Update to China Gerui Advanced Materials Group Ltd.'s Equity Buyback Plan

China Gerui Advanced Materials Group Ltd is a contract manufacturer of high precision cold-rolled narrow strip steel products. The Company converts steel manufactured by third parties into thin steel sheets and strips according to its customers’ specifications. It produces ultra-thin, high-strength cold-rolled steel products, with thicknesses starting from 0.05 mm width up to 600 mm and tolerance +/- 0.003mm. The Company sells its products to domestic Chinese customers who primarily operate in the food and industrial packaging, construction and household decorations materials, electrical appliances, and telecommunications wires and cables industries. The Company operates 11 sets of cold-rolled steel production lines with a current annual steel processing capacity of approximately 500,000 metric tons and two chromium-plating production lines with total annual processing capacity of approximately 250,000 metric tons. It has five series and over 20 types of strip steel products.