August 17, 2012

China State Reserve Bureau Zhejiang 837 Branch：

Your company's Application for Registration with the Exchange as its Certified Delivery Warehouse of Copper Contract has been duly received. In accordance with relevant regulations, specifically the Administrative Regulations of Shanghai Futures Exchange on its Certified Warehouses, you're hereby notified of the following upon our consideration:

1. Approval of your branch's warehouse located at 331 Datong Road, Zhenhai District, Ningbo City as the Exchange's designated warehouse for delivery of copper contract with an approved storage capacity of 20,000 tons of copper.

2. Since the release of this Notification, your company should conduct businesses regarding delivery of copper contract based on the approved storage capacity, and shall not set regional premiums and discounts for the time being when generating copper contract warrants. Your company should strictly carry out relevant regulations, enhance management, and make sure that businesses at Certified Delivery Warehouse are conducted in a proper and orderly manner.