Press Release

JPMFC acted as the sole lead underwriter on RMB 700 million enterprise bond offering for Huzhou Municipal Construction Investment Group Co., Ltd.

RMB 700 million 7-year Enterprise Bond offering for Huzhou Municipal Construction Investment Group Co., Ltd. was successfully completed on Dec. 18th, 2012 and will be listed in the inter-bank market later. The offering yield is 6.70% (AA/AA+ rated, 20% repayment of principal at the end of 3rd, 4th, 5th, 6th and 7th year respectively). J.P. Morgan First Capital (“JPMFC”) acted as the sole lead underwriter in this transaction.

This bond transaction is the 4th enterprise (corporate) bonds issuance with JPMFC as lead underwriter in the fourth quarter of 2012. It has once again demonstrated our strong capability in bond issuance.