As of the date of this announcement, holders of non-tradable shares of the company who have put forth a proposal to implement a share reform have met the two-thirds majority threshold required by relevant regulations. However, they have not yet produced a detailed share reform scheme. The company has not retained any sponsoring institutions for its prospective share reform and further, will not be in a position to disclose any share reform schemes within the next week.

Investors are advised to exercise caution when dealing in the company's shares.

Board of Directors
20 Oct 2008

Source: Shanghai Stock Exchange

Date: 20 Oct 2008

CN01/CJ/JL/BT/KM