On 25 June the company announced that Shennongjia Wushan Mining Co., Ltd., a subsidiary of the company, will acquire phosphorous chemical assets of Gezhouba Chemicals Co., Ltd.'s Shennongjia Plant for RMB 37.17 mln. The acquisition is to avoid competition.

In addition, the company will acquire a 100% stake in Yangzhou City Gezhouba Chemical Engineering Co., Ltd. held by Yichang City Gezhouba Chemical Engineering Co., Ltd. for RMB 6.78 mln.

Source: Shanghai Securities News

Date: 25 Jun 2008

CN01/RZ/MZ/BT/KM