[Hong Kong, 11 September 2008] Shougang Concord International Enterprises Company Limited (the “Company”) announced that it has repurchased 27,306,000 shares today. Save for this, its controlling shareholder Shougang Holding (Hong Kong) Limited (“Shougang Holding”) has also through its wholly owned subsidiary purchased 10,450,000 shares in the Company today. The shareholding in the Company held by Shougang Holding has thereafter increased to 41.44%