Limac Corporation

HEJIN SIGNED DISCHARGING DEBT BY EQUITY RIGHT AGREEMENT WITH LIMAC

Time：2008-12-5Hit：1351

On December 4^th,2008, HEJIN signed DISCHARGING DEBT BY EQUITY RIGHT AGREEMENT with LIMAC. HEJIN transferred its 62% shares of Dalian Electric Power Real Estate Development Co.,Ltd to LIMAC,in order to pay off its debt of RMB144,628,888.00 towards to LIMAC when debt reorganization.

This transaction fully demonstrates LIMAC's support to its listed companies.After this,HEJIN will reduce its debt equity ratio from 70.9% to 51.5% and has a great optimization in debt structure.Meanwhile,HEJIN shrinks its investing fields and reduces financial cost,in order to concentrate capital to projects with stable cash flow and good profits.These will realize the listed company's healthy operation and rapid development.

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