CERTIFICATION PURSUANT TO 18 U.S.C. SECTION
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002
The undersigned, Hai Sheng
Chen, the Chief Executive Officer of CHINA PRECISION STEEL, INC. (the “Company”), DOES HEREBY CERTIFY that:
Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2011 (the “Report”), fully complies
with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and
contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.
IN WITNESS WHEREOF, the undersigned has executed
this statement this 20th day of February 2012.
||/s/ Hai Sheng Chen
||Hai Sheng Chen
||Chief Executive Officer
||(Principal Executive Officer)
A signed original of this
written statement required by Section 906 has been provided to China Precision Steel, Inc. and will be retained by China Precision
Steel, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.
The forgoing certification
is being furnished to the Securities and Exchange Commission pursuant to §18 U.S.C. Section 1350. It is not being
filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference
into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language
in such filing.