Thornton & Industrial Bank of Taiwan Delegation Meet with Vice Mayor of Hangzhou

09/08/2008

Member of the Municipal Standing Committee and Executive Vice Mayor of Hangzhou city Mr. Yang Xubiao met with Michael Lin, the CEO of Thornton and Tina Lo, the Managing Director of Industrial Bank of Taiwan and the CEO & President of Industrial Bank of Taiwan Management Corporation along with their delegations for the second time. Vice Mayor Mr. Yang introduced Hangzhou’s recent construction of infrastructure, the main industrial development direction, and the development of the existing venture investment fund.

The CEO & President of Industrial Bank of Taiwan Management Corporation Tina Lo also gave a brief introduction of recent developments in IBT, and discussed their purpose and expectation of this visit. In the end of the visit, Vice Mayor Yang hoped Hangzhou could become the platform for enterprises to invest in and that these companies could grow and expand their business and eventually achieve a win-win situation for all involved.

Vice Mayor Mr. Yang warmly welcomed IBT to invest in Hangzhou and this meeting also strengthened the willingness of IBT to invest. . Both parties expected to cooperate more closely in the future.

From left to right: Joyce Lin, Director of Finance & Administration of Thornton; Joy Siew, Special Assistant to the President of IBT Management Corp; Jeremy Chen, Head of Equity Investment Department of IBT; Michael Lin, CEO of Thornton; Tina Lo, CEO & President of IBT Management Corp; Xubiao Yang, Member of the Standing Municipal Committee and Vice Mayor of Hangzhou; Zhenchuan Sun, Deputy secretary of Hangzhou City Government; Guoming Feng, Deputy Director of the Management Commission of HEDA; Jinlong Zhao, Special Inspection of Development and Reform Commission of Hangzhou; Fanming Meng, Director of the Financial Office of The People's Government of Hangzhou.