Banks Complete Largest IPO Ever - Agricultural Bank of China

LONDON and HONG KONG, August 17, 2010 - Beijing based Agricultural Bank of China (AgBank), the last of the big
four Chinese state-controlled banks to go public, became the largest initial
public offering (IPO) on record this week.

AgBank exercised the overallotment option in full for a total IPO value
of $22.1bn, just ahead of Industrial & Commercial Bank of China's $21.9bn
IPO priced October 2006. The deal is split between a $12.0 billion H Share
offer and $10.1 billion A Share offer. The bank priced its dual Hong Kong
and Shanghai listed IPO on July 6, initially raising $19.2bn.

Raising this amount of capital is complex and involves the collaboration
of thousands of potential investors and numerous banks. Seven bookrunners led
the H-share portion alone - CICC, Goldman Sachs, Morgan Stanley, Agricultural
Bank of China International, Deutsche Bank, JPMorgan and Macquarie - all
leveraging the Dealogic global bookbuilding platform and communication
network for the successful execution of the deal.

Dan Dees, a Managing Director and Head of the Financing Group in Asia at
Goldman Sachs, commented, "Managing a deal of this magnitude in a very
challenging market in such a short period of time took considerable
coordination and focus. The successful outcome of this landmark transaction
is testament to the strength of Agricultural Bank of China's strong
management, industry positioning and unique franchise."

Large IPOs often involve multiple bookrunners and a collaborative
approach is essential to ensure accurate pricing and to mitigate risk. This
year to date, IPOs valued over $500m have counted an average of 3.6
bookrunners but AgBank's IPO is the only deal on record to use more than nine
bookrunners.

Jody Drulard, Managing Director at Dealogic commented, "Two decades of
close partnership with our clients has enabled Dealogic to establish the
industry standard network for deal collaboration, culminating in multiple
banks working together on the platform to successfully execute the world's
largest IPO."

Since 2005 Chinese IPOs have accounted for a quarter of Global IPO
volume. In that period all four of China's big banks have gone public. China
Construction Bank raised $9.2 billion in October 2005 while Bank of China
priced its $11.2 billion IPO in May 2006.

Chinese IPO activity dominates new listings in 2010 accounting for 34% of
deals done so far this year - up from 6% five years ago - and 47% of IPO
volume ($64.9 billion).

About Dealogic

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Dealogic has over 25 years experience in capital markets origination,
syndication, investment banking coverage, and strategy with every one of the
top 50 banks in the world utilizing its capital markets platform.

Hong Kong, Jennifer Cheung, +852-3698-4707, jennifer.cheung at dealogic.com, or New York, Natalie Cogan, +1-212-577-4486, natalie.cogan at dealogic.com, or London: Shireen Farhana, +44-20-7440-6494, shireen.farhana at dealogic.com