RMB 23 Mln Guarantee for Gudian Nanning

As approved by relevant authorities, Gudian Nanning Power Generation Co., Ltd., of which a 23% stake is held by the company, is in the first phase of preparations for its two 660 MW coal-fired units project.

China Guodian Corporation, the controlling shareholder of Gudian Nanning, has provided a RMB 50 mln loan guarantee with China Everbright Bank for this project. In addition, the company will provide a guarantee for Gudian Nanning on RMB 23 mln of a five-year 50 mln loan with China Development Bank, pursuant to resolutions of the 3rd Meeting of the 6th Board of Directors.

As of the date of this announcement, the cumulative amounts of guarantees provided by the company and its subsidiaries total RMB 200.82 mln and USD 29.52 mln. There are no guaranteed loans in arrears.

Board of Directors
27 Aug 2008


Source: Securities Times

Date: 27 Aug 2008

CN01/CJ/JL/BT/MM