OREANDA-NEWS. NOTICE IS HEREBY GIVEN that the annual general meeting of the shareholders of the Company for 2010 (the “Annual General Meeting”) will be held at the Conference Room of Dongshan Hotel, 108 Dongfeng Street, Tie Dong District, Anshan City, Liaoning Province, the PRC at 9:00 a.m. on Monday, 30 May 2011 for the purpose of considering and, if thought fit, passing the following resolutions, reported the press-centre of Angang Steel Company:

ORDINARY RESOLUTIONS
1. To consider and approve the report of the board of directors of the Company for 2010;

2. To consider and approve the report of the supervisory committee of the Company for 2010;

3. To consider and approve the audited financial statements of the Company for 2010;

4. To consider and approve the proposal for distribution of the profits of the Company for 2010;

5. To consider and approve the proposed remuneration of the directors and supervisors of the Company for 2010;

6. To consider and approve the appointment of each of RSM China Certified Public Accountants (special general partnership)

and RSM Nelson Wheeler Certified Public Accountants as the domestic and international auditor of the Company, respectively, for 2011, and to authorise the board of directors of the Company to determine their remunerations;

7. To consider and approve to grant to the board of directors (the “Board”) and/or the committee of the Board (which is composed by the directors of the Company and authorized by the Board) an unconditional general mandate to allot and issue domestic shares (the “A Share(s)”) and/or foreign shares listed overseas (the “H Share(s)”), the aggregate nominal amount of which shall not exceed 20% of the respective aggregate nominal amount of the issued A Shares and/or H Shares of the Company on the date of the passing of this resolution (the “General Mandate”). The General Mandate shall be valid for the period from the date of passing of this special resolution until the earliest of:

(1) the conclusion of the next annual general meeting of the Company following the passing of this resolution;

(2) the date on which the 12-month period following the passing of this resolution expires; or

(3) the date on which the authority granted to the Board according to this special resolution is revoked or amended by a special resolution of the shareholders of the Company at any general meeting.

Any exercise of the power by the Board and/or the committee of the Board as mentioned above under the General Mandate shall comply with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the articles of association of the Company and the applicable laws and regulations of the PRC.

REPORTS PRESENTED BY INDEPENDENT NON-EXECUTIVE DIRECTORS TO THE ANNUAL GENERAL MEETING FOR SHAREHOLDERS’ INFORMATION

Reports prepared by each of the independent non-executive directors, namely, Mr. Li Shijun, Mr. Ma Guoqiang and Mr. Kwong Chi Kit, Victor, in relation to his discharge of duties during 2010, pursuant to the relevant laws and regulations of the PRC and the rules of Shenzhen Stock Exchange, are enclosed hereto for the purpose of being presented to the Annual General Meeting for the shareholders’ information.