At the 5th Meeting of the 6th Board of Directors, held on 14 Jul 2008, the following proposals were examined and approved:

1. The Report on Rectification of Corporate Governance
the report will be submitted to the Fujian Bureau of the CSRC for examination

2. A supplement to the conditional agreement
At the 3rd Meeting of the 6th Board of Directors, held on 7 May 2008, a proposal was examined and approved for the conditional agreement signed between Fujian Sunshine Group Co., Ltd., Fujian Kangtian Industry Co., Ltd., and Fujian Dongfang Investment & Guaranty Co., Ltd. regarding the issuance of new shares to acquire assets and to require the board of directors to address the relevant procedures

At the 1st Extraordinary General Meeting of Shareholders, held on 27 May 2008, the above-mentioned proposal was examined and approved.

The four parties would like to revise the following items in the conditional agreement:

From "The company will assume gains and losses occurring in the stake acquisition of the target from 1 Jan 2008 to the completion of the stake transfer" to "the company will enjoy gains from the stake acquisition of the target from 1 Jan 2008 to the completion of the stake transfer, and Fujian Sunshine, Fujian Kangtian, or Fujian Dongfang will assume possible losses incurred during the same said period."

Board of Directors
15 Jul 2008


Source: www.cninfo.com.cn

Date: 15 Jul 2008

CN01/FL /SW/BT/MM