Wal-Mart, SDB and GE Money Launches
Co-Branded Credit Card --- Wal-Mart Changxiang Card

Oct 27, 2006

October 27, 2006, Shenzhen, China --- Wal-Mart (China) Investment Co., Ltd, Shenzhen Development Bank (SDB) and GE Money jointly held today a ceremony and press conference for the issuance of the co-branded Wal-Mart Changxiang Card, in the Wal-Mart Supercenter, Xiangmihu Store in Shenzhen. The issuance of this co-branded card opens a new chapter for China's retail financial industry, and will bring more benefits and services to Chinese consumers.

The Wal-Mart Changxiang Card, a Visa and China UnionPay dual labeled credit card, embraces the concept of "maximizing value, enjoying life" and features an original rebate function for credit card payment. Every Wal-Mart Credit Card holder is able to enjoy a rebate of up to 1%, which can be used to exchange any goods of the same value in any Wal-Mart Supercenter or SAM's CLUB store throughout China. Cardholders can earn rebates on their purchases everywhere around the world, so as to enjoy shopping. Now, applicants for the Wal-Mart Credit Card will enjoy a first-year annual fee waiver. Upon 12 purchases with the card in the first year, the second-year annual fee will be also exempted.

Rene Mang, Chief Administrative Officer of Wal-Mart (China) Investment Co. Ltd., said, "Wal-Mart is committed to delivering exceptional everyday value and service to our customers. With the Wal-Mart Credit Card, we will deliver even more added value services and exclusive benefits to our customers.”

Liu Baorui, Vice President of SDB, said, “The Wal-Mart Credit Card is the result from the deep cooperation between SDB and Wal-Mart in the China’s retail market and financial market. SDB and GE Money have already began strategic cooperation to further our partnership and lead the new trend of cooperation in China' banking sector, by jointly launching more new credit cards and finance banking products which meet the demands of market. The strong cooperation between these vigorous companies is expected to bring more value to consumers."

"As a strategic partner of SDB, GE has not only offered SDB a range of financial consulting services and advanced financial management experience, but also introduced the world's largest retailer, Wal-Mart, as a partner for the bank's global retail card program. The cooperation of the three parties will create a multi-win situation, and will lead China's retail financial industry to be in line with the world," said Michael Barrett, Chief Executive Officer of GE Money in China.

The press conference was attended by Chen Yingchun, Vice Mayor of Shenzhen Municipal Government, Frank N. Newman, Chairman of SDB, Liu Baorui, Vice President of SDB, Michael Barrett, Chief Executive Officer of GE Money, China, Rene Mang, Chief Administration Officer of Wal-Mart (China) Investment Co., Ltd., representatives from China UnionPay and from Visa.

About Wal-Mart China

Wal-Mart China opened its first Supercenter and SAM’S CLUB in August 1996 in Shenzhen and now operates 66 outlets including Supercenters, SAM’S CLUBs, and Neighborhood Markets in 34 cities with over 36,000 associates.  Wal-Mart has brought along advanced management expertise to China’s retail industry and provided local customers with good merchandise and services.  For more information about Wal-Mart China, please visit www.wal-martchina.com.