10:29     ICBC (ASIA)<00349> - Announcement (1)                               

    The Stock Exchange of Hong Kong Limited takes no responsibility for       
    the contents of this announcement, makes no representation as to its      
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon        
    the whole or any part of the contents of this announcement.               
                                                                              
                                                                              
    INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED                    
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 349)                                                         
                                                                              
    SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO                                  
    THE CONTINUING CONNECTED TRANSACTIONS                                     
    EXEMPT FROM THE INDEPENDENT SHAREHOLDERS' APPROVAL                        
                                                                              
                                                                              
    Summary                                                                   
     Reference is made to the Company's announcement dated                    
    31 December 2004 in relation to, amongst other things, the Licence        
    Agreement, the Collaboration Agreement, the Service Levels Agreement      
    and the Outsourcing Agreement. The Company hereby announces that, on      
    4 February 2005, the Company and ICBC or ICBC HK Branch (as the case      
    may be) entered into the Supplemental Collaboration Agreement, the        
    Supplemental Service Levels Agreement and the Supplemental                
    Outsourcing Agreement in relation to each of the Collaboration            
    Agreement, the Service Levels Agreement and the Outsourcing               
    Agreement, respectively. Each of the Agreements was amended and           
    supplemented to the effect that each of the Agreements shall be for a     
    fixed period and shall terminate on 31 December 2007. The Company         
    would also like to clarify the amount of the expected maximum             
    aggregate value for the transactions contemplated under the Licence       
    Agreement, given that the Licence Agreement is currently due to           
    expire on 30 April 2006.                                                  
                                                                              
                                                                              
    SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE CONTINUING CONNECTED         
    TRANSACTIONS EXEMPT FROM THE INDEPENDENT SHAREHOLDERS' APPROVAL           
                                                                              
    Reference is made to the Company's announcement dated 31 December         
    2004 in relation to, amongst other things, the Licence Agreement, the     
    Collaboration Agreement, the Service Levels Agreement and the             
    Outsourcing Agreement. Capitalised terms used herein shall have the       
    same meanings as defined therein, unless otherwise defined in this        
    announcement.                                                             
                                                                              
    The Company hereby announces that, on 4 February 2005, the Company        
    and ICBC or ICBC HK Branch (as the case may be) entered into the          
    Supplemental Collaboration Agreement, the Supplemental Service Levels     
    Agreement and the Supplemental Outsourcing Agreement in relation to       
    each of the Collaboration Agreement, the Service Levels Agreement and     
    the Outsourcing Agreement, respectively.                                  
                                                                              
    The Directors, including the independent non-executive directors of       
    the Company, consider that the terms of each of the Supplemental          
    Collaboration Agreement, the Supplemental Service Levels Agreement        
    and the Supplemental Outsourcing Agreement are on normal commercial       
    terms.                                                                    
                                                                              
    As disclosed in the 31 December Announcement, the period for each of      
    the Collaboration Agreement, the Service Levels Agreement and the         
    Outsourcing Agreement was not fixed. According to the Supplemental        
    Agreements, each of the Agreements was amended and supplemented to        
    the effect that each of the Agreements shall be for a fixed period        
    and shall terminate on 31 December 2007 or otherwise in accordance        
    with the terms of the relevant Agreements.                                
                                                                              
    Accordingly, the Company hereby announces that the 31 December            
    Announcement be supplemented in the following manner:                     
                                                                              
    (i)                                                                       
    the 31 December Announcement does not set out the term of the             
    Collaboration Agreement; the 31 December Announcement regarding the       
    term of the Collaboration Agreement be supplemented to the effect         
    that the Collaboration Agreement is for a fixed term and shall            
    terminate on 31 December 2007;                                            
                                                                              
    (ii)                                                                      
    it was disclosed in the 31 December Announcement that the Service         
    Levels Agreement `commenced from 21 February 2002 for an indefinite       
    term'; the 31 December Announcement regarding the term of the Service     
    Levels Agreement be supplemented to the effect that the Service           
    Levels Agreement is for a fixed term and shall terminate on 31            
    December 2007; and                                                        
                                                                              
    (iii)                                                                     
    it was disclosed in the 31 December Announcement that the                 
    Outsourcing Agreement `is for an indefinite term'; the 31 December        
    Announcement regarding the term of the Outsourcing Agreement be           
    supplemented to the effect that the Outsourcing Agreement is for a        
    fixed term and shall terminate on 31 December 2007.                       
                                                                              
    In addition, it was disclosed in the 31 December Announcement that