RMB 1.6 Short-term Bonds to be Issued

At the 2007 Annual General Meeting of Shareholders, held on 10 Apr 2008, a proposal to issue RMB 1.6 bln short-term financing bonds with maturity on 21 Aug 2008 was examined and approved.

The bond issuance was examined and approved by the National Association of Financial Market Institutional Investors on 21 Aug 2008. With China Construction Bank as the lead underwriter, the bonds will be publicly issued to institutional investors in the domestic inter-bank bond market.

Pertinent details concerning the above-mentioned bond issuance are available on the website of the Government Securities Depository Trust & Clearing Co., Ltd. (www.chinabond.com.cn）and on the website of the China Foreign Exchange Trade System & National Interbank Funding Center (www.chinamoney.com.cn).

Board of Directors
2 Sept 2008


Source: Securities Times

Date: 2 Sept 2008

CN01/CJ/JL/BT/KM