BEIJING, Oct. 21 /Xinhua-PRNewswire-FirstCall/ -- General Steel Holdings, Inc. ('General Steel'), (the 'Company'), (NYSE: GSI), one of China's leading non-state-owned producers of steel products and aggregators of domestic steel companies, today announced the 20th year anniversary celebration of the Company's founding subsidiary, Tianjin Daqiuzhuang Metal Sheet Co., Ltd. and listing on the NYSE Big Board.

'Celebrating these significant milestones provides us the opportunity to reflect on the tremendous accomplishments of our company over the last two decades,' said Mr. Henry Yu, General Steel's chairman and chief executive officer. 'As one of China's first non-government-owned steel companies, General Steel is today one of the fastest-growing steel companies in China, with a controlling interest in four steel subsidiaries and an aggregate production capacity of 4.8 million tons. We are proud of our strong market position and confident in our established track record of bringing together foreign capital, industry knowledge and sophisticated management practices to consolidate China's extensive and highly-fragmented steel industry.'

On August 8, 2008, General Steel's common stock began trading on the NYSE Big Board. Prior to listing on the NYSE Big Board, General Steel's common stock traded on the NYSE Arca since March 6, 2008. General Steel is the first Chinese company to list on the NYSE Arca and the first Chinese company to transfer from the NYSE Arca to the NYSE Big Board, which the Company accomplished within a span of six months. General Steel is also the first company from the municipality of Tianjin to join the NYSE Euronext network.

Mr. Yu continued, 'While global financial conditions are changing the supply and demand landscape, resulting in challenging times for companies across a number of industries, we expect that our diverse portfolio of steel companies will allow us to weather these storms. We will continue to execute on our strategy of acquiring state-owned enterprises and select private operations with extraordinary potential, remain focused on costs, and be on the lookout for opportunities presented by current market conditions and attractive valuations. As China continues on its path toward development and prosperity, we look forward to another 20 years of robust growth.'

The celebration was attended by prominent industry leaders and government officials including Mr. Mengfu Huang, vice chairman of the National Committee of the People's Political Consultative Conference and president of the All China Federation of Industry & Commerce, Mr. Jindu Cui, vice mayor of Tianjin, Mr. Jianchang Wu, advisor of the China Iron and Steel Association, Mr. Yuanlong Zhang, vice president of the All China Federation of Industry & Commerce and Mr. Zhongyue Gui, deputy director of the National People's Congress of Shaanxi Province.

About General Steel Holdings, Inc.

General Steel Holdings, Inc., headquartered in Beijing, operates a diverse portfolio of Chinese steel companies. With 4.8 million tons aggregate production capacity, its companies serve various industries and produce a variety of steel products including rebar, hot-rolled carbon and silicon sheet, high-speed wire and spiral-weld pipe. General Steel Holdings, Inc. has steel operations in Shaanxi and Guangdong provinces, Inner Mongolia Autonomous Region and Tianjin municipality. For more information, please visit to http://www.gshi-steel.com .

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