CHINA STATE CONSTRUCTION DEVELOPMENT HOLDINGS LIMITED — AGM Information 2003

May 30, 2003

UNIVERSAL HOLDINGS LIMITED 友利控股有限公司

(Incorporated in the Cayman Islands with limited liability)

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at Unit 4306-07, Far East Finance Centre, 16 Harcourt Road, Admiralty, Hong Kong on 26 June 2003 at 9:30 a.m. for the following purpose:

1. To receive and consider the Audited Financial Statements and the Reports of the Directors and of the Auditors for the year ended 31 December 2002.

2. To re-elect the following persons as directors of the Company:

   • (i) Mr. Cheong Chow Yin;

   • (ii) Mr. Wilton Timothy Carr Ingram; and

   • (iii) Dr. Wong Yau Kar, David.

3. To authorise the Board of Directors to fix the remuneration of the Director.

4. To appoint Messrs. PricewaterhouseCoopers as auditors to hold office until the conclusion of the next annual general meeting at a fee to be fixed by the auditors.

5. As special business, to consider, if thought fit, passing the resolutions to approve the general mandate to issue Shares or to repurchase Shares of the Company.

By Order of the Board Jason Chan Company Secretary

Hong Kong, 2 June 2003.

Notes:—

1. Any member of the Company entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and vote instead of him. A proxy need not be a member of the Company.

2. To be valid, the proxy form, together with any power of attorney or other authority (if any) under which it is signed or notarially certified copy of such power or authority must be deposited with the Company’s Registrars, Tengis Limited, at G/F, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong not less than 48 hours before the time appointed for holding the meeting or any adjournment thereof.

3. A proxy form together with a circular of the Company dated this date has been sent to each member of the Company in a separate post.

Please also refer to the published version of this announcement in the China Daily.