WeRide Inc. — Capital/Financing Update 2002

Jan 8, 2002

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.

FAR EAST PHARMACEUTICAL TECHNOLOGY COMPANY LIMITED

（ 遠 東 生 物 制 藥 科 技 有 限 公 司 ）

(incorporated in the Cayman Islands with limited liability)

WAIVER OF CONDITIONS OF THE SUBSCRIPTION AGREEMENT

CSFB has waived certain conditions in relation to the issuance of the Additional Tranche 1 Bonds and the issuance of Shares pursuant to the conversion of the Additional Tranche 1 Bonds.

Reference is made to the announcement dated 14th August 2001 ("Announcement") in relation to the issuance by the Company of up to an aggregate amount of US$12,000,000 2.5 per cent. unlisted and unsecured redeemable bonds to Credit Suisse First Boston (Hong Kong) Limited ("CSFB") and the announcement dated 14th December, 2001 in relation to the exercise of options under the Subscription Agreement. Unless the context requires otherwise, terms used herein shall have the same meanings as those defined in the Announcement.

According to the Announcement, completion of the Subscription Agreement is conditional on, among other things, the obtaining of the approvals from the shareholders of the Company for the grant of the option exercisable by CSFB in relation to the issuance of the Additional Tranche 1 Bonds and the issuance of Shares pursuant to the conversion of the Additional Tranche 1 Bonds and/or the issuance of the Tranche 2 Bonds and the issuance of Shares pursuant to the conversion of the Tranche 2 Bonds. The Subscription Agreement stipulates that CSFB may at its discretion waive the whole or any part of the aforesaid conditions. As the maximum number of Shares which may be issued upon full conversion of the Additional Tranche 1 Bonds to be issued by the Company does not exceed the limit under the general mandate granted to the board of Directors to allot and issue Shares by the shareholders in the annual general meeting of the Company held on 29th November, 2001, CSFB has waived on 18th December, 2001 such condition in relation to the issuance of the Additional Tranche 1 Bonds and the issuance of Shares pursuant to the conversion of the Additional Tranche 1 Bonds.

As at the date of this announcement, the Tranche 2 Bonds have not yet been issued by the Company. If the maximum number of Shares which may be issued upon full conversion of the Tranche 2 Bonds to be issued by the Company exceeds the limit under the general mandate granted to the board of Directors during the annual general meeting of the Company held on 29th November, 2001 (after taken into account the maximum number of Shares which may be issued upon full conversion of the Additional Tranche 1 Bonds to be issued by the Company) or any other general mandate granted to the board of Directors to allot and issue Shares by the shareholders in existence prior to the issuance of Shares pursuant to the conversion of the Tranche 2 Bonds, the Company will seek its shareholders' approval for the issuance of such Shares pursuant to the conversion of the Tranche 2 Bonds.

By Order of the Board

Far East Pharmaceutical Technology Company Limited

Cai Chong Zhen

Chairman

Hong Kong, 7th January, 2002

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