Subsidiaries

General Steel (China)  Co., Ltd.

Formerly known as, Tianjin Daqiuzhuang Metal Sheet Co., Ltd
Name: General Steel (China)
Location: Daqiuzhuang Town, Tianjin Municipality
Products: Hot-rolled carbon and silicon steel sheets
Annual Production Capacity: 400,000 metric tons
Principal Markets: Tianjin Municipality
Ownership Status: Wholly-owned
Note:  In January 2010, we leased the operations of this facility to Tianjin Daqiuzhuang Steel Plates Co., Ltd. until December 31, 2011. Presently, we receive monthly lease payments of approximately $246,000 (RMB1.68 million) from the lessee for the use of these facilities.