On 5 Jun 2008 the company will issue an announcement regarding the implementation of its 2007 Profit Distribution Scheme and the adjustment of the conversion price of its convertible bonds traded with detachable warrants. Following the implementation of the 2007 Profit Distribution Scheme, the company will adjust the conversion price of its convertible bonds traded with detachable warrants in accordance with the prospectus and all relevant laws and regulations. Trading in 'Baotou Steel Convertible Bonds’ will be suspended from 4 Jun 2008 to the date of record of the distribution scheme and will resume on the ex-right and ex-dividend date. Investors who are interested in the dividend payment should convert the bonds to shares before 4 Jun 2008.

Board of Directors
30 May 2008


Source: Shanghai Stock Exchange

Date: 30 May 2008

CN01/DM/MM/KM