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

Apr 11, 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, 2nd March, 2007 and 6th March, 2007 and the Company’s circular dated 10th March, 2006. The Board would like to report that during the month of March 2007, two conversions in an aggregate principal sum of HK$20,000,000 of the Convertible Note were made by the holder of the Convertible Note, which resulted in a total number of 141,843,970 new Shares being issued by the Company.

Reference is made to the announcements of Xin Corporation Limited (the “Company”) dated 17th February, 2006, 2nd March, 2007 and 6th March, 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 March 2007, two conversions in an aggregate principal sum of HK$20,000,000 of the Convertible Note were made by the holder of the Convertible Note, which resulted in a total number of 141,843,970 new Shares being issued by the Company, 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$
1st March, 2007	70,921,985	0.141	10,000,000	27,000,000
5th March, 2007	70,921,985	0.141	10,000,000	17,000,000
	141,843,970		20,000,000

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

IssuedAs at 28th February, 2007Total number of new Shares issuedpursuanttotheconversionsduring the month Total number of Shares issuedpursuant to other transactionduring the monthAs at 31st March, 2007	share capitalNumber of issued SharesHK$3,308,160.56330,816,0561,418,439.70 141,843,97020,480.002,048,000*4,747,080.26474,708,026

• These shares were issued upon exercise of share options granted by the Company on 29th July, 2005.

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, 10th April, 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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