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Wednesday, 12 March, 2008 China Pipe Group Limited Announces Entering into Preliminary Negotiations with a New York Listed Company Regarding Possible Business Development & Share Acquisition (Hong Kong, 12 March 2008) – China Pipe Group Limited (“China Pipe”/ “the Group”) (SEHK code: 380) announces that it has entered into preliminary negotiations with a company whose shares are listed on New York Stock Exchange regarding the possible business development and share acquisition of the Group. The counter-party is a third party independent of the Group. No terms have been agreed between the Group and the counter-party. About China Pipe Group Limited (SEHK Code: 380) The Business of the group was commenced in 1949 as a pipe's retail shop. Now the Group has developed into a conglomerate company and was listed on the Stock Exchange of Hong Kong on 21 December 2000. The principal business of the Group is the importing and selling of a comprehensive range of pipes, fittings and other related accessories of different materials, applications and brandnames in Hong Kong. Sales of the Group's products are conducted either by wholesale or retail sale. In addition, the Group is also engaged in the warehouse business to provide storage services for a variety of products such as lifts, generators, air conditioners, cables, building materials, clothing, shoes and other equipment. ~End~
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