According to a notice received from Nanjing Changjiang Tanker Corp., the company's controlling shareholder, on 4 Sept 2008, 1,950,382 shares of the company were bought by Nanjing Tanker via the trading system of the Shanghai Stock Exchange, boosting its holding in the company to 788,651,915 mln shares, equal to a 48.96% stake.

In addition, Nanjing Tanker plans to invest up to RMB 180 mln in the company by purchasing the company's shares at RMB 7.50 per share in a 12-month period from 4 Sept 2008, with its holding ratio controlled under 2% of the company's total share capital.

Nanjing Tanker has committed not to sell the company's shares during the subsequent holding increase period as well as during certain statutory periods.

Board of Directors
5 Sept 2008


Source: Shanghai Stock Exchange

Date: 5 Sept 2008

CN01/NW/DM/BT/KM