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ENVIRONMENTAL RELOCATION OF PRODUCTION ACTIVITIES CHANGE OF REGISTERED ADDRESS

The board of directors (the “Board”) of Iron & Steel Company Limited (the “Company”) announces that according to the requirements of environmental protection, industrial layout and planning of Chongqing Municipal Government, the Company implemented the environmental relocation strategy. As at 22 September 2011, the Company closed down all its production facilities in Dadukou of Chongqing in the People’s Republic of (“PRC”) and transferred all its production activities to Jiangnan Town, of Chongqing in the PRC.

Upon approval by 2010 general meeting of the Company held on 27 May 2011, the Company has moved its registered address to No. 1 of Gangcheng Avenue, Economic & Technological Development Zone, Changshou District, Chongqing, the PRC 401258. The Company’s place of business will be relocated to the Management Building ( 管控大樓), No. 1 of Gangcheng Avenue, Economic & Technological Development Zone, Changshou District, Chongqing, the PRC 401258 from 1 October 2011.

— 1 — The Board further announces that Chongqing Iron & Steel Group Company Limited, the Company’s controlling shareholder as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) has agreed to indemnify the Company for losses in relation to the environmental relocation, the Company will engage accountants to conduct a special audit of the losses arising from the Company’s relocation on the basis of the date as at 30 September [2011]. The Company will fulfil its obligations to disclose information in a timely manner in accordance with the Listing Rules and other relevant rules in line with the progress of the relocation. Investors are advised to pay attention to and safeguard the risks involved in investment.

By order of the Board Chongqing Iron and Steel Company Limited You Xiao An Secretary to the Board

Chongqing, the PRC, 22 September 2011

As at the date of this announcement, the Directors of the Company are : Mr. Deng Qiang (Non-executive Director), Mr. Yuan Jin Fu (Non-executive Director), Mr. Chen Shan (Executive Director), Mr. Chen Hong (Executive Director), Mr. Sun Yi Jie (Executive Director), Mr. Li Ren Sheng (Executive Director), Mr. Liu Xing (Independent Non- executive Director), Mr. Zhang Guo Lin (Independent Non-executive Director) and Mr. Liu Tian Ni (Independent Non-executive Director).

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