G-Resources Group Limited — Capital/Financing Update 2008

May 21, 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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(Incorporated in Bermuda with limited liability) ( Stock Code: 1051 )

SUPPLEMENTAL AGREEMENT RELATING TO THE DISPOSAL OF INTERESTS IN MPIL

On 20 May 2008, the Company and Vendors entered into the Supplemental Agreement with the Purchaser to supplement and amend certain provisions of the Agreement.

Reference is made to the announcement of the Company dated 22 April 2008 (the “ Announcement ”) in relation to the disposal of 360 ordinary shares of US$1.00 each in the share capital of MPIL, representing 36% of the equity interest in MPIL. Unless otherwise stated, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

On 20 May 2008, the Company and the Vendors entered into a supplemental agreement (the “Supplemental Agreement”) with the Purchaser to supplement and amend certain provisions of the Agreement to the effect that the refundable deposit of HK$100 million to be paid by the Purchaser will be reduced to HK$50 million and the total consideration for the Sale of HK$810 million shall be settled by the Purchaser in the following manner:

• (i) as to HK$50 million shall be paid in cash as a refundable deposit within 30 days after the publication of the announcement of SUNPEC regarding the Sale and as part payment of the consideration on Completion;

• (ii) as to HK$50 million shall be paid in cash on Completion; and

• (iii) as to the remaining balance of HK$710 million shall be satisfied by the issue and allotment of 253,571,428 Consideration Shares by SUNPEC at HK$2.80 per Consideration Share to the Company or its nominee(s) on Completion.

Save as supplemented and amended by the Supplemental Agreement, the terms of the Agreement shall remain unchanged and effective.

By Order of the Board Smart Rich Energy Finance (Holdings) Limited Tam Wai Keung, Billy Vice President

Hong Kong, 20 May 2008

As at the date of this announcement, the Board comprises Mr. Wong Kam Fu, Dr. Lew Mon Hung, Mr. Tam Wai Keung, Billy, Mr. Wah Wang Kei, Jackie, Mr. Wong Hong Loong and Mr. Sin Chi Keung, Mega as executive Directors and Mr. Wong Che Man, Eddy, Mr. Tang King Fai and Mr. Dai Zhongcheng as independent non-executive Directors.

* For identification purpose only