OREANDA-NEWS. February 17, 2014. The board of directors (the “Board”) of Chongqing Iron & Steel Company Limited (the “Company”) received a written resignation from Mr. Chen Hong to the effect that Mr. Chen Hong would resign from the positions as an executive director, the general manager and a member of the strategic committee of the Board of the Company due to age reason.

The resignation of Mr. Chen Hong was effective upon the delivery of the written resignation to the Board. Mr. Chen Hong has no disagreement with the Board and management of the Company, and there is no matter relating to his resignation which needs to be brought to the attention of the shareholders of the Company.

The Company would like to express its gratitude to Mr. Chen Hong for his contributions to the development of the Company during his term of office.