At the 24th Meeting of the 5th Board of Directors held on 24 Apr 2008, the following proposals were examined and approved:

1. the 2008 1Q Report
2. to hold the 2007 Annual General Meeting of Shareholders
3. to provide a 1-year guarantees on a RMB 83 mln line of credit applied for by Henan Huanghe Industry (Group) Co. Ltd, on a RMB 50 mln line of credit applied for by Tianrui Group Casting Co. Ltd and on lines of credit of up to RMB 39 mln applied for by Henan Yinge Industrial Investment Holding Co. Ltd

Board of Directors
24 Apr 2008

CN01/JC/KM/GB