Rego Interactive Co., Ltd — Capital/Financing Update 2003

Dec 24, 2003

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 howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(a joint stock limited company incorporated in the People’s Republic of China with limited liability)

Announcement Establishment of a Sponsored Level I American Depositary Receipts Program

The Company announced that, on 23rd December, 2003, it has established a Sponsored Level I ADR Program with The Bank of New York. Securities and Exchange Commission of the United States declared that the registration statement for the ADR Program has become effective on 23rd December, 2003 (New York time). Each ADR under the ADR Program shall represent 20 ordinary H Shares of the Company listed on the HKSE. Trading of the Company’s ADR will only be made in the over-the-counters market in the United States. The Company did not and will not issue any new shares under such ADR Program.

This announcement is a reproduction of an announcement released in the People’s Republic of China (“PRC”) by Tianjin Capital Environmental Protection Company Limited (the “Company”) on today. It is issued by the Company pursuant to paragraph 2 of the Listing Agreement for information purpose only.

The Company and the board of directors confirmed the truthfulness, accuracy and completeness of this announcement, and accept joint and several responsibilities for any false information, misleading statements or martial omission.

Tianjin Capital Environmental Protection Company Limited (the “Company”) announced that, on 23rd December, 2003 (New York time), it has established a Sponsored Level I American Depositary Receipts (the “ADR”) Program (collectively known as the “ADR Program”) with The Bank of New York (as the Depositary Bank). Securities and Exchange Commission of the United States declared that the registration statement for the ADR Program has become effective on 23rd December, 2003 (New York time).

Each ADR under the ADR Program shall represent 20 ordinary H Shares of the Company listed on the HKSE. The Company did not and will not issue any new shares under such ADR Program. ADR under the ADR Program will not be listed on any stock exchange in the United States, and will only be traded in the over-the-counter markets in the United States.

By order of the board of Tianjin Capital Environmental Protection Company Limited Ma Baiyu Chairman

Tianjin, the PRC 24th December, 2003

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

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