CSRC Approved Private Placement

At its 2nd 2008 Extraordinary General Meeting of Shareholders, the company was granted conditional approval to place A-shares with certain investors.

On 21 Nov 2008, the Issuance Review Committee of the China Securities Regulatory Commission conditionally approved the company's application for its private placement. Additional information will be disclosed upon receipt of a formal document from the CSRC.

Board of Directors
21 Nov 2008


Source: Securities Times

Date: 24 Nov 2008

CN01/RP/JL/VW/JW