OREANDA-NEWS. December 05, 2011. The board of directors (the “Board”) of Chongqing Iron & Steel Company Limited (the “Company”) announces that Mr. Chen Shan (“Mr. Chen”) has tendered his resignation as a Director, deputy chairman to the Board and member of the strategic committee and other related positions in the Company due to job reallocation, reported the press-centre of Chongqing Iron & Steel Company.

Mr. Chen has confirmed that he has no disagreement with the Board and there are no matters in 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. Chen for his service and valuable contribution made to the Company.