Press Release

Sumitomo Metal Industries, Ltd. (Sumitomo Metals) and China Steel Corporation had jointly requested to the Government of Vietnam approval for investment in an advanced steel sheet project (China Steel Sumikin Vietnam Joint Stock Company [CSVC]) in the spring of 2008. On May 12th, 2009, an investment certificate was obtained.

CSVC will produce a full lineup of high-grade steel sheet products including for automobiles. Annual production of 1.6 million MT is planned in view of anticipated demand from customers in Vietnam and nearby countries. Despite the current difficult economic conditions, Sumitomo Metals and China Steel will proceed as planned.

(Profile of China Steel Corporation (CSC))

(Location of CSVC)