Vice President Mr. Dong Zhixiong Leading a Delegation Visiting Baosteel and Chongqing Steel

Vice president Mr. Dong Zhixiong led a delegation visiting Baosteel and held a discussion with Baosteel vice general manager Mr. He Wenbo. During the discussion, on behalf of Sinosteel, vice president Dong expressed season’s greetings to general manager He and other attending leaders and gratitude to the support from Baosteel to Sinosteel. He also briefly introduced the achievements in Sinosteel 2005 business operation, overseas resources development and domestic merging and acquisition and expressed the wish to conduct all-round cooperation in other fields besides iron ore and to further promote the signing of Sinosteel-Baosteel strategic cooperation agreement. General manager He warmly welcomed vice president Dong, made a brief introduction of Baosteel 2005 operation situation and iron ore purchase in 2006. He was also willing to hold discussions at proper time on strategic cooperation. Vice president Dong and general manager He also exchanged views and opinions on 2006 Chinese iron ore market situation and prosperity. Personnel from Sinosteel Trading attended the meeting. The delegation led by Mr. Dong Zhixiong also visited Chongqing Steel and held a discussion with chairman Mr. Tang Minwei and general manager Mr. Dong Lin. On the discussion, vice president Dong expressed spring festival greetings to Chongqing Steel attendants and sincere gratitude to the support from Chongqing Steel. Mr. Dong also introduced Sinosteel core businesses, overseas resources development and domestic acquisition. Chairman Tang welcomed the visiting delegation and thanked for the support and cooperation in iron ore supply. They retrospected on friendly cooperation in trade and equipment contracting and wished to expand and deepen all-round cooperation in other fields on the basis of the current cooperation. On the meeting, they also communicated on 2006 market situation and prosperity of iron ore and steel and raw materials. Personnel from Sinosteel Trading also attended the meeting.