At the 3rd Meeting of the 3rd Board of Directors and the 2nd Meeting of the 3rd Board of Supervisors, both held on 25 Aug 2008, the following proposals were examined and approved:

1. the 2008 Semiannual Report
2. to revise rules on information disclosure
3. to establish a joint venture named Baotou Steel Group Finance Co., Ltd. with Baotou Steel (Group) Co., Ltd., Inner Mongolia Baotou Steel Rare Earth Hi-tech Co., Ltd. and Inner Mongolia Huanggang Mining Industry Co., Ltd.
The registered capital of the joint venture will be RMB 500 mln, of which RMB 150 mln will be borne by the company.

Board of Directors
26 Aug 2008


Source: Shanghai Stock Exchange

Date: 26 Aug 2008

CN01/VW/DM/BT/KM