new 22-storey self-owned building at 232 Des Voeux Road Central was completed. The Head Office was relocated to this new building on June 10 and computerization of the Bank"s various operations soon followed. In July 1980, the Bank made a public offer of 35,000,000 ordinary shares of HK$1.00 par value at a premium of HK$0.30 per share. The shares were subsequently listed on the Hong Kong Stock Exchange. Business continued to grow as more branches were opened both in Hong Kong and overseas. In the United States, two branches were set up, one in Los Angeles and the other in New York City. A representative office was set up in Toronto, Canada while another was established in Xiamen of Fujian Province. By the end of 1985, the Bank operated 26 branches in Hong Kong and 4 offices overseas. Wholly owned subsidiaries included Ka Wah International Merchant Finance Limited and Ka Wah Amev Insurance Limited, a joint venture with N.A. Amev of the Netherlands. 1985 was a turbulent year for the banking industry in Hong Kong. Small and medium sized banks were facing financial difficulties and Ka Wah Bank was not spared. The agreement of CITIC to inject HK$350 million capital into the Bank and the subsequent signing of the agreement on April 21, 1986 enabled the Bank to resume normal operation. 1990"s Under an experienced and capable management team, the Bank has grown and developed into a well-managed medium sized bank. It was ranked as one of the top 1,000 banks in the world. On July 30, 1998, the Bank officially changed its name to CITIC Ka Wah Bank Limited. In November of the same year, the Bank launched a new corporate identity, emblematic of its new corporate values and culture and a demonstration of its determination and spirit towards reforms and business development. In December 1999, the Bank received first time a rating from an international rating agency. Moody"s Investors Service rated the Bank"s long- and short-term foreign currency deposit at Baa2 and Prime-3 respectively. The Bank"s financial strength was rated at D while the rating outlook is stable. The ratings reflect the Bank"s sound financial position in the wake of its business development and reforms. 2000"s The Bank successfully launched an innovative HK$15 billion certificate of deposit ("CD") issuance facility in October 2000. It was the largest CD issuance facility of the Bank and an integral part of the Bank"s long-term strategy to enhance asset and liability management. In an ongoing effort to effectively manage its capital, the Bank globally issued its inaugural ten-year subordinated debt notes of US$300 million in July 2001, which was welcomed by solid market interest. In January 2002, the Bank continued its progressive strategy of growth with the acquisition of The Hongkong Chinese Bank, Limited ("HKCB") for HK$4.2 billion. Moody"s Investors Service, which adjusted the Bank"s financial strength rating from D to D+ in May 2001, affirmed the Bank"s rating as "Baa2" following the announcement of the acquisition. Mr. Kong Dan, Chairman of the Bank (center), Mr. Chang Zhenming, former Executive Vice Chairman of the Bank (left) and Mr. Raymond Lee, former Managing Director and Chief Executive of HKCB (right) at the press conference announcing the acquisition of HKCB. In order to leverage on the network and strengths of CITIC in Mainland China and to capitalize on the numerous opportunities arising from China"s entry to the World Trade Organization, the Bank announced in February 2002 a re-organization plan, under which the Bank"s three main businesses, namely commercial banking, investment banking and assets management will be re-organized under a financial holdings company. The Bank also signed a memorandum of understanding with CITIC Industrial Bank in February 2002 with a view to establishing a long-term business co-operation relationship. In May 2002, the Bank successfully issued US$250 million perpetual subordinated guaranteed notes, being Asia (Ex-Japan) first-ever perpetual upper tier II capital security. On 25 November 2002, CITIC Ka Wah Bank and HKCB were legally and operationally merged. The merger of the two banking businesses has been achieved through a Private Ordinance -- the CITIC Ka Wah Bank Limited (Merger) Ordinance, which was enacted on 19 July, 2002. Pursuant to the CITIC Ka Wah Bank Limited (Merger) Ordinance, the bulk of the assets and liabilities of CITIC Ka Wah Bank was transferred to HKCB on the Appointed Day of the merger, which was 25 November, 2002. Upon the appointed day of the merger, HKCB changed its name to CITIC Ka Wah Bank Limited and continues to operate the integrated banking businesses, while CITIC Ka Wah Bank changed its name to CITIC International Financial Holdings Limited which continues to be listed on the Hong Kong Stock Exchange. Mr. Chang Zhenming, former Executive Vice Chairman of the Bank (third from the left), Mrs. Doreen Chan, President and Chief Executive Officer of the Bank (second from the left), Mr. Kenneth Kong, former Alternate Chief Executive Officer of the Bank (second from the right), Mr. Kelvin Lo, former Executive Vice President of the Bank (first from the left), and Ms. Margaret Man, Executive Vice President of the Bank and Chairman of CIFC (first from the right), jointly officiated the lighting ceremony in the cocktail reception celebrating the Bank"s completion of acquisition of CIFC. In July 2003, the Hong Kong and Mainland authorities signed the Closer Economic Co-operation Arrangement ("CEPA") agreement, which opens up new opportunities for Hong Kong banks to expand their businesses in the Mainland market. In order to gain immediate access to the foreign currency business in Mainland China and to position strategically to benefit from CEPA, the Bank announced in October 2003 the acquisition of the entire stake of China International Finance Company Limited (Shenzhen) ("CIFC") for a consideration of US$896,733.32 (approximately HK$6,994,500). The acquisition was approved by the China Banking Regulatory Commission in December 2003. In addition, the "CITIC STAR" card, a Mainland credit card the Bank developed in collaboration with CITIC Industrial Bank, was launch at the end of 2003, exemplifying the comprehensive strength and the branding power of CITIC Group"s financial businesses. Our endeavor to providing value-added services to customers with our innovative spirit has been widely recognized in the marketplace, enabling the Bank to receive a number of reputable awards and recognitions. Looking ahead, the Bank will continue to operate from its base in Hong Kong. By being a progressive, innovative and customer-focused organization, the Bank strives to create exceptional value to its customers and becomes a leading financial services institution in Greater China.

