[EXPLANATORY NOTE - Part I, Item 1- Financial Statements; - Part I, Item 2- Management’s Discussion and Analysis of Financial Condition and Results of Operations; - Part I, Item 4- Controls and Procedures; and This Amendment No. 1 is being filed in order to restate: · Our consolidated balance sheets as of September 30, 2010 and December 31, 2009. Our] [Certification I, Zuosheng Yu, certify that: 1. I have reviewed this Amendment No. 1 to the Quarterly Report on Form 10-Q of General Steel Holdings, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the] [Certification I, John Chen, certify that: 1. I have reviewed this Amendment No. 1 to the Quarterly Report on Form 10-Q of General Steel Holdings, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the] [18 U.S.C. SECTION 1350, SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 Zuosheng Yu Chief Executive Officer August 29, 2012 John Chen Chief Financial Officer (Principal Financial Officer) August 29, 2012]

[EXPLANATORY NOTE - Part I, Item 1- Financial Statements; - Part I, Item 2- Management’s Discussion and Analysis of Financial Condition and Results of Operations; - Part I, Item 4- Controls and Procedures; and This Amendment No. 1 is being filed in order to restate: • Our consolidated balance sheets as of June 30, 2010 and December 31, 2009. As] [Certification I, Zuosheng Yu, certify that: 1. I have reviewed this Amendment No. 1 to the Quarterly Report on Form 10-Q of General Steel Holdings, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the] [Certification I, John Chen, certify that: 1. I have reviewed this Amendment No. 1 to the Quarterly Report on Form 10-Q of General Steel Holdings, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the] [18 U.S.C. SECTION 1350, SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 Zuosheng Yu Chief Executive Officer August 29, 2012 John Chen Chief Financial Officer (Principal Financial Officer) August 29, 2012]