Successful listing of Baosteel convertible warrant bond

On July 4th, convertible warrant bond issued by Baoshan Iron & Steel Co., Ltd. was successfully listed on Shanghai Stock Exchange, with Ticker Symbol of "08 Baosteel Bond", Transaction No. of "126016".

"08 Baosteel bond" is real-name book-keeping bond, with issuing amount totaling 10 billion Yuan and maturity of 6 years. The coupon rate is 0.8% and is paid annually, starting from 2008-6-20 to 2014-6-19 of the expiration date. "08 Baosteel bond" is traded by means of security account trusteeship. Underwritten by CITIC Security Co. Ltd., and guaranteed by Baosteel Group Corporation, the bond was given AAA rating by China Chengxin Security Rating Co., Ltd.

On July 4th, the attached 1.6 billion warrants were also listed. The term of the warrant is from 2008-7-4 to 2010-7-3, and the warrant can be executed on the trading days between 2010-6-28 and 2010-7-3. The initial execution ratio is 2:1 (each two warrants can be executed for one A-share), with initial strike price of 12.50 Yuan per share.