Sep 13, 2012

To whoever may be concerned at the Yanggu Xiangguang Copper Co., Ltd,

We hereby acknowledge receiving your Application for Registration of “XIANGGUANG” Silver Bullion and the relevant documents. In accordance with relevant regulations, such as the Precious Metals Registration for Physical Delivery Regulations of the Shanghai Futures Exchange, the "XIANGGUANG" silver bullion meets all the requirements as prescribed by the Exchange for the silver futures contract when the product passes the on-site inspection, sampling and assaying. Therefore, we notify you of the following:

1. The "XIANGGUANG" silver bullion is granted permission to be registered with the Exchange.

2. Since the release of this Notification, the said product will be qualified for the physical delivery agaisnt the Exchange's silver contract. Product specifications is as below:

　　Producer: the Yanggu Xiangguang Copper Co., Ltd.

　　Place of origin: Yanggu, Shandong Province

　　Product name：Silver bullion（IC-Ag99.99）

　　Trademark：XIANGGUANG

　　Product logo：（as shown in the picture ）

　 Size & dimension：（370±5）*（135±2）*（31±2）mm

　　Piece weight：Approx. 15Kg

　　Warranted unit （30Kg）：two 15Kg pieces

　　Product standard: GB/T 4135-2002