According to Regulations of Doc 129(2005) PBC's Notice of Questions related to calculate and settle interests of RMB deposits and loan,ICBC will revise Rules in calculating and settling interests for some deposits and loans as well as interest calculation,notify as follows:

I. Since Sept 21,2005,interest for Personal time deposits will be settled by quarters,calculated according to the listed time interest rate on the settlement day. Settlement Day is fixed on the 20th day of the last month of the quarter. Clearing of Account before settlement day will have interest calculated to the preceding day of the clearing of account with rate listed on the day of clearing account. First time to settle interests by quarters for Personal time deposits is Dec 20,2005. On Dec 21,2005,ICBC will calculate and pay interests for Personal Time Deposits to Personal Customers from July 1,2005 till Dec 20,2005. Interest Rates will use the Time Deposits interest rates listed in our Bank on Dec 20,2005.

II. Since Sept 21,2005,Corporate Time Deposit and Agreed Deposit will have interests calculated by day and settled by quarter. If interest adjustment happened during calculation period,interests will be calculated in sections. Every 20th day of the last month of the quarter is the day of interest settlement.

III. Rules of Interests calculation for others types of deposits as Fixed Deposit,Notice Deposit,Time-demand Deposit,Renewal & Interest Payment Deposit,Installment-Fixed Deposit and Fixed-Installment Deposit remained unchanged. Lump-Fixed Corporate Deposit with advanced withdrawal or partially withdrawal after maturity still follow the Regulations of Doc 485(1997) RMB Corporate Deposit Management Practice,or interest calculated according to the interests rate of Time-Deposit listed on the withdrawal day,no interests calculated in sections.

IV. Calculation and Settlement of Interests for Loans remains unchanged

Industrial and Commercial Bank of China
September 14,2005