Sinopec Engineering Group Co Ltd. — Board/Management Information 2002

May 27, 2002

UNIVERSE INTERNATIONAL HOLDINGS LIMITED

(incorporated in Bermuda with limited liability)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board of Directors of Universe International Holdings Limited (the “Company”) announces that Mr. Tang Yiu Wing resigned as an independent non-executive director of the Company with effect from 27th May 2002.

The Board would like to take this opportunity to acknowledge Mr. Tang for his contribution to the Company in the past.

By Order of the Board Chan Hau Chuen Company Secretary

Hong Kong, 27th May 2002

Please also refer to the published version of this announcement in the Hong Kong i-Mail.

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UNIVERSE – ANNOUNCEMENT 27th May, 2002