OREANDA-NEWS. March 23, 2011. The board of directors (the “Board”) of Chongqing Iron & Steel Company Limited (the “Company”) announces that the appointment of Mr. Deng Qiang as an non-executive director of the Company and the resignation of Mr. Dong Lin as director, chairman to the Board, chairman of the strategic committee and other related positions in the Company have been approved at the Company’s 2011 first extraordinary general meeting, reported the press-centre of Chongqing Iron & Steel Company.

Mr. Deng Qiang, Chinese, aged 49, graduated from Metallurgy Department of Chongqing University, majoring in iron refinery. He holds Master’s Degree for Engineering and is a senior engineer. Mr. Deng joined Chongqing Iron & Steel Company (Group) Limited (the “Parent Company”) in 1982, and served, from time to time, as Deputy Head (in charge of general operation) of No.6 Plant and Deputy Director (in charge of general operation) of Steel Business Unit of the Parent Company, Deputy General Manager of the Company, Deputy Chief Engineer of the Parent Company and Head of the Technical Centre of  Chongqing Iron & Steel (during this period, he also held various positions in the wholly owned subsidiaries of the Parent Company as below: Chairman of the Transportation Company Chairman and General Manager of No.3 Steel Company, General Manager of Zhongxing Company and Chairman of No.4 Steel Company, Assistant to the General Manager of the Parent Company and Deputy General Manager of the Parent Company.

Save as disclosed hereinabove, Mr. Deng has not held any directorship in any public listed companies in the last three years and does not have any relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company. Mr. Deng does not have any interests in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance as at the date hereof.

Mr. Deng has entered into a service contract with the Company for such term and he will not receive any remuneration or bonus payments from the Company. There is no other information relating to the appointment of Mr. Deng is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Listing Rules”). Save as disclosed herein, there are no other matters need to be brought to the attention of the shareholders.

The resignation of Mr. Dong Lin as director, chairman to the Board, chairman of the strategic committee and other related positions in the Company has been approved at the Company’s 2011 first extraordinary general meeting. Mr. Dong has tendered his resignation in respect of the aforesaid positions with effect from 19 January 2011 for personal reasons (excessive workload in the Parent Company). Mr. Dong has confirmed that he has no disagreement with the Board and there are no matters relation to his resignation that need to be brought to the attention of the shareholders of the Company. The Board expresses its sincere gratitude to Mr. Dong for his service and valuable contribution made to the Company.

The Board further announces that Mr. Dong Lin has resigned as an authorized representative of the Company pursuant to Rule 3.05 of the Listing Rules (the “Authorised Representative”). Mr. Deng Qiang, is appointed as the Company’s Authorised Representative.