2007

	Won the Silver Award of the 2007 Hong Kong Management Association Quality Award
	Granted the 2006"s "Outstanding Retail Sales Volume - Silver Prize" by VISA International
	Awarded the "Caring Company Logo" by the Hong Kong Council of Social Service for the fourth consecutive year
	Received "2006 Hong Kong Awards for Industries: Productivity & Quality Certificate of Merit" bestowed by the Hong Kong Productivity Council

2006

	Granted the 2005"s "Outstanding Retail Sales Volume - Gold Prize" by VISA International
	Awarded the "Caring Company Logo" by the Hong Kong Council of Social Service for the third consecutive year

2005 (Back to Top)

	Shanghai Branch was awarded the "Banking Return Prize" by the People"s Bank of China Shanghai Headquarters
	Treasury Operations and Remittance Department received the JPMorgan "Quality Recognition Award 2004"
	Granted the 2004"s "Outstanding Retail Sales Volume - Gold Prize" by VISA International
	Awarded the "Caring Company Logo" by the Hong Kong Council of Social Service for the second consecutive year

2004 (Back to Top)

	Won the 2004 Hong Kong Management Association Quality Award Certificate of Merit
	Received "2003 Hong Kong Award for Services — Innovation Award" bestowed by the Hong Kong General Chamber of Commerce
	Awarded the "Caring Company Logo" by the Hong Kong Council of Social Service

2003 (Back to Top)

	The 2002 Annual Report won the Bronze award in the financial services category of the U.S. Galaxy Awards 2003
	Ranked one of the top five finalists of the "Asia Insurance Industry Awards 2003 — Innovation of the Year"
	Granted the 2002"s "Outstanding New Member Award" by VISA International
	Remittance operations received the JPMorgan "Quality Recognition Award"
	Bills Department was awarded the ISO9001:2000 accreditation

2002 (Back to Top)

	Won the 2002"s "Hong Kong Retail Management Association Customer Service Award"
	The US$250 million of Perpetual Subordinated Guaranteed Notes was selected as the "Best Hybrid Bank Bond Deal" by "The Asset", a finance magazine in Asia

2001 (Back to Top)

	Awarded the JPMorgan "Five Year Quality Award 1996-2000"

