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

Nov 7, 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 however arising from or in reliance upon the whole or any part of the contents of this announcement.

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XIN CORPORATION LIMITED 咒@明@懋@泣@議@咬@蕎@鎗@絵@棺@J@

(Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

COMPLETION OF PLACING OF

THE SECOND TRANCHE OF THE CONVERTIBLE NOTES AND

ISSUE OF THE SECOND TRANCHE OF THE NEW VISION CENTURY NOTES

The Company is pleased to announce that the placing of the second tranche of the Convertible Notes to ten Subscribers in the aggregate principal amount of HK$60,000,000 and the issue of the second tranche of the New Vision Century Notes to Vision Century in the principal amount of HK$60,000,000 were completed on 7th November, 2007.

Reference is made to the announcements of Xin Corporation Limited (the “Company”) dated 28th June, 2007, 17th September, 2007 and 5th October, 2007 and the circular of the Company dated 19th July, 2007 (the “Circular”). Capitalised terms used in this announcement shall have the same meanings as defined in the Circular unless otherwise defined.

The Company is pleased to announce that the placing of the second tranche of the Convertible Notes (the “2nd Tranche of the Convertible Notes”) to ten Subscribers in the aggregate principal amount of HK$60,000,000 and the issue of the second tranche of the New Vision Century Notes (the “2nd Tranche of the New Vision Century Notes”) to Vision Century in the principal amount of HK$60,000,000 were completed on 7th November, 2007. Following the issue of the 2nd Tranche of the Convertible Notes and the 2nd Tranche of the New Vision Century Notes, the aggregate principal amount of HK$100,000,000 of each of the Convertible Notes and the New Vision Century Notes are issued in full. The Placing Agent has placed the 2nd Tranche of the Convertible Notes to ten Subscribers, who and their ultimate beneficial owners are independent of the Company and its connected persons. Vision Century has also exercised the Call Option to subscribe for the 2nd Tranche of the New Vision Century Notes. Based on the information on the Subscribers available to the Company and assuming that all such Subscribers exercise the conversion rights attached to the 2nd Tranche of the Convertible Notes at the Initial Conversion Price and that there are no changes to the issued share capital of the Company up to the date of conversion, no Subscribers will become substantial shareholders of the Company upon full conversion of the 2nd Tranche of the Convertible Notes.

• 1 -

HAREHOLDING STRUCTURE OF THE COMPANY

Set out below is the shareholding structure of the Company (i) as at the date of this announcement; and (ii) assuming full conversion of the 2nd Tranche of the Convertible Notes and the 2nd Tranche of the New Vision Century Notes and no changes in the issued share capital of the Company from the date of this announcement up to the date of conversion.

Shareholders

As at the date of this announcement

Assuming full conversion of the 2nd Tranche of the Convertible Notes and the 2nd Tranche of the New Vision Century Notes and no changes in the issued share capital of the Company from the date of this announcement up to the date of conversion

Number ofSharesVision Century (Note 1)142,895,286Mr. Ng Wee Keat (Note 2)1,024,000Mr. Wilson Ng (Note 3)2,024,000Ms. Lilian Ng (Note 3)2,600,000Other Directors2,024,000Public Shareholders- Subscribers-- Other public Shareholders776,439,339Sub-total776,439,339Total927,006,625=========	%Number ofShares15.41357,181,0000.111,024,0000.222,024,0000.282,600,0000.222,024,000-214,285,71183.76776,439,33983.76990,725,050100.00=====1,355,578,050==========	%26.350.080.150.190.1515.8057.2873.08100.00=====

Notes:

1. Vision Century is a wholly-owned subsidiary of Huang Group which is held by Mr. Kan Ka Chong, Frederick in the capacity as the trustee of the Discretionary Trust.

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1. Mr. Ng Wee Keat is executive Director and discretionary beneficiary of the Discretionary Trust.

2. Mr. Wilson Ng and Ms. Lilian Ng are discretionary beneficiaries of the Discretionary Trust.

On behalf of the Board Lo Ming Chi, Charles

Chairman

Hong Kong, 7th November, 2007

As at the date of this announcement, the Board comprises Mr. Lo Ming Chi, Charles (Chairman), Mr. Yu Wai Man, Mr. Ng Wee Keat, Mr. Ng Eng Leng and Mr. Zhang Zhidong 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

• 3 -

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 however arising from or in reliance upon the whole or any part of the contents of this announcement.

