At th 8th 2008 Extraordinary Meeting of the 5th Board of Directors, held on 24 Nov 2008, the following proposals were examined and approved;

1. to apply for a one-year RMB 42 mln loan with Daqing Commercial Bank, in which the company holds a 4.51% stakeis and is the seven-largest shareholder, and to extend a RMB 100 mln loan with China Construction Bank, Xingning sub-branch for three additional years, with previously-pledged assets as collateral

The aforementioned two loans are both guaranteed by Guangdong Dading Mining Corporation.

2. to continue to provide a joint liability guarantee on a RMB 20 mln working capital loan for Guangdong Shaoguan Zhongli Generating Equipment Co., Ltd., in which the company holds a 95.33% stake, with Huaxia Bank, Guangzhou branch, effective from the disbursement of the loan and untill the principal and related interests are repaid.

As of the date of this announcement, guarantees provided by the company total RMB 155 mln (the aforementioned guarantee included), of which RMB 20 mln are provided for its subsidiaries and RMB 135 mln are provided for its affiliates. There are no guaranteed loans in arrears.

Board of Directors
24 Nov 2008


Source: Shanghai Stock Exchange

Date: 26 Nov 2008

CN01/AX/MR/VW/JW