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CMB Cuts in Tibet Trust & Investment Sector

September 25, 2008

TIBET, Sep 24, 2008 (SinoCast via COMTEX) -- CIHKF | Quote | Chart |
News | PowerRating -- China Merchants Bank Co., Ltd. (CMB; SHSE: 600036;
SEHK: 3968), one of the nation's top joint-stock commercial lenders,
recently acquired a 60.5% stake in The Trust & Investment Corporation of
Tibet Autonomous Region, West China.

On September 18, 2008, the Shenzhen-based bank entered into the
framework agreement with the Tibet Autonomous Region Finance Bureau,
marking that CMB made a substantial progress in the purchase of the
Tibetan trust and investment firm.

As a mature banking business model, commercial banks' operation of trust
and investment is in line with the integrated financial business policy
in China, said the CMB President Ma Weihua. Therefore, this domestic
lender is expected to further take its advantages in trading platform,
customer resources, technical platform, and product innovation in the
near future.

With a total registered capital of CNY 300 million, The Trust &
Investment Corporation of Tibet Autonomous Region was solely established
by the Tibetan government in 1991.

 From, Page 1, Tuesday, September 23, 2008
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