XAB Announced a Change of Their Equity Division Reform

Resource from: cbcc-yinx Likes:3047

May 25,2006

Previous program: Xiangyang Automobile Bearing Co.,Ltd(XAB)'s(Shenzhen Exchange:000678) Equity Division will be practised by transfering capital surplus to new float. 23,670,465 shares will be distributed to former float shareholders based on the rule that every 10 holding float get 3 more float. All shares distributed to former float shareholders were from the capital surplus. After the share distribution to all former float shareholders, the former non-float shareholders have all their share floatable. Namely, there are no non-float shareholders at all from then on. Present program: After consultation with float shareholders, XAB decided to increase the number of distribution share from 23,670,465 to 26,826,528. As a result, the distribution rule was changed to every 10 holding float get 3.4 more float. Other terms of their equity division reform is as before. If you are interested in it, visit XAB's homepage at http://www.zxy.com.cn Notice: XAB's equity division reform has been accomplished, they have been relisted in Shenzhen Exchange on May 22.

(cbcc-yinx)

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