January 13, 2011

All members, designated delivery oil depots for fuel oil and designated inspection institutions for fuel oil:

Upon the approval by the China Securities Regulatory Commission, the Exchange has amended the futures contract of fuel oil and relevant detailed implementation rules (Please refer to Exchange Announcement (2011) No.2).Please be aware of and follow the arrangements as below.

I. The amended contents of fuel oil futures contract and relevant detailed implementation rules shall come into effect as of the listing of FU1202 Contract.

II. The interim for this amendment to the fuel oil contract and detailed implementation rules is from today to November 30, 2011.

III. The original rules shall remain valid for contracts listed; the new rules shall be effective as of the listing of FU1202 and follow-up contracts.

IV. Oils Entry and exit management of oil product during the interim

1. During the interim, the existing standards (hereinafter referred to as old standard) serve as the quality standards for oils entry and exit with the entry of oil strictly prohibited if failied with the mixing test.

2. Oils of new and old standards shall be separately stored during the interim. Entries shall be inspected simultaneously with new and old quality standards; those meeting both or meeting only old standards can still generate standard warrants for delivery; those meeting only new standards can only be entered after December 9, 2011 to generate standard warrants. Exits before December 9, 2011 shall still be subject to the old standards. The entry inspection fee for new parameters during the interim shall be born by the Exchange.

V. Publication and cancellation of old standard warrants

1. From March 2011, the Exchange shall publish the old and new standard warrants quantity for each designated delivery oil depot each week in the Inventory Weekly.

2. Contract FU1112 is the last deliverable fuel oil contract under old standards.

(1) Allocation of new and old standard warrants

Allocation principle for new and old standard warrants: warrants held by customers shall be proportionally allocated according to the new and old standards oils quantities.

Warrants allocation basis for each designated delivery oil depot: prorated by the quantities of its oils under new and old standards as published in the Inventory Weekly on December 9, 2011

Allocation time: after the market closing on December 9, 2011.

Allocation method: automatic rounding allocation by system

(2) After the allocation of new and old standard warrants, those only meeting old standards shall be automatically cancelled. After warrant cancellation, the customer must sign the spot goods storage agreement with the relevant designated delivery oil depot and move out of the futures tanks before January 31, 2012.

After the market closing on December 9, for those warrants meeting the new standards, every warrant of the face value of 100 tons shall be evenly substituted for 2 warrants of the face value of 50 tons by the system.

VI. Work arrangements of designated delivery oil depots and inspection institutions during the interim

During the interim, all designated delivery oil depots shall make efforts in dealing well with separate storage of entry of new and original standard oils; checking, recording and follow-up of the oils in the depot, the new and original standard warrants and warrant owners; timely reporting to the Exchange as required; strictly signing relevant warrant cancellation agreement with customers whose original standard warrants are cancelled, and assisting them with warrant cancellation.

All designated inspection institutions shall be strict with inspection so as to ensure a smooth transition between new and old standard contracts during the interim.

VII. Arrangements on the member-end technology system

Members shall contact their technology system suppliers and market data system vendors, make detailed rules concerning the transition between new and old contracts and measures of modification to the technological parameters, and join in the test organized by the Exchange on transaction and clearing in the last third part of January, 2011, so as to validate the above measures and ensure a safe transition.

VIII. Matters that are not addressed by this notice in respect of the interim arrangements on fuel oil contract and relevant implementing detailed rules shall be subject to the regulations that the Exchange shall announce in due course.