According to an approval received earlier from the State-owned Assets Supervision and Administration Commission of the State Council, the company's private placement scheme has been approved by the SASAC according to which the Third Research Academy of CASIC will subscribe shares of the company placed with its 93.91% stake in Beijing Hangtian Kegong Inertia Technology Co., Ltd., a 86.9% stake in Beijing Aerospace-time Technology Co., Ltd. and a 100% stake in Beijing Hangtian Haiying Xinghang Electromechanical Equipment Co., Ltd.

The assessment result of the stakes have been recorded in the SASAC with no change from the result announced on 22 Jul 2008.

Board of Directors
20 Aug 2008

Source: Securities Times

Date: 20 Aug 2008

CN01/NW/DM/BT/KM