At the 4th Extraordinary General Meeting of Shareholders, held on 30 Aug 2008, the following proposals were examined and approved:

1. to invest in the construction of four 20,000-ton crude oil and petroleum product tankers
2. to sell five tankers (Daqing 419 included) to the controlling shareholder
3. to revise certain items in the Articles of Association

Board of Directors
2 Sept 2008


Source: Shanghai Stock Exchange

Date: 2 Sept 2008

CN01/IS/LZ/BT/KM