CITIC Limited — Capital/Financing Update 2007

Apr 2, 2007

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Incorporated in Hong Kong with limited liability)

(Stock Code: 267)

SEPARATE LISTING OF CITIC 1616 HOLDINGS LIMITED ON THE MAIN BOARD OF THE STOCK EXCHANGE OF HONG KONG LIMITED

DETERMINATION OF OFFER PRICE

CITIC Pacific wishes to announce that the underwriting agreement in relation to the International Placing and the price determination agreement in relation to the Offer Price were entered into by CITIC Pacific (acting through its wholly-owned subsidiary Ease Action Investments Corp.), CITIC 1616 and the Global Coordinator (on behalf of the underwriters) on 28 March 2007. The Offer Price is determined at HK$2.58 (excluding brokerage fee, SFC transaction levy and the Stock Exchange trading fee), being the maximum Offer Price as stated in the Prospectus.

Shareholders and potential investors should note that the Proposed Spin-off and the Global Offering, which are subject to a number of conditions, may or may not proceed. In particular, there is no assurance that approval from the Stock Exchange will be granted or that the underwriters’ obligations under the underwriting agreements will become unconditional or that the underwriting agreements will not be terminated. Accordingly, Shareholders and potential investors are urged to exercise extreme caution when dealing in the securities of CITIC Pacific.

This announcement is made further to the announcements of CITIC Pacific made on 10 January 2007, 22 January 2007, 9 March 2007 and 21 March 2007 about the Proposed Spin-off. Unless otherwise defined in this announcement, capitalised terms used in this announcement shall have the same meanings as given to them in the announcement dated 21 March 2007.

CITIC Pacific wishes to announce that the underwriting agreement in relation to the International Placing and the price determination agreement in relation to the Offer Price were entered into by, inter alia , CITIC Pacific (acting through its wholly-owned subsidiary Ease Action Investments Corp.), CITIC 1616 and the Global Coordinator (on behalf of the underwriters) on 28 March 2007. The Offer Price is determined at HK$2.58 (excluding brokerage fee, SFC transaction levy and the Stock Exchange trading fee), being the maximum Offer Price as stated in the Prospectus.

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Shareholders and potential investors should note that the Proposed Spin-off and the Global Offering, which are subject to a number of conditions, may or may not proceed. In particular, there is no assurance that approval from the Stock Exchange will be granted or that the underwriters’ obligations under the underwriting agreements will become unconditional or that the underwriting agreements will not be terminated. Accordingly, Shareholders and potential investors are urged to exercise extreme caution when dealing in the securities of CITIC Pacific.

By Order of the Board CITIC Pacific Limited Alice Tso Mun Wai Company Secretary

Hong Kong, 30 March 2007

As at the date of this announcement, the executive directors of the Company are Messrs Larry Yung Chi Kin (Chairman), Henry Fan Hung Ling, Peter Lee Chung Hing, Carl Yung Ming Jie, Leslie Chang Li Hsien, Vernon Francis Moore, Li Shilin, Liu Jifu, Chau Chi Yin, Milton Law Ming To and Wang Ande; the non-executive directors of the Company are Messrs Willie Chang, André Desmarais, Chang Zhenming and Peter Kruyt (alternate director to Mr. André Desmarais); and the independent non-executive directors of the Company are Messrs Hamilton Ho Hau Hay, Alexander Reid Hamilton, Hansen Loh Chung Hon and Norman Ho Hau Chong.

“Please also refer to the published version of this announcement in South China Morning Post and Hong Kong Economic Times.”

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