July 2006 — NT Holding Corp. (NTHH) announced the closing of its acquisition of Shanxi Jinhai Metal Group Limited (Jinhai), a Chinese company that engages in coking coal and steel production in the Shanxi Province of China.

NTHH acquired 58% of the equity of Jinhai through its wholly owned subsidiary American-Asia Metallurgical Industry Limited, a Wholly Owned Foreign Enterprise ("WOFE") established in China. Under the company regulations in China, a WOFE is approved by the Chinese government to own and acquire local Chinese companies.

Jinhai currently employs approximately 500 employees and its production facilities occupy a landmass of approximately 2 million square feet. Jinhai’s current production capability reaches an annual output of approximately 180,000 tonnes of coking coal and 200,000 tonnes of steel.

"This is an excellent opportunity to demonstrate our abilities to conduct acquisitions on sizable businesses in China," said Peter Chun, CEO of NTHH. "It proves that we are capable to expand our operations in China through acquisitions. Also, the acquisition of Jinhai will further strengthen our profitability in the future as well as create value to our shareholders."

NTHH, through its subsidiaries, invests in and operates companies in China that engage in energy and natural resources businesses. NTHH is based in Hong Kong and currently operates two subsidiaries in Asia: Shanxi Jinhai Metal Group, which is engaged in coking coal and steel production in the Shanxi Province of China; and PT Borneo, which owns a 30-year coal mining right concession in Indonesia. NTHH is positioning itself to support Asia's growing need for power, energy and natural resources.