CWT International Limited — M&A Activity 2008

Jan 28, 2008

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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SINOFERT HOLDINGS LIMITED 中化化肥控股有限公司[*]

(Incorporated in Bermuda with limited liability)

(Stock Code: 297)

FRAMEWORK INTENTION AGREEMENT

The Board is pleased to announce that on 26 January 2008, Sinochem Fertilizer, in conjunction with Hualu Hengsheng, entered into the Framework Intention Agreement with independent third parties to, among other things, acquire an equity interest in the Shandong Company.

This announcement is made by the Company on a voluntary basis.

The board of directors ( Board ) of Sinofert Holdings Limited ( Company ) is pleased to announce that on 26 January 2008, Sinochem Fertilizer Company Limited (中化化肥有限公司) ( Sinochem Fertilizer ), an indirect wholly-owned subsidiary of the Company, in conjunction with Shandong Hualu Hengsheng Chemicals Co., Ltd. (山東華魯恒升化工股份有限公司) ( Hualu Hengsheng ) entered into a framework intention agreement ( Framework Intention Agreement ) with independent third parties of the Company setting out the intentions of the respective parties for Sinochem Fertilizer and Hualu Hengsheng to, among other things, together acquire 75% of the equity interest in Shandong Deqilong Chemicals Group Co., Ltd. (山東德齊龍化工集團有限責任公司) ( Shandong Company ), a chemicals production company located in Shandong province, People’s Republic of China ( PRC ). Particulars of the acquisition, including the proportion of the equity interest in the Shandong Company to be acquired by Sinochem Fertilizer and the consideration to be paid in respect of such equity interest, will be determined by the relevant parties upon completion of due diligence and audit exercises by Sinochem Fertilizer and Hualu Hengsheng.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

The Company will comply with any requirements under The Rules Governing the Listing of Securities on the Hong Kong Stock Exchange if and when necessary.

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This announcement is made by the Company on a voluntary basis.

By order of the Board of Sinofert Holdings Limited Du Ke Ping Chief Executive Officer

Hong Kong, 28 January 2008

As at the date of this announcement, the executive directors of the Company are Mr. Du Ke Ping (Chief Executive Officer) and Mr. Harry Yang; the non-executive Directors are Mr. Liu De Shu (Chairman), Mr. Song Yu Qing (Deputy Chairman), Mr. Chen Guo Gang, Mr. Stephen Francis Dowdle and Mr. Wade Fetzer III; and the independent non-executive Directors are Mr. Tse Hau Yin, Aloysius, Mr. Ko Ming Tung, Edward, and Mr. Tang Tin Sek.

• For identification purpose only

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