Shaanxi Jinye Board of Directors Resolutions Announcement
The third temporary meeting of the fourth board of directors of Shaanxi Golden Leaf in 2009 was held on June 19, 2009. The meeting examined and approved the Proposal on Providing Guarantee for the Issuance of L/C for Shaanxi Jinye International Economic Development Co., Ltd.
Agreed to provide a guarantee with a total amount of no more than 30 million yuan for Golden Yee International to open a letter of credit at the Century Star Branch of the Bank of China in Shaanxi Province. The guarantee period is one year from the date of signing the loan contract between Jinye International and the Bank.
As of the announcement disclosure date, the company's total external guarantee amounted to RMB 60 million, of which: RMB 30 million was provided to the subsidiary of Xigong Da Mingde College, and RMB 30 million was provided to Jinye International, a wholly-owned subsidiary, with no overdue guarantees. 

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