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

Jul 26, 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 ANNOUNCEMENT

Reference is made to the Company’s announcement dated 17th February, 2006 and the Company’s circular dated 10th March, 2006. The Board would like to report that a conversion of part of the Convertible Note in the principal sum of HK$7,000,000 was made by the holder of the Convertible Note on 26th July, 2007, which resulted in the issue of 49,645,390 new Shares on 26th July, 2007, and the number of new Shares issued pursuant to the conversion of part of the Convertible Note accounted for 9.53% of the issued share capital of the Company as disclosed in the previous monthly announcement dated 6th July, 2007.

Reference is made to the announcement of Xin Corporation Limited (the “Company”) dated 17th February, 2006 and the circular of the Company dated 10th March, 2006 (the “Circular”). The Company made this announcement as per the requirements of paragraph (a) under the heading “Dilution Effect on Shareholders” of such announcement and 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 a conversion of part of the Convertible Note in the principal sum of HK$7,000,000 was made by the holder of the Convertible Note on 26th July, 2007 which resulted in the issue of 49,645,390 new Shares on 26th July, 2007, 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

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Change in the issued share capital of the Company is 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
pursuant to the partial conversion of
the Convertible Note at 26th July,
2007	496,453.90	49,645,390
As at 26th July, 2007	5,703,703.57	570,370,357

Following the issue of 49,645,390 new Shares on 26th July, 2007 with respect to the conversion of part of the Convertible Note, the number of new Shares issued pursuant to the conversion of part of the Convertible Note accounted for 9.53% of the issued share capital of the Company as disclosed in the previous monthly announcement dated 6th July, 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.

By Order of the Board Lo Ming Chi, Charles Chairman

Hong Kong, 26th July, 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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