In compliance with the requirement s of a notic e issued by China Securities Regulatory Commission and the Securities Association of Beijing, the company has conduct ed an internal review on corporate governance, actively coordinated with an onsite inspection which resulted in major adjustments to address the relevant problems.

The company hereby announces that major work on corporate governance rectification is in progress. Detailed information related to the report can be found on the Shanghai Stock Exchange website (www.sse.com.cn), dated 24 Nov 2008.

Board of Directors
23 Nov 2008

Source: Shanghai Stock Exchange

Date: 24 Nov 2008

CN01/NZ/DM/VW/JW