JINAN IRON AND STEEL CO., LTD (600022)

Newly-Issued A-share Subscription Announced

On 24 Oct 2008, the company issued 380 mln new A-shares to the public, via online and conventional subscription. Holders of the company's tradable shares subscribed to 27,758,265 shares, accounting for 7.31% of the total newly-issued shares outstanding, by exercising their preemptive right, while holders of the company's restricted shares also exercised their preemptive right to subscribe to 158,884,556 shares, accounting for 41.81% of the total newly-issued shares outstanding.

Other than the aforementioned subscriptions, 3,122,000 shares, equal to 0.82% of the total newly-issued shares outstanding, were allotted online with the lot winning rate of 100%, while 190,235,169 shares, equal to 50.06% of the total newly-issued shares outstanding, were allotted conventionally, at the allotment rate of 99.98695%. The conventional allotment only accounts the integral parts, and the main sponsor and head underwriter of the company, will be responsible for the sale of the remaining 10 unsubscribed shares.

Board of Directors
29 Oct 2008


Source: Shanghai Stock Exchange

Date: 29 Oct 2008

CN01/AX/RL/MR/JE/KM

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