09-08-2007 CITIC Ka Wah Bank Announces New Head of Retail Banking Group 08-08-2007 CITIC Ka Wah Maintains its Prime Lending Rate and HKD Savings Rate 06-08-2007 CITIC Ka Wah Bank Appoints Head of International Banking and Financial Institutions 23-07-2007 Policy review is needed to cope with strengthened property demand in China, says CITIC Ka Wah Bank 29-06-2007 CITIC Ka Wah Maintains its Prime Lending Rate and HKD Savings Rate 21-05-2007 CITIC Ka Wah Bank Officially Opens Tsuen Wan Branch (Chinese version only) 14-05-2007 Over-investment, not inflation, remains the greatest challenge for China; further "Window Guidance" and liquidity tightening are expected, says CITIC Ka Wah Bank 11-05-2007 An E-mail Linking to a Fraudulent Website 10-05-2007 CITIC Ka Wah Maintains its Prime Lending Rate and HKD Savings Rate 22-03-2007 CITIC Ka Wah Maintains its Prime Lending Rate and HKD Savings Rate 08-03-2007 CITIC Ka Wah Bank Selects HP as Technology Partner in Deployment of Advanced Branch Banking Infrastructure to Support Growth 06-03-2007 CITIC Ka Wah Bank Receives Approval to Offer Overseas Wealth Management Services in Mainland China 01-02-2007 CITIC Ka Wah Maintains its Prime Lending Rate and HKD Savings Rate 30-01-2007 Soft landing for China"s property market will take longer than expected, says CITIC Ka Wah Bank 15-01-2007 CITIC Ka Wah Bank Officially Opens China Resources Building Branch (Chinese version only)

23-08-2007	Announcement of 2007 Interim Results
03-08-2007	CKWB Received Green Light to Set Up a Locally Incorporated Bank in China (Chinese version only)
15-03-2007	Announcement of 2006 Final Results

Being an active and responsible member of the community is integral to our corporate ethos. Adhering to our mission of nurturing Chinese youths who are high achievers to become successful leaders, CITIC Ka Wah Bank supports a wide range of donation and sponsorship programs to foster and nurture youth development. Our Corporate Volunteer Team regularly undertakes community service activities and projects, focusing particularly on youth leadership development.

	Name of Company	Tel	Fax	Address	Principal Activities
	China International Finance Company Limited (Shenzhen)	(86-755) 8238 3838	(86-755) 8269 1681 (Wholesale Banking Group/Retail Banking Group) / 8269 1682 (Operation)	Unit 1101-1103, China Resources Building, 5001 Shennan East Road, Shenzhen, P.R.C.	Financial services
	CITIC Insurance Brokers Limited	2909 6500	2808 4196 / 2526 9116	Front Portion, Unit 4, 1/F Lippo Centre, Tower 1, 89 Queensway, Hong Kong	Financial services
	CITIC Ka Wah China Services Limited	2909 6320	2815 5118	9/F, Tower 1, Lippo Centre, 89 Queensway, HK	Consultancy
	HKCB Finance Limited	2838 7336	2890 8558	1/F Kam Sang Building, 255-257 Des Voeux Rd Central, HK	Consumer financing
	Ka Wah International Merchant Finance Limited	2545 7131	2541 7029	Ka Wah Bank Centre, 232 Des Voeux Rd Central, HK	Financial services
	The Ka Wah Bank (Nominees) Limited	2545 7131	2541 7029	Ka Wah Bank Centre, 232 Des Voeux Rd Central, HK	Nominee services
	The Ka Wah Bank (Trustee) Limited	2287 6136	2545 4001	8/F, Ka Wah Bank Centre, 232 Des Voeux Rd Central, HK	Trustee services

23-7-2007	Stock Market Boom Boosts Property Demand in China
6-7-2007	Bulls to Continue in Mainland Stock Market (Chinese version only)
5-7-2007	Strategies for IPO Subscription (Chinese version only)
2-6-2007	Macroeconomic Tightening Should Focus on Over-investment (Chinese version only)
14-5-2007	Inflation Is Not a Serious Threat for China at This Stage - Macroeconomic Tightening Should Continue to Focus on Over-Investment
21-4-2007	A Share Stock Market is a Good Example of Contrarian Theory (Chinese version only)
7-4-2007	Pre-requisite of Contrarian Theory (Chinese version only)
2-4-2007	Significance of Property Law (Chinese version only)
4-2007	RMB Bonds Get Going
23-2-2007	Ways to Analyse Capital Flow (Chinese version only)
23-2-2007	Forecast on China"s Economy in 2007 (Chinese version only)
16-2-2007	Investment and Opportunities of B Shares (Chinese version only)
29-1-2007	Three Unexpected Phenomena for China"s Economy (Chinese version only)

