At the 14th Extraordinary Meeting of the 3rd Board of Directors, held on 10 Sept 2008, a proposal was examined and approved to establish Linan Xinfu Small Loan Co., Ltd. with other investors.

The registered capital of Linan Xinfu will be RMB 200 mln, of which a capital contribution of RMB 40 mln will be borne by the company, in return for a 20% stake, while the other capital contribution equivalent to an 80% stake will be borne by another 9 to 17 initiators, thereby making the company the largest shareholder.

The board has authorized the chairman of the board of directors to sign related documents and contracts, as well as the general manager to handle related issues. The establishment of the new joint venture must be approved by government authorities.

Details pertaining to the proposal are available on the Securities Times and the China Info website (www.cninfo.com.cn), dated 11 Sept 2008.

Board of Directors
11 Sept 2008


Source: Securities Times

Date: 11 Sept 2008

CN01/VW/DM/BT/KM