09:20     SHOUGANG GRAND<00730> - Announcement (2)                            

    The figures contained in the printed Major Transaction                    
    Circular (both English and Chinese versions), the                         
    printed Chinese version of the Offer Document, and the                    
    announcement published on 14 January 2005 for the                         
    dispatch of the Major Transaction Circular and the                        
    Offer Document are correct. All versions of the Major                     
    Transaction Circular and the Offer Document posted on                     
    the Stock Exchange website are correct.                                   
                                                                              
    By Order of the Board                                                     
    Shougang Concord Grand (Group) Limited                                    
    Cao Zhong                                                                 
    Vice Chairman                                                             
                                                                              
    Hong Kong, 14 January 2005                                                
                                                                              
    As at the date of this announcement, the board of                         
    directors of Company comprises Wang Qinghai                               
    (Chairman), Cao Zhong (Vice Chairman), Chen Zheng                         
    (Executive Director), Wang Tian (Executive Director),                     
    Cheng Xiaoyu (Executive Director), Leung Shun Sang,                       
    Tony (Non-executive Director), Choy Hok Man,                              
    Constance (Non-executive Director), Tam King Ching,                       
    Kenny (Independent Non-executive Director), Hui Hung                      
    Stephen (Independent Non-executive Director) and Zhou                     
    Jianhong (Independent Non-executive Director).                            
                                                                              
    The directors of SCG and the Offeror jointly and                          
    severally accept full responsibility for the accuracy                     
    of the information in this announcement and confirm,                      
    having made all reasonable enquiries, that to the best                    
    of their knowledge, opinions expressed in this                            
    announcement have been arrived at after due and                           
    careful consideration and there are no other facts not                    
    contained in this announcement the omission of which                      
    would make any statement in this announcement                             
    misleading.