Industrial and Commercial Bank of China Limited issued subordinated bonds of RMB 50 billion in the China national inter-bank bond market from 29 and 30 December 2011, and published the Announcement on Completion of Issue of Subordinated Bonds on 30 December 2011. According to the relevant terms in the prospectus for the issuance of the Bonds, the Bank has the right to redeem in full this type of the Bonds at face value on the last day of the tenth interest accrual year (namely 30 December 2021). As at the date of this announcement, the Bank has exercised the redemption right and completed the full redemption of this type of subordinated bonds of an amount of RMB 50 billion at face value.