NORTH ASIA STRATEGIC HOLDINGS LIMITED

北亞策略控股有限公司
(Incorporated in Bermuda with limited liability)
(Stock Code: 8080)

MONTHLY ANNOUNCEMENT
RELATING TO OUTSTANDING CONVERTIBLE BONDS
AND PREFERENCE SHARES

The Board announces that none of the HK$20 million Convertible Bonds issued by the
Company on 8th August 2005 to the Ajia Parties, and none of the Preference Shares have
been converted during the period from 1st to 31st December 2007, and 5,197,240,038 new
Preference Shares were issued by the Company during the same period.

References are made to the circular dated 20th June 2005 (the “2005 Circular”) issued by
North Asia Strategic Holdings Limited (formerly known as iSteelAsia Holdings Limited)
(the “Company”), North Asia Strategic Acquisition Corp. and Mr. Moses Kwok Tai Tsang,
and the announcements of the Company dated 14th July 2005 and 8th August 2005. On 8th
August 2005, the Proposals (as defined in the 2005 Circular) were completed, pursuant to
which 63,856,960 Ordinary Shares and the Convertible Bonds with principal value of
HK$20 million were issued to the Ajia Parties.

References are also made to the First Round Placement and the Second Round Placement
of the Preference Shares completed by the Company in February, March and September
2006 and December 2007 (details of which are set out in the Company’s circulars dated
24th January 2006 and 17th August 2006 (together, the “First Round Placement
Circulars”) and 23rd November 2007 (the “Second Round Placement Circular”)). Upon
completion of the First Round Placement and the Second Round Placement of the
Preference Shares, the total number of Preference Shares issued by the Company under the
First Round Placement and the Second Round Placement was 8,176,014,813 and
5,197,240,038 respectively, totaling 13,373,254,851.

Capitalised terms used herein have the same meanings as defined in the 2005 Circular, the
First Round Placement Circulars and the Second Round Placement Circular unless
specified otherwise.

This monthly announcement is made to update the Shareholders and the public investors
on details of conversion of the Convertible Bonds and the Preference Shares, if any.

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The Board announces that:

(i) none of the Convertible Bonds and the Preference Shares have been converted
during the period from 1st to 31st December 2007;

(ii) as at 31st December 2007 the Convertible Bonds outstanding remained to be
HK$20 million while the total number of Preference Shares outstanding was
13,373,254,851;

(iii) save for the issue of 5,197,240,038 Preference Shares upon completion of the Second
Round Placement in December as described above, there have been no ordinary Shares or
other securities of the Company issued pursuant to other transactions during the same
period, including Ordinary Shares issued pursuant to the exercise of options under any
share option scheme(s) of the Company; and

(iv) the total issued share capital of the Company as at 1st December 2007 comprised
95,794,716 ordinary Shares and 8,176,014,813 Preference Shares; while the total
issued share capital of the Company as at 31st December 2007 comprised
95,794,716 Ordinary Shares and 13,373,254,851 Preference Shares.

By Order of the Board
North Asia Strategic Holdings Limited
Savio Chow Sing Nam
Executive Director and Chief Executive Officer

Hong Kong, 3rd January 2008

As at the date of this announcement, the Board comprises Mr. Gran Sture Malm (Chairman), Mr. Henry
Cho Kim (Deputy Chairman), Mr. Savio Chow Sing Nam (Chief Executive Officer) and Mr. Andrew Yao
Cho Fai (being the executive Directors), Mr. Takeshi Kadota (being the non-executive Director), Mr.
Philip Ma King Huen, Mr. Kenny Tam King Ching, Mr. Edgar Kwan Chi Ping and Mr. Yu Wang Tak
(being the independent non-executive Directors).

This announcement, for which the Directors of the Company collectively and individually accept full
responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities
on the Growth Enterprise Market (“GEM”) of the Stock Exchange for the purpose of giving information
with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best
of their knowledge and belief: (1) the information contained in this announcement is accurate and complete
in all material respects and not misleading; (2) there are no other matters the omission of which would
make any statement in this announcement misleading; and (3) all opinions expressed in this announcement
have been arrived at after due and careful consideration and are founded on bases and assumptions that
are fair and reasonable.

This announcement will remain on the “Latest Company Announcements” page of the GEM website at
www.hkgem.com for at least seven days from the date of its posting and on the Company’s website at
www.nasholdings.com.


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