At the 26th Meeting of the 3rd Board of Directors, the company was approved to purchase certain assets of Beijing Jiuzhou Tianyu Investment & Development Co., Ltd., a subsidiary of Xingtai Investment Co., Ltd., via placing shares with Xingtai Investment. At present, related auditing, evaluation and profitability projection are still ongoing.

The company will disclose progress pertaining to the major assets restructuring every 30 days, before convening of a general meeting of shareholders. As there exists uncertainties in the matter, investors are advised to exercise caution when dealing in the company's share.

Board of Directors
27 Oct 2008


Source: Shanghai Stock Exchange

Date: 27 Oct 2008

CN01/RP/JL/JE/KM