TO: THE TIANJIN TOTAL LOGITICS CO., LTD

FILING SERIAL: SQPF[2013] NO. 32

This is an official response to your application for the Exchange certified warehouse for delivery of lead futures, and with respect to the Certified Delivery Warehouse Regulations of the Shanghai Futures Exchange, we approve of your company's warehouse located at 55, Beicangdao, Beichen District, Tianjin as the Exchange certified warehouse for delivery of lead futures, with an approved storage capacity of 15,000 tons of lead.

Since the date of this document's issuance, your company shall conduct physical delivery business at the certified warehouse under the approved storage capacity as abovementioned. Your company shall also tightly implement relevant regulations through strengthening the management, so as to ensure that each physical delivery at the certified warehouse is properly done in an orderly manner.