Hong Kong/Beijing, 1^st  November, 2013 –  China Construction Bank Corporation (“CCB”) announced today that it has reached an agreement regarding the acquisition of 72.00% of total share capital (i.e. 73.96% of total share capital if excluding treasury shares) in Banco Industrial e Comercial S.A. (“BICBANCO” or “BIC”) with BIC’s controlling group, Bezerra de Menezes family. The Share Purchase and Sale Agreement (the “Agreement”) was signed in Sao Paulo on 31^st October, 2013 (Brazil time). Both parties will subsequently seek necessary regulatory approvals.

This transaction marks CCB’s first ever acquisition in Latin America. Total reference consideration is approximately 1.6billion Brazilian Reais. After the completion of the transaction, under the regulations of the Brazilian Securities and Exchange Commission (“CVM”), CCB will launch a mandatory tender offer to all remaining shareholders.

As one of the BRIC countries, Brazil has the largest population and economy in Latin America. It also has the largest financial services market in Latin America, with significant potential for future growth. Bilateral trade and economic cooperation between China and Brazil has been growing fast in recent years. China is currently Brazil's largest trade partner in the world.

Founded in 1938, BIC is one of the oldest private sector banks in Brazil. It specializes in corporate loans, primarily to middle market companies. As of June 2013, BIC is the 8^th largest private Brazilian bank in terms of credit and leasing portfolio size (excluding Advances on Currency Exchange Contracts). BIC has an established banking platform with 38 branches covering 33 Brazilian cities, as well as an experienced management team.

Mr.Jianguo Zhang, President of CCB, commented: “This is a strategically significant transaction, as a Chinese bank will, for the first time, acquire a controlling stake in a Brazilian commercial bank. Brazil is the world’s 7^th largest economy, and the most populous and economically developed country in Latin America. China and Brazil, as BRIC countries, have economies that are highly complementary to each other, and are developing closer trade and investment interactions. China became Brazil’s largest trade partner in 2012 as bilateral trade reached 86 billion US Dollars. The Brazilian market is of great strategic importance to CCB’s globalization development. We believe this transaction will be a win-win situation for both parties: CCB has advantages such as a broad customer base, financial strength and strong infrastructure financing abilities, while BIC has a comprehensive business platform and extensive operational experience in the Brazilian market, as well as strong trade finance capabilities. The acquisition will create significant synergies and there will be vast opportunities for future development. At the same time, we hope through this transaction to also build a bridge between China and Brazil, and actively promote a stronger bilateral relationship as well as further economic and trade interactions. CCB hopes to provide more comprehensive and high-quality services to customers from both countries, and contribute to the development of Brazil’s economy and society. ”

Mr. Jose Bezerra de Menezes, CEO of BIC, commented: “Throughout its long history, BIC has built a strong tradition of providing innovative financial services and solutions to middle market companies in Brazil. For over 75 years, the Bank has sought to satisfy its clients’ needs while creating value to its stakeholders. In continuing this path, the transaction with CCB represents a large, but natural step forward for BIC. Following completion, the Bank will be better equipped to serve its diverse clientele, providing them with access to a broader platform of products and services in Brazil and internationally. We are confident that BIC, through its distinguished corporate values and new leadership, will continue to positively contribute to the development of Brazil.”

Successful completion of the transaction is subject to approvals from the China Banking Regulatory Commission, Banco Central do Brasil (Central Bank of Brazil) and other relevant regulatory authorities in China and other jurisdictions.

Morgan Stanley acted as exclusive financial advisor to CCB with respect to the transaction.

About Banco Industrial e Comercial S.A.

Founded in 1938, BIC has focused on providing loan services to middle market companies. BIC’s principal products and services include lending, foreign exchange and trade financing services for companies, in addition to payroll-deductible loans for individuals, among others. BIC has a domestic network of 38 service outlets and an overseas branch in the Cayman Islands, which covers 33 major cities in 19 provinces in Brazil with a total of approximately 900 employees. BIC owns 5 wholly-owned subsidiaries and one joint venture. The subsidiaries engage in leasing operations, personal loans, securities, issuance of credit cards/pre-paid cards and data processing; the joint venture specializes in providing factoring and forfaiting services. BIC has been publicly traded on the Sao Paulo stock exchange since 2007. As of June 2013, total credit assets reached 13.6billion Brazilian Reais. 

For more information on BIC, please visit www.bicbanco.com.br

About China Construction Bank Corporation

With nearly 60 years of operational history, CCB is a leading commercial bank in China. Its main businesses include corporate banking, personal banking and treasury operations. It is among the market leaders in China in a number of products and services，including infrastructure loans, residential mortgage and bank cards. CCB has an extensive customer base. As of June 2013, CCB has 14,295domestic branches and 68 overseas institutions covering 14 countries and regions, and it is actively expanding its overseas footprint. CCB’s overseas network includes branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo, Seoul, Ho Chi Minh City, New York, Sydney, Melbourne and Taipei, and wholly-owned overseas operating subsidiaries such as CCB Asia, CCB Russia, CCB International and CCB London. CCB currently has approximately 344,913 employees.

CCB is listed on the Hong Kong Stock Exchange (SEHK: 939) since October 2005. It was then subsequently listed on the Shanghai Stock Exchange (SSE: 601939) in September 2007. Its current market capitalization of over 180 billion US Dollars ranks it 5^th among listed banks in the world. CCB is the second largest commercial bank in China by total assets. As of the second quarter of 2013, CCB ranked second in China by both total assets (14,859 billion Renminbi) and total loans (8,095 billion Renminbi).

For more information on CCB, please visit www.ccb.com