At the 1st 2008 Extraordinary General Meeting of Shareholders, held on 4 Aug 2008, the following proposals were examined and approved:

1. to sell a 100% stake in Shanghai Nanchang Real Estate Co., Ltd., a wholly-owned subsidiary of the company, to Lianyungang Zhigao Municipal Engineering Co., Ltd.
2. a report on the sale of the company's major assets

Board of Directors
4 Aug 2008

Source: Shanghai Stock Exchange

Date: 5 Aug 2008

CN01/NW/DM/BT/KM