Beijing, 8 October 2007—Shearman & Sterling has advised China Minsheng Bank (“Minsheng”) on its investment in UCBH Holdings, Inc. (“UCBH”) (NASDAQ: UCBH) the holding company of United Commercial Bank. This transaction marks the first Mainland Chinese bank to successfully make a strategic investment in a US bank.

Under the terms of the agreement and subject to regulatory approvals, Minsheng will acquire an aggregate 9.9% ownership interest in UCBH, with a mutual option to increase the ownership to 20% by 2009 in two phases. In the first phase, which is anticipated to close in the fourth quarter of 2007, UCBH will issue approximately 5.4 million shares of its common stock to Minsheng, following which, Minsheng will own 4.9% of UCBH.

The Shearman & Sterling team was led by partner Lee Edwards (BJ-MA), working with partners Steve Sherman (SF-FG) and Brad Sabel (NY-AM), as well as associates Chris Flood (BJ-MA), Rachel Gu (BJ-MA), Yongqing Huang (BJ-MA), Wayne Lee (HK-MA) and David Swarthout (SF-FG). Commenting on the transaction, Lee Edwards said: “We are delighted to act for Minsheng on this historically significant transaction.”