Sinopec Engineering Group Co Ltd. — Capital/Financing Update 2003

Sep 9, 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.

寰宇國際控股有限公司 [*] UNIVERSE INTERNATIONAL HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

ALLOTMENT RESULTS OF THE RIGHTS ISSUE

Allotment results of the Rights Issue

The Board announces that, as at the Final Acceptance Date, 32 valid acceptances of provisional allotments of Rights Shares have been received for a total of 473,862,834 Rights Shares and 31 valid applications for excess Rights Shares have been received for a total of 247,117,309 Rights Shares, resulting in total valid applications for 720,980,143 Rights Shares which represent approximately 150.77 per cent. of the 478,201,790 Rights Shares in total available under the Rights Issue, of which approximately 99.09 per cent. were subscribed under the provisional allotments of Rights Shares and approximately 0.91 per cent. were subscribed under the excess applications for the Rights Shares. Accordingly, the Rights Issue was over-subscribed.

The Rights Issue has become unconditional at 4:00 p.m. on Monday, 8th September, 2003.

Unless otherwise defined, terms used in this announcement shall have the same meanings as those used in the prospectus of Universe International Holdings Limited (the “Company”) dated 19th August, 2003 (the “Prospectus”).

RESULTS OF THE RIGHTS ISSUE

The Board announces that as at 4:00 p.m. on Wednesday, 3rd September, 2003, being the Final Acceptance Date, 32 valid acceptances of provisional allotments of Rights Shares have been received for a total of 473,862,834 Rights Shares and 31 valid applications for excess Rights Shares have been received for a total of 247,117,309 Rights Shares, resulting in total valid applications for 720,980,143 Rights Shares which represent approximately 150.77 per cent. of the 478,201,790 Rights Shares in total available under the Rights Issue, of which approximately 99.09 per cent. were subscribed under the provisional allotments of Rights Shares and approximately 0.91 per cent. were subscribed under the excess applications for the Rights Shares. Accordingly, the Rights Issue was over-subscribed.

As at the Final Acceptance Date, the Major Shareholder was beneficially interested in an aggregate of 576,754,470 Shares, representing approximately 60.30 per cent. of the then issued share capital of the Company. The Major Shareholder has taken up its provisional allotment of 288,377,235 Rights Shares, representing approximately 60.30 per cent. of the Rights Shares under the Rights Issue. The Major Shareholder has confirmed that neither it nor any of its subsidiaries nor any of its respective associates (as defined under the Listing Rules) have applied for any excess Rights Shares.

The Rights Issue has become unconditional at 4:00 p.m. on Monday, 8th September, 2003.

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OVER-SUBSCRIPTION OF THE RIGHTS SHARES

As a result of the over-subscription of the Rights Shares, the Major Shareholder as Underwriter is not required to take up any Rights Shares not subscribed or applied for pursuant to the Underwriting Agreement. Accordingly, the shareholding of the Major Shareholder in the Company remains unchanged after the Rights Issue.

The 4,338,956 Rights Shares available for excess applications were allocated on a fair and reasonable basis but preference was given to applications for less than one board lot of Shares where it appeared to the Directors that such applications had been made to round up an existing holding of an odd lot of Shares.

The remaining excess Rights Shares were allotted in proportion to the amount of nil-paid Rights Shares provisionally allotted to those Qualifying Shareholders who applied for excess Rights Shares. Application for such amount of excess Rights Shares which was less than the amount of the entitlement of excess Rights Shares (using the above proportion) was satisfied in full.

The further remaining excess Rights Shares were allotted to applicants in proportion to the excess Rights Shares applied by them after netting off their respective entitlements as calculated in the previous paragraph.

The results of the allotment of the excess Rights Shares were shown as below:

			Approximate	Approximate
			percentage
			of the allocation
			of excess
Excess Rights	Number of	Excess Rights	Rights Shares
Shares applied for	valid applications	Shares allotted	applied for (%)
1-94,999	3	34,606		86.88
95,000-199,999	4	11,734		2.95
200,000-399,999	2	8,033		1.06
400,000-599,999	1	2,059		0.41
600,000-799,999	1	4,893		0.81
800,000-999,999	3	20,581		0.72
1,000,000-4,999,999	8	91,419		0.50
5,000,000-9,999,999	3	70,416		0.42
10,000,000-49,999,999	5	430,405		0.40
50,000,000 or above	1	3,664,810		3.73
	31	4,338,956

DESPATCH OF CERTIFICATES FOR THE RIGHTS SHARES AND REFUND CHEQUES AND COMMENCEMENT OF DEALINGS

All of the conditions of the Rights Issue as set out in the Prospectus have been fulfilled. It is expected that refund cheques in respect of the unsuccessful applications for excess Rights Shares and share certificate(s) in respect of the fully-paid Rights Shares will be despatched to those entitled thereto at their own risk by ordinary post on or before Thursday, 11th September, 2003.

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Dealings in the Rights Shares, in their fully-paid form, are expected to commence on Monday, 15th September, 2003.

By order of the Board Lam Shiu Ming, Daneil Chairman

Hong Kong, 8th September, 2003

* For identification purposes only

Please also refer to the published version of this announcement in the International Herald Tribune.

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