China Gengsheng Minerals, Inc. Signs New Refractory Supply Contract with Jiangsu Sha Steel Group

China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS) ("Gengsheng" or "the Company"), a materials technology company in China with products capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has signed a refractory material supply contract with Jiangsu Sha Steel Group Co., Ltd.'s ("Sha Steel") Zhangjiagang-based subsidiary. Total value of the contract is $1.2 million.

Pursuant to the contract, Gengsheng will ship refractory materials for reheat furnaces used in Sha Steel's hot rolling mill in Zhangjiagang, Jiangsu Province. Sha Steel is China's largest non-state-owned steel producer by output. Founded in 1975 and headquartered in Zhangjiagang, Sha Steel has a total annual capacity of 24 million tons of rolled steel products, according to its Website.

"I'm pleased with our new supply contract with one of China's biggest steel manufacturers," said Mr. Shunqing Zhang, Gengsheng's Chairman and CEO. "Inventories declined in late 2008, but we now are seeing Chinese steel mills quickly re-stocking their products, especially hot rolled steels for infrastructure materials designed for railroads and highways. We are hopeful that the Chinese stimulus package will yield more opportunities like this for us to supply to large steel mills that benefit from this Chinese government policy."

About Jiangsu Sha Steel Group Co., Ltd.

Jiangsu Sha Steel Group Co., Ltd. ("Sha Steel") is the largest steel maker in China of the Electric Arc Furnace (EAF) process and of specialty steel. It is also the key enterprise of Jiangsu Province, and China's largest non-state- owned steel company. Sha Steel has a total asset of over RMB 100 billion and 26,700 employees. Presently it has an annual production capacity of 22.3 million tons of iron, 27.2 million tons of steel, 23.9 million tons of rolled products and 1 million tons of stainless steel plates.

In 2008, Sha Steel ranked 36th among the top 500 Chinese industrial enterprises, 12th among the top 500 Chinese manufacturing enterprises and 2nd in all Chinese non-state-owned enterprises.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.