Stock Code: 000569
Stock Abbreviation: Great Wall Co.
Announcement No.: 2009-004
Panzhihua New Steel & Vanadium Co., Ltd. has received approval from the China Securities Regulatory Commission for its major asset restructuring plan, which includes the issuance of shares to acquire assets and the merger with Panzhihua Steel & Vanadium Co., Ltd. and Great Wall Co. This approval was granted on December 25, 2008 (Approval No. [2008] 1445). Currently, the company, Panzhihua New Steel & Vanadium Co., Ltd., Panzhihua Steel & Vanadium Co., Ltd., and the third party for cash options, Anshan Iron and Steel Group, have completed the necessary preparations for the merger and cash option implementation. The company will issue announcements regarding the merger and cash options no later than April 3, 2009, to commence the implementation of the merger and cash option plan.