BEA Beijing Branch
Commences Business Today

Hong Kong, 28 February 2003 – The Bank of East Asia (BEA) announces that the Bank’s Beijing Branch has commenced business from today. The establishment of the new branch follows approval from the People’s Bank of China of BEA’s application to upgrade its Beijing Representative Office to a full branch. A grand opening ceremony to celebrate the new status of the BEA Beijing Branch will be held on 11 April 2003 in The Great Hall of the People in Beijing.

“We are very pleased that we are now able to serve the people of Beijing, plus all our existing customers in China and the Hong Kong SAR, at our new Beijing Branch,” said Dr. David K.P. Li, Chairman and Chief Executive of BEA. “The state-of-the-art banking facility also provides Internet Banking services, delivering utmost convenience for residents of Beijing and visitors to our capital alike.”

BEA’s Beijing Branch is the first foreign bank branch to be established in Beijing following China’s accession to the World Trade Organization. Currently BEA owns the most extensive network among foreign banks in China. The Bank has 16 outlets on the Mainland, including eight branches, two sub-branches and six representative offices.

The Beijing Branch includes comprehensive foreign currency banking services, including deposits, loans and advances, bills acceptance and discount, buying and selling of government bonds and commercial papers, issuance of documentary credit and bank guarantees, remittances and settlement, buying and selling of foreign currencies, exchange of foreign currencies, inter-bank borrowings, credit card business, credit investigations and consultancy services.

BEA’s Beijing Branch offers diversified foreign currency loans, including syndicated loans, project finance, trade finance and mortgage loans, etc. For high net-worth individuals, the Branch provides SupremeGold – a one-stop personalised banking and investment service.

For more information, please contact Mr. Jones Ng Chi-keung, General Manager of BEA’s Beijing Branch, at 1/F, Block A, Fu Hua Mansion, No. 8 Chaoyangmen North Avenue, Dongcheng District, Beijing. Tel: (86 10) 6554 3110. Fax: (86 10) 6554 3112; or BEA Head Office. Tel: (852) 2842 3130. Fax: (852) 2845 9747.

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