At the 2nd Meeting of the 5th Board of Directors and the 2nd Meeting of the 5th Board of Supervisors held on 11 Jun 2008, the following proposals were examined and approved:

1. to increase the registered capital of Pingdingshan Coal Co. Ltd to RMB 7,821,310,000 from RMB 6,917,690,000, after which the company will hold an 11.55% stake in Pingdingshan Coal, becoming the second-largest shareholder of Pingdingshan Coal.
On 11 Jun 2008 the company signed an agreement with Pingdingshan Coal for the increase of registered capital, which will take effect following the approval of a general meeting of shareholders of Pingdingshan Coal.

2. to jointly increase the registered capital of Wuhan Steel Group Coking Co. Ltd, a wholly-owned subsidiary of the company, to RMB 1.8 bln from RMB 542.14 mln with Pingdingshan Coal, after which the company and Pingdingshan Coal will each hold a 50% stake in Wuhan Steel. Wuhan Steel Group Coking Co. Ltd will be renamed Wuhan Pingmei Wugnag Joint Coking Co. Ltd. An agreement regarding this issue was signed between the company and Pingdingshan Coal and will be executed providing that proposal 1 is implemented.

3. to revise the registered capital of Wuhan Iron and Steel (Group) Corp Oxygen Co. Ltd, a subsidiary of the company, from RMB 564,440,000 to RMB 1,267,005,209 (paid-up capital as of 31 Dec 2007), to revise the registered capital of Wuhan Iron and Steel (Group) Corp Metal Resource Co. Ltd, a subsidiary of the company, from RMB 105,970,000 to RMB 118,259,482 (paid-up capital as of 31 Dec 2007), and to revise the registered capital of Wuhan Iron and Steel (Group) Corp Steel Processing Co. Ltd, a subsidiary of the company from RMB 50,000,000 (paid-up capital as of 31 Dec 2007) to RMB 173,500,000 (total project investment).


Source: Shanghai Stock Exchange

Date: 13 Jun 2008

CN01/MZ/BT/WH