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

May 4, 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 announcement dated 17th February, 2006 and the Company’s circular dated 10th March, 2006. The Board would like to report that no conversion of the Convertible Note was made by its holder during the period from 1st April, 2007 to 30th April, 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 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 no conversion of the Convertible Note was made by its holder during the period from 1st April, 2007 to 30th April, 2007.

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

IssuedAs at 1st April, 2007Total number of Shares issuedpursuant to other transactionsduring the monthAs at 30th April, 2007	share capitalNumber of issued SharesHK$4,747,080.26474,708,026449,929.4144,992,941*5,197,009.67519,700,967

• 41,920,941 Shares were issued upon conversion of a new convertible note due 2010 in the principal amount of HK$7,126,560 at the conversion price of HK$0.17 per Share and the remaining 3,072,000 Shares were issued upon the exercise of share options granted by the Company on 29 July 2005.

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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, 4th May, 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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