OREANDA-NEWS. March 22, 2011. The fifth meeting of the fifth Board of Chongqing Iron & Steel Company Limited (the “Company”) was held. Nine of the nine Directors supposed to attend were present at the meeting, and Independent Director Mr. Liu Tian Ni, who was unable to attend the meeting in person due to other business engagement, authorized Independent Director Mr. Liu Xing to attend and vote at the meeting on his behalf, reported the press-centre of Chongqing Iron & Steel Company.

The meeting was chaired by Mr. Chen Shan, Vice Chairman of the Board. The supervisors and senior management members of the Company attended the meeting as non-voting participants. The meeting was convened and held in compliance with the requirements of relevant laws, regulations and the articles of association of the Company.

 After a careful consideration by the directors present at the meeting, the following matters were approved with 9 affirmative votes, 0 dissenting vote and 0 abstaining vote:

I. To elect Mr. Deng Qiang as the chairman of the fifth Board of the Company.

II. To appoint Mr. Deng Qiang as the chairman of the third Strategic Committee of the Board of the Company.