PegBio Co., Ltd. — Declaration of Voting Results & Voting Rights Announcements 2007

Feb 15, 2007

==> picture [5 x 4] intentionally omitted <==

----- Start of picture text ----- *----- End of picture text -----

(Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

RESULTS OF THE SPECIAL GENERAL MEETING

In the Special General Meeting held today, the Resolution approving the Acquisition (including the issue of the New Convertible Note and the Conversion Shares) was duly passed by way of poll at the Special General Meeting held today.

Reference is made to the announcement of Xin Corporation Limited (the “Company”) dated 24 November 2006 and the circular of the Company dated 29 January 2007 (the “Circular”) in relation to the proposed Acquisition. Capitalised terms used herein have the same meanings as defined in the Circular unless otherwise stated.

RESULTS OF THE SPECIAL GENERAL MEETING

The Board is pleased to announce that the ordinary resolution (the “Resolution”) approving the Acquisition (including the issue of the New Convertible Note and the Conversion Shares) was duly passed at the Special General Meeting held today.

As at the date of the Special General Meeting, there was a total of 330,816,056 Shares in issue. As stated in the Circular, Vision Century, Mr. Wilson Ng, Mr. Ng Wee Keat, Ms. Sio Ion Kuan, Ms. Ng Siew Lang, Linda, Ms. Lilian Ng and their respective associates, which in aggregate hold 210,548,784 Shares (representing approximately 63.6% of the total issued Shares) as at the date of the Special General Meeting, were required to, and did, abstain from voting on the Resolution at the Special General Meeting. Accordingly, the total number of Shares entitling the Independent Shareholders to attend and vote for or against the Resolution was 120,267,272 Shares (representing approximately 36.4% of the total issued Shares as at the date of the Special General Meeting). No Shareholder was required to attend and vote only against the Resolution.

Set out below is the result of the voting taken on a poll at the Special General Meeting:

Meeting:
	Number of Shares(Approximate %)
	ForAgainst
Ordinary resolution	18,581,500Nil(100%)(Nil)

Accordingly, the Resolution was duly passed by way of poll at the Special General Meeting. Tengis Limited, the Hong Kong branch share registrar of the Company, acted as the scrutineer for the vote-taking at the Special General Meeting.

By order of the Board Lo Ming Chi, Charles Chairman

Hong Kong, 15 February 2007

1

At the date of this announcement, the board of directors of the Company 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

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

2