OREANDA-NEWS. April 05, 2011. The eighth meeting of the fifth session of the supervisory committee (the “Supervisory Committee”) of Angang Steel Company Limited (the “Company”) was held at the Angang Dongshan Hotel, reported the press-centre of Angang Steel Company.

All of the current three supervisors of the Company attended the meeting in person, which was in compliance with the quorum stipulated in the articles of association of the Company. At the meeting, the following resolutions were formed upon sufficient discussions:

1. The Report of the Supervisory Committee for 2010 was approved with 3 affirmative votes, 0 dissenting vote and 0 abstained vote.
The proposal will be submitted for consideration and approval at the annual general meeting for the year of 2010 of the Company (“2010 AGM”).

 2. The proposal in relation to the remunerations of the supervisors for 2010 was approved with 3 affirmative votes, 0 dissenting vote and 0 abstained vote.

The proposal will be submitted for consideration and approval at the 2010 AGM.

3. The 2010 Annual Report and its Summary was approved with 3 affirmative votes, 0 dissenting vote and 0 abstained vote.

The Supervisory Committee duly considered the 2010 Annual Report and provided the following comments upon review:

1. The preparation and consideration procedures of the 2010 Annual Report of the Company were in compliance with the various provisions of laws, regulations, the articles of association and internal management system of the Company;

2. The contents and formats of the annual report are in compliance with various requirements of the China Securities Regulatory Commission (CSRC) and the Shenzhen Stock Exchange and the information contained therein could truly reflect in all aspects the matters including the operation and management as well as the financial position of the Company for the year;

3. Before these comments were made, the Supervisory Committee was not aware of any acts against the confidential provisions by the personnel who participated in the preparation and consideration of the annual report;

4. The Supervisory Committee is of the opinion that the annual report is true, complete, accurate and fully reflect the annual results of the Company for 2010 without detriment to the interests of the Company’s shareholders.

4. The Self-valuation Report on Internal Control for 2010 was approved with 3 affirmative votes, 0 dissenting vote and 0 abstained vote.

The Supervisory Committee duly considered the Self-valuation Report on Internal Control for 2010 and provided the following comments upon review:

1. In accordance with the relevant requirements of CSRC and the Shenzhen Stock Exchange and complying with the basic principles of internal control, the Company established a relatively comprehensive internal monitoring system through integration with its actual situations. No material deficiencies or abnormalities were found in the existing internal monitoring system of the Company in terms of completeness, systematicness, efficiency and compliance with regulations.

2. The internal review mechanism of the Company is able to operatively ensure the effective operation of the internal monitoring system.

3. No acts of the Company in violation of the provisions in relation to internal control under the Guidelines for Internal Control of Listed Companies of the Shenzhen Stock Exchange in 2010 was found.

4. The self-assessment on internal control of the Company is complete, true and accurate, and has reflected the actual conditions of the internal control of the Company.