At the 3rd 2008 Extraordinary General Meeting of Shareholders, held on 11 Sept 2008, the following proposals were examined and approved:

1. to acquire 65,106,130 A-shares of Shenzhen Nanshan Thermal Power Co., Ltd., from Shenzhen City Energy Group Co., Ltd., at the price of RMB 5.17 per share, and to fulfill commitments made by Shenzhen City Energy during the share structure reform of Shenzhen Nanshan Thermal Power

2. to approve Newton Industrial Limited, a wholly-owned overseas subsidiary of the company, to acquire 92,123,248 B-shares of Shenzhen Nanshan Thermal Power at a price of HKD 3.51 per share, from Hong Kong Nanhai Bank (International) Co., Ltd., an overseas subsidiary indirectly controlled by Shenzhen City Energy

3. to establish Shenzhen Energy Northern Energy (Holdings) Co., Ltd.
4. to establish a joint venture, Huizhou Shenzhen Energy Harbour Co., Ltd.
5. to apply for a loan to facilitate a Manzhouli 2×200MW project
6. to proportionally (based on the company's 26.2% stake) provide a guarantee on the total existing loans of RMB 14.93 bln and to provide a guarantee on a new RMB 500 mln loan with Industrial and Commercial Bank of China, all taken out by Tongling Wanneng Power Co., Ltd., for a two-year term immediately after the expiration date as stipulated under the main contracts
7. to apply for a RMB 1.65 bln loan to repay debts owed by the company to Shenzhen Energy Finance Co., Ltd. and a RMB 850 mln working capital loan
8. to retain Deloitte Certified Public Accountants as the company's auditors for 2008 and to authorize the general manager to settle audit fees with the auditors

Board of Directors
12 Sept 2008


Source: Security Times

Date: 12 Sept 2008

CN01/DC/LZ/BT/KM