At the 1st 2008 Extraordinary General Meeting of Shareholders, held on 20 Nov 2008, the following proposals were examined and approved:

1. to accept the resignation of Peng Shaobing from his position as an independent director and to elect Xiang Xianhu as his replacement

2. a related-party transaction regarding asset swap

Board of Directors
20 Nov 2008


Source: Shanghai Stock Exchange

Date: 21 Nov 2008

CN01/NS/MR/VW/JW