At the 13th Meeting of the 3rd Board of Directors held on 9 May 2008, the following proposals were examined and approved:

1. to guarantee loans taken from banks by Baicheng Tianqi Equipment & Machinery Co. Ltd
2. to revise the Articles of Association of the company
3. to hold the 1st 2008 Extraordinary General Meeting of Shareholders in the meeting room of the company's headquarters on 26 May 2008, at which proposal 2 will be examined

Shareholders of record on 22 May 2008 are entitled to attend the meeting.

Board of Directors
10 May 2008

CN01/JC/KM/GB