China Zhongwang signs additional Strategic Alliance Agreement with CSR

Further to the collaboration with China CNR Corporation Limited (China CNR), on 28 Mar 2009, we signed another strategic alliance agreement with China South Locomotive & Rolling Stock Corporation Limited (CSR), a leading railway and transportation equipment manufacturer in China.

After thorough discussion, a certain terms of collaboration were reached between China CNR and us. It was agreed that both parties will continue to maintain the current win-win relationship and further strengthen our supply and demand cooperation and that as long as our products satisfy the requirement of China CSR in terms of product performance, quality and price, China CNR will guarantee the quantity purchased from us and will increase its order gradually; on the other hand, we promised to enhance our R&D capability and provide aluminum extrusion products with advanced technology and high quality. We also agree to give priority to China CSR in the areas of materials production, sales order and delivery. Discounts will also be made on the products to China CSR when appropriate, whereas China CSR will offer technical supports and provide information about technology and product quality to the Company.

This new strategic alliance marks the increasingly close relationship between our company and the major transportation equipment manufacturers, while further broadening the Company s development opportunities in the transportation sector.