21 May 2015

A joint announcement is made by Bank of China Group in relation to the review of the Group's business and assets portfolio

BOC Hong Kong (Holdings) Limited ("BOCHK (Holdings)", stock code "2388"; ADR OTC Symbol: "BHKLY") and Bank of China Limited ("Bank of China", stock code "3988") today jointly announced that progress has been made in relation to the review of the Group's business and assets portfolio. The feasibility study results showed that the potential disposal of all of BOCHK (Holdings)'s interests in Nanyang Commercial Bank, Limited, an indirect wholly- owned subsidiary of BOCHK (Holdings) would be consistent with the long-term development strategy of the Group in Hong Kong and would enable a better allocation of resources of the Group. At the same time, Bank of China and BOCHK (Holdings) have been reviewing their overall business strategies for their respective banking businesses in Hong Kong and the ASEAN region and examining the strategic value and viability of undertaking a restructuring exercise in relation to their banking businesses in such region, including a potential restructuring and transfer of banking businesses and assets owned by Bank of China in certain ASEAN countries to BOCHK (Holdings) or Bank of China (Hong Kong) Limited. Please click herefor the full announcement.
Mr Yue Yi, Vice Chairman & Chief Executive of BOCHK (Holdings), said, "The potential disposal and restructuring mentioned in the announcement align with the long-term development strategy of our parent bank and BOCHK (Holdings). This will help optimise the resources allocation of the Group and allow us to focus our efforts and enhance our competitiveness in capturing the opportunities arising from the major national strategies such as One Belt One Road, RMB internationalisation as well as Mainland corporates going global, which will expand the room for our potential growth. In the mid to long-term, we will continue to explore and focus on three areas, including to strengthen the business foundation and servicing expertise for our Hong Kong businesses, to closely collaborate with our parent bank on the Mainland and offshore RMB businesses, as well as to capture the business opportunities in the overseas markets such as the ASEAN region. These initiatives will not only be conducive
to our long-term sustainable development, but also enhance our global servicing capabilities to

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better cater to the needs of the Mainland corporates going global, customers in Hong Kong and the ASEAN region, as well as multi-national corporate customers."
Mr Yue also said, "Customer service and the well-being of our staff are important considerations in implementing this project. When reviewing the potential buyers, we will focus on areas such as their reputation and strength, as well as their ability to provide good services to customers and arrangements for employees, with an aim to maintain stability in the bank's development."
As Bank of China and BOCHK (Holdings) may or may not undertake any such acquisition, disposal or corporate restructuring transaction and even if they decide to do so, such acquisition, disposal or corporate restructuring transaction may or may not proceed to completion for various reasons, accordingly, shareholders and potential investors of Bank of China and BOCHK (Holdings) are advised to exercise caution when dealing in the securities of Bank of China and BOCHK (Holdings).
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About BOC Hong Kong (Holdings) Limited

BOC Hong Kong (Holdings) Limited ("BOCHK (Holdings)") was incorporated in Hong Kong to hold the entire equity interest in Bank of China (Hong Kong) Limited ("BOCHK"), its principal operating subsidiary. BOCHK (Holdings) is listed on the main board of the Stock Exchange of Hong Kong with stock code "2388", ADR OTC Symbol: "BHKLY". Bank of China Limited (HK Stock Code: "3988") holds a 66.06% equity interest in BOCHK (Holdings) through BOC Hong Kong (BVI) Limited, an indirect wholly-owned subsidiary of Bank of China Limited.

BOCHK is a leading commercial banking group in Hong Kong. With over 260 branches, more than 610

ATMs and other delivery channels in Hong Kong, BOCHK and its subsidiaries offer a comprehensive range of financial products and services to personal and corporate customers. BOCHK is one of the three note issuing banks in Hong Kong and also the Clearing Bank for Renminbi business in Hong Kong. In addition, the BOCHK Group (comprising BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation) and its subsidiaries have 42 branches and sub-branches in the Mainland of China to provide

cross-border banking services to customers in Hong Kong and the Mainland.

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