October 12, 2010

Sumitomo Mitsui Banking Corporation

Approval to Commence Preparation for Opening Changshu Sub-Branch of SMBCCN

TOKYO, October 12, 2010 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today that its wholly-owned subsidiary Sumitomo Mitsui Banking Corporation (China) Limited (“SMBCCN”, President: Kazunori Okuyama) received approval from the China Banking Regulatory Commission Jiangsu Office on September 29, 2010, to start preparing for the establishment of a sub-branch at Changshu City in Jiangsu Province. With this approval, SMBCCN’s network in Mainland China currently comprises eight branches, including Shanghai Head Office and Shenzhen Branch (preparations are currently underway for the latter’s opening) and four sub-branches.

This approval is significant for being the first time that a permission was given to a foreign-affiliated bank in China to establish a sub-branch in a county-level city adjoining cities where its head office　and other branches already exist.

Changshu City is known for its rich and fertile land since ancient times. In recent years, the city has undergone rapid economic expansion and urbanization thanks to its close proximity to metropolises of Shanghai and Suzhou and easy access by road (located at the intersection of major highways), rail and other forms of transportation, attracting many Japanese companies. Changshu City’s remarkable development is noticeable even in fast-growing China.

The city is located in the Changjiang Delta which is expected to continue to grow rapidly as one of the main drivers of China’s economic growth. SMBCCN currently serve its clients in the Changjiang Delta through its Shanghai Head Office, Suzhou Branch, Hangzhou Branch, Shanghai Puxi Sub-Branch and Suzhou Industrial Park Sub-Branch. The Changshu Sub-Branch will strengthen SMBCCN’s ability to provide even more comprehensive services to its clients.