The recent increase in the closing price of the company's stock over three consecutive trading sessions on 23, 24 and 27 Oct 2008 represents a deviation of 20%, thus constituting an unusual price movement.

Following consultation, Chongqing International Trust Co., Ltd., the company's controlling shareholder, confirms that there are no significant undisclosed issues currently outstanding nor are any issues, including equity transfer or debt restructuring, planned for the next three months. The company is operating normally.

The board of directors and the controlling shareholder both confirm that there are no significant undisclosed issues, negotiations, intentions or agreements outstanding, pursuant to relevant regulations, nor is there any remaining undisclosed information which would materially impact the company’s stock price.

The China Securities Journal, the Shanghai Securities News, and the website of the Shanghai Stock Exchange (www.sse.com.cn) are the company's designated media for information disclosure. Investors are advised to exercise caution when dealing in the company's shares.

Board of Directors
28 Oct 2008


Source: Shanghai Stock Exchange

Date: 28 Oct 2008

CN01/AX/VW/MR/JE/KM