PegBio Co., Ltd. — Capital/Financing Update 2007

Dec 6, 2007

==> picture [42 x 40] intentionally omitted <==

XIN CORPORATION LIMITED **新 創 綜 合 企 業 有 限 公 司 ***

(Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

MONTHLY ANNOUNCEMENT ON

THE SECOND TRANCHE OF THE CONVERTIBLE NOTES

AND

THE SECOND TRANCHE OF THE NEW VISION CENTURY NOTES

The Company made this announcement pursuant to paragraph (i) under the heading “Dilution effect on Shareholders” of the Circular.

Reference is made to the announcements of Xin Corporation Limited (the “Company”) dated 28th June, 2007, 7th November, 2007 and 20th November, 2007 and the circular of the Company dated 19th July, 2007 (the “Circular”). The Company made this announcement pursuant to paragraph (i) under the heading “Dilution effect on Shareholders” of the Circular. Capitalised terms used in this announcement shall have the same meanings as defined in the Circular unless otherwise defined.

(a) 2nd Tranche of the Convertible Notes

The Company would like to report that the second tranche of the Convertible Notes (the “2nd Tranche of the Convertible Notes”) in the aggregate principal amount of HK$60,000,000 were issued on 7th November, 2007. The Company received two conversion notices on 8th November, 2007 for conversions of the 2nd Tranche of the Convertible Notes in the aggregate principal amount of HK$10,000,000, which resulted in the issue of 35,714,285 new Shares by the Company, details of which are set out as follows:

			Aggregate	Outstanding
			principal	principal
			amount of the	amount
			2nd Tranche	of the 2nd
			of the	Tranche of
	No. of new		Convertible	the
Conversion	Shares	Conversion	Notes	Convertible
date	issued	price	converted	Notes
		(HK$)	(HK$)	(HK$)
8th November,	35,714,285	0.28	10,000,000	50,000,000
2007

• 1 -

(b) 2nd Tranche of the New Vision Century Notes

The Company would also like to report that the second tranche of the New Vision Century Notes (the “2nd Tranche of the New Vision Century Notes”) in the principal amount of HK$60,000,000 was issued on 7th November, 2007 and Vision Century Group Limited has disposed of the 2nd Tranche of the New Vision Century Notes in the principal amount of HK$60,000,000 to Global Wealthy Limited on 20th November, 2007.

During the period from 7th November, 2007 to 30th November, 2007, no conversion of the 2nd Tranche of the New Vision Century Notes was made by its holder.

Change in the issued share capital of the Company for the month of November 2007 was as follows:

Issued share capital Number of issued Shares HK$ As at 1st November, 2007 9,270,066.25 927,006,625 Total number of new Shares issued pursuant to the conversions of the 2nd Tranche of the Convertible Notes in the aggregate principal amount of HK$10,000,000 during the month 357,142.85 35,714,285 As at 30th November, 2007 9,627,209.10 962,720,910

This announcement is only released through the web-site of The Stock Exchange of Hong Kong Limited and no publication in the newspaper is made.

On behalf of the Board Lo Ming Chi, Charles Deputy Chairman and Chief Executive Officer

Hong Kong, 6th December, 2007

As at the date of this announcement, the Board comprises Mr. Suen Cho Hung, Paul (Chairman), Mr. Lo Ming Chi, Charles (Deputy Chairman and Chief Executive Officer), Mr. Yu Wai Man, Mr. Zhang Zhidong and Mr. Sue Ka Lok as executive Directors and Mr. Wong Kwok Tai, Mr. Weng Yixiang, Mr. Lu Xinsheng and Mr. Xiong Wei as independent non-executive Directors.

• For identification only

• 2 -