Thanks Letter to CFHI

At the moment of celebrating the Chinese Lunar New Year s Eve and ring out the old year, I am very delighted to extend my most cordial and highest esteem to the management level and hard working works of CFHI on behalf of Baosteel Group.
In the past year of 2007, the development and progressiveness of Baosteel relied on your kind efforts and enthusiastic helps. I d like to express the wholehearted thanks to you.

Sinch a long time, Baosteel and CFHI have established good cooperation relationship and deep friendship during the examination of market competition. In the new competing marketing situation and development requirements, Baosteel and CFHI have confronted with common challenges in many fields. It will bring more realistic significance to expand our cooperation and deepen our friendships.

Baosteel is delighted to obtain continuous awareness and support from your company in the coming works, and wishes to further develop and strengthen the strategic cooperation relationship with your company to pursue a better development prospect.

Best wishes for a happy Chinese Lunar New year, good health and smooth work.

Yours truly,
President of Baosteel Group
Xu Lejiang

Jan 29th 2008