晨鸣纸业第四届董事会第十次会议决议公告（英文版）

Stock ID: Chenming Paper， Chenming B， Stock Code: 000488 200488Bond ID: Chenming Bond， Bond Code: 125488， Announcement No. 2005-028

SHANDONG CHENMING PAPER HOLDINGS LIMITED

Resolutions of the 10th Meeting of the 4th Term of Board

The 4th term of Board of Shandong Chenming Paper Holdings Limited (the Company)

informed the 15 directors about holding of its 10th meeting in term of written message

and fax on October 14th 2005. The meeting was held in the 3rd floor of Chenming Hotel

on October 25， 2005. 10 of the 15 directors presented the meeting. Director Guo

Xiucheng， Zhou Shaohua and independent director Zhao Jinghua， Wang Zhihua and

Diao Yuntao absented the meeting for they were on business travel. The meeting was

complying with relative laws and acts and provisions of the Article of Association of the

Company.

The following proposals were examined and passed by the meeting as resolutions:

I. The 3rd Quarterly Report of 2005

II. The proposal of providing guarantee for the bank credit granted to Jilin Chenming

Paper Co.， Ltd.The Company will provide Jilin Chenming Paper Co.， Ltd. the guarantee for RMB700million of integrated bank credit to help with the construction of new projects and

normal operation.Jilin Chenming is about to apply to Jilin Commercial Bank Huitong Branch for the

integrated credit of RMB200 million; apply to Bank of China Jilin Branch for RMB300

million; and RMB200 million from other banks. The interest rates are applied to be 5%

lower than the standard rate.The above is for the attention of the shareholders.The Board of Directors of

Shandong Chenming Paper Holdings Co.， Ltd.October 25， 2005