OREANDA-NEWS. April 10, 2013. The board of directors (the “Board”) of Chongqing Iron & Steel Company Limited (the “Company”) received a written resignation from Mr. Xia Tong, vice chairman of the Board, to the effect that Mr. Xia Tong would resign from the positions as a director, the vice chairman, and a member of the strategic committee of the Company due to other work engagements.

The resignation of Mr. Xia Tong was effective upon the delivery of the written resignation to the Board. Mr. Xia Tong has no disagreement with the Board 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 supervisory committee of the Company received a written resignation from Mr. Zhu Jianpai, chairman of the supervisory committee, to the effect that Mr. Zhu Jianpai would resign from the positions as the chairman of the supervisory committee and shareholder representative supervisor due to work adjustment.

The resignation of Mr. Zhu Jianpai was effective upon the delivery of the written resignation to the supervisory committee. Mr. Zhu Jianpai has no disagreement with the Board and the supervisory committee of the Company, and he resigned not for the Company’s reason. 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. Xia Tong and Mr. Zhu Jianpai for their contributions to the development of the Company during their terms of office.