Attached please find a press release on: Baosteel Group Corporation ("Baosteel" or "the company") has been advised that the Foreign Investment Review Board (‘FIRB") has approved the investment with Aquila Resources Limited ("Aquila"), an Australian diversified mining company, to acquire a 15% stake in the Company for AUD$285.6 million (equivalent to RMB 1.65 billion). Baosteel will become the second largest shareholder in Aquila.