Sifangda: Announcement of Resolutions of the Eleventh Meeting of the Second Board of Supervisors

All members of the company and the board of supervisors guarantee that the contents of the announcement are true, accurate and complete, and there are no false records, misleading statements or major omissions.

On April 16, 2013, the Supervisory Board of Henan Sifangda Superhard Materials Co., Ltd. (hereinafter referred to as “the Company”) issued the eleventh meeting of the second session of the Supervisory Committee to all supervisors by direct delivery or e-mail (hereinafter referred to as Notice of "this meeting" or "meeting"). The meeting was held on-site at the meeting room on the fourth floor of the company at 11:00 am on May 27, 2013.

At this meeting, there should be 3 supervisors and 3 actual supervisors. The meeting was held in compliance with the relevant provisions of the Company Law and the Articles of Association. The meeting was convened and presided over by Ms. Yang Aiyong, Chairman of the Board of Supervisors of the Company. The supervisors of the meeting carefully reviewed the topics of this meeting and passed the following resolutions by registered ballot and formed the following resolutions:

Reviewed and passed the "Proposal on the Use of Bank Acceptance Bills to Pay Funds for Investment Projects"

After careful verification and discussion, all supervisors unanimously agreed that the company used bank acceptance bills to pay for the payment of project funds, equipment purchases, materials procurement, etc. in the investment projects of the raised funds. There is no change in the use of funds raised in disguised form or affect the investment plan of the raised funds. The situation will help to further improve the efficiency of capital use, reduce the cost of capital use, and better protect the interests of the company and shareholders. We agree that the company will use bank acceptance bills to pay for fundraising projects.

The result of the vote was 3 votes in favor, 0 votes against, and 0 abstentions.

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