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HISTORY

                                   Hamgaman Sistan and Baluchestan Development Holding, one of the
                                   largest private economic groups in southeastern Iran with over 8,000 local
                                   shareholders, began its activities by establishing Zabol Cement Industries
                                   Company and constructing the one-million-ton Sistan Cement Plant. The
                                   holding later expanded its operations by creating various companies within
                                   the cement industry supply chain. Currently, With its involvement in the
                                   development of the largest steel complex in southeastern Iran, construction
                                   of a 1.6-million-ton HBI per annum sponge iron unit in Chabahar, Hamgaman
                                   is now recognized as the first active local holding in the province engaged in
                                   large scale industrial projects.

HOLDING HAMGAMAN DEVELOPMENT OF SISTAN AND BALUCHESTAN
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