Approval of proposal by Industrial and Commercial Bank of China Limited

The following press release was published by the Board of Governors of the Federal Reserve System on Aug. 5, 2008. It is reproduced in full below.

The Federal Reserve Board on Tuesday approved the application by Industrial and Commercial Bank of China Limited, Beijing, People's Republic of China, to establish a branch in New York, New York.

Attached is the Board's Order relating to this action.

Source: Board of Governors of the Federal Reserve System