On 16 Sept 2008, the Ministry of Finance of the PRC and the State Administration of Taxation jointly released a notice related to resource tax standard adjustments on certain minerals, including diatomite, perlite, phosphate rock and jade.

According to the notice, as of 1 Oct 2008, the resource tax on the company's phosphate rock was increased from RMB 3 per ton to RMB 15.00 per ton. The tax adjustment will alter the company's 2009 operating profit by approximately RMB 18 mln.

Board of Directors
8 Oct 2008


Source: Shanghai Stock Exchange

Date: 9 Oct 2008

CN01/NW/DM/BT/KM