On 19 Nov 2008, the Public Offering Review Committee of the China Securities Regulatory Commission conditionally approved the company's plan to issue up to RMB 30 bln worth of corporate bonds. The company will make a further announcement upon receipt of a formal notice from the CSRC.

Pursuant to resolutions of the 1st 2008 Extraordinary General Meeting of Shareholders, the company will apply with the National Association of Financial Market Institutional Investors to issue up to RMB 30 bln worth of medium term notes at appropriate time, within the upper limit of RMB 60 bln that authorized by a general meeting of shareholders.

Board of Directors
21 Nov 2008


Source: Shanghai Stock Exchange

Date: 21 Nov 2008

CN01/FL/JL/VW/JW