At the 40th Meeting of the 5th Board of Directors, held on 10 Oct 2008, a proposal was examined and approved to renew a six-month joint liability guarantee on a RMB 30 mln loan for Wuyang Yinge Paper Industrial Co., Ltd., a subsidiary of the company, with Shanghai Pudong Development Bank, Zhengzhou branch.

Including the aforementioned guarantee, guarantees provided by the company and its subsidiaries will total RMB 392 mln, of which RMB 30 mln are for its subsidiaries. There are no guaranteed loans in arrears.

Board of Directors
13 Oct 2008


Source: Shanghai Stock Exchange

Date: 13 Oct 2008

CN01/AX/MR/BT/KM