On November 10th, 2011, the 11th Meeting of FREP 1st Term BOD was convened. The meeting was presided over by President Mr. Lu Dong and attended by FREP directors, supervisors, FREP OOP and relevant representatives from shareholders.

At the meeting, Jan.-Sep. Operational Performance in 2011 and the annual prospect were reviewed and the industry benchmarking results for 2010 refining, polypropylene and PX were shared, FREP business plan and salary and benefit plan for 2012 were reviewed and approved, related financial and specific “DOAG” issues were reviewed and approved, and the progress report on the FREP ethylene debottleneck project was reviewed. The BOD fully recognized the achievements of FREP in 2010, hoping that the management and all employees will make persistent efforts in optimizing the operation and improving the performance, try to improve HSE performance and benefit, and strive for building the joint venture into a leading integrated refining and chemical enterprise in Asia.