Shandong Molong signed long-term cooperation agreements with South China Petrochemical Group (“SCPG”) and a five-year long-term cooperation agreement with SB International Inc (“SBI”) on 12 July 2008 and 14 July 2008 respectively. Details of the agreements are published on the Investor Relations of this Website.

　　The signings of the agreements demonstrate the customers’ confidence in the Company’s future development, especially after the 180 millimeters special petroleum pipes reconstruction project has started to be constructed; while on the other hand, help to increase of the Company’s market shares in North America and Russian, strengthen the Company’s market reputation and consolidate the Company’s position in the international market.