On March 31, 2011, FREP Board of Directors held the 10th meeting, which was hosted by Lu Dong, the Chairman of the Board and attended by directors, supervisors, OOP and relevant representatives from shareholders. At the meeting, 2010 work conditions, 2011 capital projects and profit update were briefed by FREP Management and relevant proposals were reviewed and approved. FREP BOD had fully recognized the achievements of FREP in 2010, hoping the management and all employees to make persistent efforts in optimizing the operation and improving the performance, try to improve HSE performance and benefit, ensure the realization of various objectives in 2011, and strive for building the joint venture into a leading integrated refining and chemical enterprise in Asia.