On 9 July 2008, the company issued its eighth information disclosure related to the progress on an acquisition in Herald Resources Co., Ltd., a company in Australia. The company's offer for the stakes in the Australian miner was raised to AUD 2.8 per share, while Bumi, its rival in the bidder, increased its offer to AUD 2.85 per share.

The company disclosed that Tango Company, a joint venture established by the company and PT Antam Tbk in Indonesia for the acquisition purpose, had declared that the joint venture had decided to postpone the validity of the unconditional tender offer of AUD 2.8 per share from 8 to 15 July 2008.

Meanwhile, the company has strongly suggested that shareholders of Herald Resources should refuse the offer by Bumi, as the company plans to raise its offer price. Information reflects that the company's price cap for the acquisition of Herald Resources is valued at AUD 3.51 per share .

Source: Shanghai Securities News

Date: 9 Jul 2008

CN01/BG/RZ/BT/WH