PegBio Co., Ltd. — Board/Management Information 2003

Apr 1, 2003

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(Incorporated in Bermuda with limited liability)

CHANGE OF DIRECTORS

The board of directors (the “Board”) of XIN CORPORATION LIMITED (the “Company”) announce that with effect from 1st April, 2003 for the following changes:

• (a) Ms. SIO Ion Kuan resigned as executive director of the Company;

• (b) Mr. NG Eng Leng, Mr. NG Teow Leng and Mr. NG Wee Keat were appointed as executive directors of the Company; and

• (c) Mr. LAU Pok Lam was appointed as independent non-executive director of the Company.

The Board would like to take this opportunity to welcome Mr. NG Eng Leng, Mr. NG Teow Leng, Mr. NG Wee Keat and Mr. LAU Pok Lam to join the Company and to express its gratitude to Ms. SIO for her valuable contribution to the Company during her tenure of service in the past year. The Board would like to wish her every success in her future business development.

By the order of the Board YU Wai Man Company Secretary

Hong Kong dated 1st April, 2003

• For identification purpose only

Please also refer to the published version of this announcement in The Standard.