On November 30, 2007, China SAFE Investments Limited injected RMB20 billion of equivalent in US dollars into China Everbright Bank (“CEB”), for holding 20 billion shares, or a 70.88% stake, in the bank at the price of one yuan per share. It suggests that CEB’s reform and restructuring has achieved substantial progress.

　　Before then, the restructuring plan had just been reviewed and approved by the extraordinary board and the extraordinary shareholders’ general meeting of CEB. CEB and China SAFE Investments Limited signed an Agreement on Investment and Share Purchase on November 28.

　　It is reported that at the next step, CEB will devote efforts to the introduction of strategic investors and IPO. In the meanwhile, as another important part of the reform of CEB, China Everbright Industrial (Group) Co., Ltd was incorporated today.