Laws of the People's Republic of China

Letter of China Banking Regulatory Commission concerning the Approval of America VISA International Service Association to Close up Its Shanghai Representative Office

America VISA International Service Association,

The letter which was signed by Christopher Rodrigues, president and chief executive officer of your Service Association, on October 31, 2005, has been received by this Commission.

You are hereby approved to close up the Shanghai Representative Office of America VISA International Service Association according to the Measures on the Administration of Foreign-funded Financial Institutions' Representative Offices in China.

Please carry out the related cancellation formalities according to the related provisions. After closing up this Representative Office, your Service Association shall deal with the pending matters.

China Banking Regulatory Commission

February 16, 2006