General Steel Holdings, Inc., a leading manufacturer of high quality hot-rolled steel sheets primarily for use in tractors, agricultural vehicles and other specialty vehicles, announced that two independent Directors have been appointed to the Board of Directors. The appointments bring the total number of independent board directors at General Steel to three, in keeping with the company's goal of qualifying for a listing on a major U.S. exchange.

Ross Warner is a business professional with 13 years in management, training and consulting experience both in China and the United States. He has held sales and business infrastructure management positions in Asia working with rapidly growing international companies. He has a Masters Degree from the American Graduate School of International Management at Thunderbird and a BA in Business Administration from Pacific Lutheran University and University of Copenhagen, Denmark. He is bilingual in English and Mandarin Chinese and is an expert on both American and Chinese business practices.

John Wong is a Managing Partner of Vantage & Associates, a corporate advisory in China. Prior to this position, he was Director of Deloitte Touche Corporate Finance in Shanghai. Having worked at Price Waterhouse, Hong Kong/Beijing, Arthur Andersen, Hong Kong/Shanghai, and Ernest & Young, Hong Kong, he has accumulated extensive accounting and financial experience dealing with rapidly growing companies in China. He received a Bachelor of Commerce degree from Melbourne University and a Master of Finance Degree from Flinders University.

Zuosheng Yu, Director and President of General Steel said, "We are very pleased to add two distinguished business executives to our Board of Directors. Both Mr. Warner and Mr. Wong have worked in China and abroad and we will benefit from their input as General Steel experiences a period of rapid growth and expansion. We want to insure that the Company performs at the highest standards of excellence consistent with best business practices both in China and the United States. We welcome them to General Steel."

General Steel Holdings, Inc. and its 70% ownership in its subsidiary, Tianjin Da Qiu Zhuang Sheet Metal Co., Ltd., (DQ) a P.R. China limited liability corporation, is a manufacturer of high quality hot-rolled steel sheets primarily for use in tractors, agricultural vehicles and other specialty vehicles. Since 1998, it has expanded its operations to six production lines capable of processing 250,000 tons of 0.7-2.0mm hot-rolled carbon steel sheets per year, making the company the largest producer in its product category in China, with a 40% market share of all steel sheets used in the production of agricultural vehicles in China. In 2004, its sales revenue was over $87 million and its total assets were worth nearly $53 million. The company recently announced an initial stage joint venture agreement with the China Inner Mongolia Baogang Steel Union, which is anticipated to increase the annual steel sheet production from the current 250,000 tons to over 1 million tons when the joint venture transaction is accomplished.