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

Aug 6, 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)

HK$37,000,000 1 PER CENT CONVERTIBLE NOTE DUE 2009 MONTHLY ANNOUNCEMENT

Reference is made to the Company’s announcements dated 17th February, 2006, 26th July, 2007 and 30th July, 2007 and the Company’s circular dated 10th March, 2006. The Board would like to report that during the month of July 2007, two conversions in an aggregate principal sum of HK$17,000,000 of the Convertible Note were made by four holders of the Convertible Note, which resulted in the issue by the Company of 120,567,375 new Shares.

Reference is made to the announcements of Xin Corporation Limited (the “Company”) dated 17th February, 2006, 26th July, 2007 and 30th July, 2007 and the circular of the Company dated 10th March, 2006 (the “Circular”). The Company made this announcement pursuant to the requirements of paragraph (a) 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 Board would like to report that during the month of July 2007, two conversions in an aggregate principal sum of HK$17,000,000 of the Convertible Note were made by four holders of the Convertible Note, which resulted in the issue by the Company of 120,567,375 new Shares, details of which are set out as follows:

			Principal
	No. of new		amount of the	Outstanding
	Shares	Conversion	Convertible	principal sum of the
Conversion date	issued	price	Note converted	Convertible Note
		HK$	HK$	HK$
26th July, 2007	49,645,390	0.141	7,000,000	10,000,000
30th July, 2007	70,921,985	0.141	10,000,000	Nil
	120,567,375		17,000,000

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Changes in the issued share capital of the Company for the month of July 2007 were as follows:

		Issued share capital	Number of issued Shares
		HK$
As at 1st July, 2007		5,207,249.67	520,724,967
Total number of new	Shares issued
pursuanttothe	conversions
during the month		1,205,673.75	120,567,375
As at 31st July, 2007		6,412,923.42	641,292,342

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.

By Order of the Board Lo Ming Chi, Charles Chairman

Hong Kong, 6th August, 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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