SHANGHAI, June 8 /PRNewswire-Asia/ -- China Precision Steel, Inc. (Nasdaq: CPSL) ('China Precision Steel' or the 'Company'), a niche precision steel processing company principally engaged in producing and selling high precision cold-rolled steel products, today announced that the date of its Annual Meeting of Shareholders will be Tuesday, June 16th, 2009. The meeting will take place at the Company's headquarters, 87 Wing Lok Street, Sheung Wan, Hong Kong and commence at 9:00 am Hong Kong time / Monday, June 15th 9:00 pm EDT. All shareholders of record as of April 17, 2009 will be eligible to vote at the meeting.

    The matters to be considered at the Annual Meeting are as follows:
    1. To elect six persons to the Board of Directors of the Company, each to
       serve until the next annual meeting of shareholders of the Company or
       until such person shall resign, be removed or otherwise leave office;
    2. To ratify the selection by the Audit Committee of Moore Stephens as the
       Company's independent registered public accounting firm for the fiscal
       year ending June 30, 2009; and
    3. To transact such other business as may properly come before the Meeting
       or any adjournment thereof.

Details on the matters to be considered will be provided in the Company's proxy statement for the annual meeting. A copy of the proxy materials for the Annual Meeting may be obtained by accessing the Company's website at http://chinaprecisionsteelinc.com .

To participate in the meeting, please dial the following number fifteen minutes prior to the scheduled meeting time: 888-339-2688, international callers should dial 617-847-3007; conference passcode is 725 258 01.

About China Precision Steel, Inc.

China Precision Steel, Inc. is a niche precision steel processing company principally engaged in the production and sale of high precision cold-rolled steel products and provides value added services such as heat treatment and cutting medium and high carbon hot-rolled steel strips. China Precision Steel's high precision, ultra-thin, high strength (7.5 mm to 0.05 mm) cold-rolled steel products are mainly used in the production of automotive components, food packaging materials, saw blades and textile needles. The Company primarily sells to manufacturers in the People's Republic of China and is expanding into overseas markets such as Nigeria, Thailand, Indonesia and the Philippines. China Precision Steel was incorporated in 2002 and is headquartered in Sheung Wan, Hong Kong. Additional information can be found at the Company's website http://chinaprecisionsteelinc.com .

    Fore more information, please contact:
     China Precision Steel
     Dan Carlson,
     Email: DanielCarlson@comcast.net
     Elite IR
     Leslie J. Richardson, Partner
     Tel:   +852-3183-0283
     Email: Leslie.richardson@elite-ir.com

SOURCE China Precision Steel, Inc.