28-12-2006	Outlook of US Currency (Chinese version only)
19-9-2006	US Interest Rate Remains Attractive While US Dollar Stays at Narrow Trading Range (Chinese version only)
1-9-2006	Zero Coupon Bonds are More Sensitive to Interest Rate Trend (Chinese version only)
18-7-2006	Impact of Japan"s Recent Interest Rate Hike on Global Investment Markets (Chinese version only)
30-6-2006	US to Focus on Inflation Control (Chinese version only)
23-3-2006	Impact on Rising Interest Rate on Global Stock Markets (Chinese version only)

28-12-2006	Outlook of US Currency In 2007 (Chinese version only)
10-2-2006	Falling Trend of Yen (Chinese version only)
20-1-2006	Forecast on 2006 Investment Trend (Chinese version only)

3-7-2007 A Promising Outlook for Wealth Management in China 30-1-2007 Soft Landing for China"s Property Market will Take Longer than Expected

27-10-2006 General Insurance Series 12 - Insurance Claims on Illegal Behaviours (Chinese version only) 20-10-2006 General Insurance Series 11 - Insurance for Travellers to Mainland China (Chinese version only) 13-10-2006 General Insurance Series 10 - Fire Insurance Compensation (Chinese version only) 6-10-2006 General Insurance Series 9 - Car Accident Insurance (Chinese version only) 22-9-2006 General Insurance Series 8 - Cargo Insurance (Chinese version only) 15-9-2006 General Insurance Series 7 - Trade Credit Insurance (Chinese version only) 1-9-2006 General Insurance Series 6 - Directors and Officers Liability Insurance (Chinese version only) 18-8-2006 General Insurance Series 5 - Pollution Liability (Chinese version only) 4-8-2006 General Insurance Series 4 - Liability Risk In Pharmaceutical Industry (Chinese version only) 28-7-2006 General Insurance Series 3 - Disappearance of Individual (Chinese version only) 21-7-2006 General Insurance Series 2 - Spontaneous Combustion (Chinese version only) 14-7-2006 General Insurance Series 1 - Mortgage Fire Insurance (Chinese version only)

With our commitment to become your one-stop financial services provider, we offer you a comprehensive range of Retail Banking Services, including Savings & Investments Services, Loans Services, Credit Card Services, Insurance Services, Business Banking Services and China Banking Services.

As a longstanding local bank in Hong Kong, we commit ourselves to providing premium services to our customers. With a solid reputation built over these years, we have established a wide corporate customer base that ranges from medium size to top tier public companies. The consolidated experience and sound product knowledge of our Relationship Managers, as well as the comprehensive range of our financial products and services explain why our customers are all along gratified by us. We provide a diversified suite of products and services, ranging from trade finance, working capital loan to syndication arrangement and structured finance that cater your different kinds of needs. No matter you are a local, PRC or transnational company, it is our top priority to provide you with first class services. Simply click here for more information on our B2B e-Business services.

Our Treasury & Markets Group continues to bring into play its professional expertise to meet the needs of our customers, offering "one-stop-shop" through a wide spectrum of treasury products and services, delivering wholesome solutions, timely market information and competitive pricing for our customers. Our services can be categorised into four main areas: Foreign Exchange, Deposit Services, Investment Services and Tailor-made Solutions. For further information, please contact us By calling our Treasury Advisory specialists at (852) 2287 6530 (George Lee) (852) 2287 6551 (Paul Sim) (852) 2287 6550 (Clement Cheng) (852) 2287 6631 (Sam Kwan) (852) 2287 6343 (Darius Tse) By completing the Contact Us form. Treasury & Markets Group Key Contacts Telephone No. Treasurer, EVP Mr. Philip Lau (852) 2287 6366 Head of Investment Management, SVP Mr. Terry Chiu (852) 2287 6509 Head of Treasury Marketing, SVP Mr. Frankie Kwong (852) 2287 6678 Head of Trading, SVP Mr. Stephen Wong (852) 2287 6612

CITIC Ka Wah Bank (the "Bank") is based in Hong Kong and has expanded its business network to Mainland China and the United States. The Bank operates 29 branches in Hong Kong and also has an established presence in China through its branches in Macau, Shanghai and Beijing, and its wholly-owned finance company, China International Finance Company Limited (Shenzhen). The Bank"s overseas network covers New York and Los Angeles.