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

Oct 5, 2007

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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)

MONTHLY ANNOUNCEMENT ON CONVERSIONS OF THE FIRST TRANCHE OF THE CONVERTIBLE NOTES

AND

THE FIRST 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, 17th September, 2007 and 19th September, 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.

The Company would like to report that the first tranche of the Convertible Notes (the “1st Tranche of the Convertible Notes”) in the aggregate principal amount of HK$40,000,000 and the first tranche of the New Vision Century Notes (the “1st Tranche of the New Vision Century Notes”) in the principal amount of HK$40,000,000 were issued on 17th September, 2007. The Company received six conversion notices for the conversion of the 1st Tranche of the Convertible Notes and a conversion notice for the conversion of the 1st Tranche of the New Vision Century Notes on 18th September, 2007, which resulted in the issue of 285,714,283 new Shares by the Company, details of which are set out as follows:

(a) 1st Tranche of the Convertible Notes

			Aggregate	Outstanding
			principal	principal
			amount of the	amount
			1st Tranche	of the 1st
			of the	Tranche of
	No. of new		Convertible	the
Conversion	Shares	Conversion	Notes	Convertible
date	issued	price	converted	Notes
		(HK$)	(HK$)	(HK$)
18th September,	142,857,141	0.28	40,000,000	Nil
2007

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(b) 1st Tranche of the New Vision Century Notes

	Principalamount of the1st TrancheOutstandingprincipal	Principalamount of the1st TrancheOutstandingprincipal	Principalamount of the1st TrancheOutstandingprincipal	Principalamount of the1st TrancheOutstandingprincipal
	ConversionNo. of newSharesConver	of the NewVisionCenturyamountof the 1stTranche of
		sion Notes	New Vision
	dateissuedp(H18th September,142,857,142	riceconvertedK$)(HK$)0.2840,000,000	Century Notes(HK$)Nil
2007	2007

Change in the issued share capital of the Company for the month of September 2007 were as follows:

Issued share capital Number of issued Shares HK$ As at 1st September, 2007 6,412,923.42 641,292,342 Total number of new Shares issued pursuant to conversion of the 1st Tranche of the Convertible Notes during the month 1,428,571.41 142,857,141 Total number of new Shares issued pursuant to conversion of the 1st Tranche of the New Vision Century Notes during the month 1,428,571.42 142,857,142 As at 30th September, 2007 9,270,066.25 927,006,625

As at 1st September, 2007

As at 30th September, 2007

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 Chairman

Hong Kong, 5th October, 2007

As at the date of this announcement, the Board comprises Mr. Lo Ming Chi, Charles (Chairman), Mr. Yu Wai Man, Mr. Wilson Ng, Mr. Ng Wee Keat and Mr. Ng Eng Leng as executive Directors and Mr. Wong Kwok Tai, Mr. Lau Pok Lam and Mr. Ko Kwong Woon, Ivan as independent non-executive Directors.

• For identification only

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