Stock Hits Minimum Intraday Limit

The recent decrease in the closing price of the company's stock over three consecutive trading sessions on 19, 22, ,23 Sept 2008 represents more than a 20% deviation, thus constituting an unusual price movement, pursuant to the Stock Listing Rules of the Shenzhen Stock Exchange.

Following consultation, the controlling shareholder and the effective controller of the company confirm that there is no significant undisclosed information, pursuant to relevant regulations. As disclosed on 20 Aug 2008 a major asset restructuring scheme of the company has been approved by the State-owned Assets Supervision and Administration Commission of the State Council. The scheme is currently being examined by the China Securities Regulatory Commission.

Other than above-mentioned issue, the board of directors confirms that there are no significant undisclosed plans, negotiations, intentions, agreements or information pursuant to relevant regulations, nor is there any undisclosed information that would materially impact the company's stock price.

The China Securities Journal, the Securities Times, the Shanghai Securities News, and the China Info website (www.cninfo.com.cn) are the company's designated media for information disclosure. Investors are advised to exercise caution when dealing in the company's shares.

Board of Directors
24 Sept 2008


Source: Securities Times

Date: 24 Sept 2008

CN01/NS/SW/BT/KM