November 5, 2008

China Precision Steel Announces Conference Call to Discuss First Quarter Fiscal 2009 Results

SHANGHAI, China, Nov. 5 /Xinhua-PRNewswire/ -- China Precision Steel , a niche precision steel processing company principally engaged in producing and selling high precision cold-rolled steel products, today announced that it will conduct a conference call at 8:00 a.m. Eastern Time on Tuesday, November 11, 2008 to discuss the first quarter fiscal 2009 results.

Joining Ms. Leada Li, Chief Financial Officer of China Precision Steel, will be Dan Carlson, Non-Executive Director.

To participate in the live conference call, please dial the following number fifteen minutes prior to the scheduled conference call time: 888-339- 2688. International callers should dial 617-847-3007. When prompted by the operator, mention Conference Passcode 105 463 41.

If you are unable to participate in the call at this time, a replay will be available for 14 days starting on Tuesday, November 11, 2008 at 10:00 a.m. Eastern Time. To access the replay, dial 888-286-8010 and enter the passcode 51928087. International callers should dial 617-801-6888 and enter the same passcode 51928087.

This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on . Please access the link at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a 90-day replay will be available shortly after the call by accessing the same link.

About China Precision Steel

China Precision Steel is a niche precision steel processing company principally engaged in the production and sale of high precision cold-rolled steel products and provides value added services such as heat treatment and cutting medium and high carbon hot-rolled steel strips. China Precision Steel produces high precision ultra-thin, high strength (7.5 mm to 0.05 mm) cold- rolled steel products primarily for automotive components, food packaging materials, saw blades and textile needle manufacturing companies in the People's Republic of China. China Precision Steel is expanding into overseas markets such as Nigeria, Thailand, Indonesia and the Philippines. China Precision Steel was incorporated in 2002 and is headquartered in Sheung Wan, Hong Kong. Additional information can be found at the Company's website .

   For more information, please contact:    China Precision Steel    Dan Carlson    Email: [email protected]    Elite IR    Leslie J. Richardson, Partner    Tel:   +852-3183 0283    Email: [email protected]  

China Precision Steel

CONTACT: Dan Carlson of China Precision Steel, [email protected]; Or Elite IR: Leslie J. Richardson, Partner, +852-3183 0283, or [email protected]

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