Luoyang Glass Company Limited announced that on January 22, 2009, the Company and China Luoyang Float Glass (Group) Company Limited (CLFG) entered into the contract with Henan Province Zhenglong Coal Company Limited (Zhenglong Coal) and Yongcheng Coal and Electricity Holdings Group Company Limited (Yongcheng Coal), whereby the Company agreed to sell and Zhenglong Coal agreed to purchase a 37% equity interest in CLFG Finance Company Limited (CLFG Finance Company), subsidiary of CLFG, for a cash consideration of RMB140,111,937.64 (or approximately HKD159,027,049.22). Under the Contract, CLFG, the controlling shareholder of the Company, also agreed to sell and Yongcheng Coal agreed to purchase the remaining 63% equity interest in CLFG Finance Company for a cash consideration of RMB238,568,974.91 (or approximately HK$270,775,786.52).