Shanghai Prime Machinery Company successful bid for 100% interest of Zhenhua Bearing

The Board of Shanghai Prime Machinery Company Limited is to announce that on 23 February 2010,the company successfully bids for Zhenhua Bearing at a total consideration of RMB 78.6 million.As disclosed in the Circular,the company will enter into the Zhenhua Acquisition Agreement with Shanghai Hydraulics and pay the bidding sum of RMB 78.6 million before 1 March 2010.