PegBio Co., Ltd. — Regulatory Filings 2004

Oct 5, 2004

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss however arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

ANNOUNCEMENT

The board of directors (the “Board”) of Xin Corporation Limited (the “Company”) has noted the recent press articles concerning the possible development of a logistics centre at its PRC factory land and wishes to state that the Company is currently engaged in preliminary discussions with independent third parties, concerning the feasibility of developing a logistics centre by making use of the bare land at the factory. However, no definitive plans or agreements and investment amount have been concluded in this respect.

Shareholders and potential investors of the Company are advised to exercise cautions when dealing in the shares of the Company.

The Board has noted the recent press articles concerning the possible development of a logistics centre at its PRC factory land and wishes to state that the Company is currently engaged in preliminary discussions with independent third parties, concerning the feasibility of developing a logistics centre by making use of the bare land at the factory. However, terms, timing and investment amount of the development have not been finalized and no definitive plans or agreements have yet been entered into by the Company in this respect. Shareholders and potential investors of the Company should note that the proposal relating to the development is at an early stage and may or may not proceed.

Shareholders and potential investors of the Company are advised to exercise cautions when dealing in the shares of the Company.

The Board also confirms that save as disclosed above, there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under Rule 13.23 of the Listing Rules, neither is the Board aware of any matter discloseable under the general obligations imposed by Rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature.

Made by the order of the Board, the directors of which individually and jointly accept responsibility for the accuracy of this announcement.

On behalf of the Board Lo Ming Chi, Charles Chairman

Hong Kong, 5th October, 2004

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

• For identification only

Please also refer to the published version of this announcement in The Standard.

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