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

(Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

COMPLETION OF PLACING OF

THE SECOND TRANCHE OF THE CONVERTIBLE NOTES AND

ISSUE OF THE SECOND TRANCHE OF THE NEW VISION CENTURY NOTES

The Company is pleased to announce that the placing of the second tranche of the Convertible Notes to ten Subscribers in the aggregate principal amount of HK$60,000,000 and the issue of the second tranche of the New Vision Century Notes to Vision Century in the principal amount of HK$60,000,000 were completed on 7th November, 2007.

Reference is made to the announcements of Xin Corporation Limited (the “Company”) dated 28th June, 2007, 17th September, 2007 and 5th October, 2007 and the circular of the Company dated 19th July, 2007 (the “Circular”). Capitalised terms used in this announcement shall have the same meanings as defined in the Circular unless otherwise defined.

The Company is pleased to announce that the placing of the second tranche of the Convertible Notes (the “2nd Tranche of the Convertible Notes”) to ten Subscribers in the aggregate principal amount of HK$60,000,000 and the issue of the second tranche of the New Vision Century Notes (the “2nd Tranche of the New Vision Century Notes”) to Vision Century in the principal amount of HK$60,000,000 were completed on 7th November, 2007. Following the issue of the 2nd Tranche of the Convertible Notes and the 2nd Tranche of the New Vision Century Notes, the aggregate principal amount of HK$100,000,000 of each of the Convertible Notes and the New Vision Century Notes are issued in full. The Placing Agent has placed the 2nd Tranche of the Convertible Notes to ten Subscribers, who and their ultimate beneficial owners are independent of the Company and its connected persons. Vision Century has also exercised the Call Option to subscribe for the 2nd Tranche of the New Vision Century Notes. Based on the information on the Subscribers available to the Company and assuming that all such Subscribers exercise the conversion rights attached to the 2nd Tranche of the Convertible Notes at the Initial Conversion Price and that there are no changes to the issued share capital of the Company up to the date of conversion, no Subscribers will become substantial shareholders of the Company upon full conversion of the 2nd Tranche of the Convertible Notes.

• 1 -

HAREHOLDING STRUCTURE OF THE COMPANY

Set out below is the shareholding structure of the Company (i) as at the date of this announcement; and (ii) assuming full conversion of the 2nd Tranche of the Convertible Notes and the 2nd Tranche of the New Vision Century Notes and no changes in the issued share capital of the Company from the date of this announcement up to the date of conversion.

Shareholders

As at the date of this announcement

Assuming full conversion of the 2nd Tranche of the Convertible Notes and the 2nd Tranche of the New Vision Century Notes and no changes in the issued share capital of the Company from the date of this announcement up to the date of conversion

Number ofSharesVision Century (Note 1)142,895,286Mr. Ng Wee Keat (Note 2)1,024,000Mr. Wilson Ng (Note 3)2,024,000Ms. Lilian Ng (Note 3)2,600,000Other Directors2,024,000Public Shareholders- Subscribers-- Other public Shareholders776,439,339Sub-total776,439,339Total927,006,625=========	%Number ofShares15.41357,181,0000.111,024,0000.222,024,0000.282,600,0000.222,024,000-214,285,71183.76776,439,33983.76990,725,050100.00=====1,355,578,050==========	%26.350.080.150.190.1515.8057.2873.08100.00=====

Notes:

1. Vision Century is a wholly-owned subsidiary of Huang Group which is held by Mr. Kan Ka Chong, Frederick in the capacity as the trustee of the Discretionary Trust.

• 2 -

1. Mr. Ng Wee Keat is executive Director and discretionary beneficiary of the Discretionary Trust.

2. Mr. Wilson Ng and Ms. Lilian Ng are discretionary beneficiaries of the Discretionary Trust.

On behalf of the Board Lo Ming Chi, Charles

Chairman

Hong Kong, 7th November, 2007

As at the date of this announcement, the Board comprises Mr. Lo Ming Chi, Charles (Chairman), Mr. Yu Wai Man, Mr. Ng Wee Keat, Mr. Ng Eng Leng and Mr. Zhang Zhidong 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

• 3 -