Chen Daxiong

Shanghai Electric (Group) Corp. (SEC) and the shareholders of Goss International Corp., including majority shareholder MatlinPatterson Global Opportunities Partners, have reached an agreement for the utility and equipment manufacturing conglomerate to become the second largest shareholder of the printing equipment supplier by acquiring newly issued shares of Goss International preferred stock. This transaction is currently under governmental review for final approval and is subject to other customary conditions to closing.