Holders of non-tradable shares of the company who have put forth a proposal for implementation of a share reform scheme have reached the two-thirds majority threshold required by relevant rules and regulations.

The company has not retained a sponsoring institution for its prospective share reform and further, will not be in a position to disclose any share reform scheme 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/NS/MR/BT/KM