BOC Hong Kong : Completion of the acquisition of the share capital of BOC Thailand by BOCHK

6 January 2017

BOC Hong Kong (Holdings) Limited ("BOC Hong Kong (Holdings)" or the "Company") today announced that with respect to the asset restructuring of the Bank of China Group ("BOC Group") in the ASEAN region, all of the conditions precedent set out in the Bank of China (Thai) Public Company Limited ("BOC Thailand") Share Purchase Agreement have been satisfied. The proposed share acquisition will be completed on 9 January 2017 in accordance with the terms and conditions of the Thailand Share Purchase Agreement.

Mr Yue Yi, Vice Chairman & Chief Executive of BOC Hong Kong (Holdings), said, "Following the acquisition of Bank of China (Malaysia) Berhad and the opening of a branch in Brunei, Bank of China (Hong Kong) ('BOCHK') is expanding in Southeast Asia by acquiring BOC Thailand. This marks a new step forward in implementing BOC Group's overseas development strategy and accelerating BOCHK's transformation into a regional bank. Leveraging BOCHK's competitive advantages in services, products and resources, we will adopt a regional management approach to promote collaboration among institutions in Southeast Asia and enhance BOC Group's overall business strength and market competitiveness in the region. As a result, we will be better positioned to capture opportunities arising from national strategies such as the Belt and Road Initiative, RMB internationalisation and Mainland enterprises going global, while further developing our business in Hong Kong and the Southeast Asian region.

"As the second largest economy in Southeast Asia with enormous development potential, Thailand is an important part of BOC Group's strategic development plan. In recent years, the Thailand Government has introduced a number of measures to promote its economic development and attract overseas investment. BOC Thailand has had a presence in Thailand for over two decades. It will continue to capitalise on BOC Group's solid customer base and diversified financial product and service platform to help more Mainland enterprises going global to invest in Thailand. In addition, it will enhance its services to better serve local enterprises, institutions and personal customers, and provide premium financial services and support to economic and trade development between China and Thailand, as well as Thailand's economy."

As the first Chinese bank operating in Thailand, Bank of China established a representative office in Bangkok in 1994, which was later upgraded to a branch and then transformed into a subsidiary. Upon completion of the acquisition, BOC Thailand will become an indirect wholly- owned subsidiary of BOC Hong Kong (Holdings), and the assets, liabilities and financial results of BOC Thailand will be consolidated into the financial accounts of BOC Hong Kong (Holdings). For details, please refer to the Company's announcement.

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BOC Hong Kong (Holdings) Limited ("the Company") holds the entire equity interest of Bank of China (Hong Kong) Limited ("BOCHK"), its principal operating subsidiary. Bank of China Limited (stock code "3988" and "4601" (Preference Shares)) holds a 66.06% equity interest in the Company through BOC Hong Kong (BVI) Limited, an indirect wholly-owned subsidiary of Bank of China Limited ("BOC"). The Company began trading on the main board of the Stock Exchange of Hong Kong on 25 July 2002, with stock code "2388" and ADR OTC Symbol: "BHKLY". It is one of the largest listed companies and commercial banking groups in Hong Kong.

BOCHK has strong market positions in all major businesses. It has the most extensive local branch network and diverse service platforms, including 197 branches, efficient e-channels of over 1,000 self- service machines, as well as Internet and mobile banking services. It offers a comprehensive range of financial, investment and wealth management services to personal, corporate and institutional customers. BOCHK is one of the three note-issuing banks and the Clearing Bank for Renminbi business in Hong Kong. With its strong RMB franchise, BOCHK is the first choice for customers in this business. Through the deep collaboration with its parent bank, BOC, it provides a full range of high quality cross-border services to multinationals, cross-border customers, Mainland enterprises going global, central banks and super-sovereign organisations.