09:59 ANHUI CONCH<00914> - Announcement (3) Based on the Unaudited Accounts, the total asset value of Shuangfeng Conch as at 30 November 2004 was approximately RMB586,133,165 (equivalent to approximately HK$552,955,816). Based on the Unaudited Accounts, the net asset value of Shuangfeng Conch as at 30 November 2004 was approximately RMB266,279,292 (equivalent to approximately HK$251,206,879). Being one of the subsidiaries of the Company, the assets of Shuangfeng Conch has already been consolidated into the unaudited consolidated accounts of the Group in its interim report for the six months ended 30 June 2004 and into the unaudited consolidated accounts of the Group in its third quarterly report for the nine months ended 30 September 2004. After the Connected Transaction, Shuangfeng Conch will become a wholly-owned subsidiary of the Company and its assets will continue to be consolidated in the consolidated accounts of the Group. 5. Definitions "Board" means the board of directors of the Company "Company" means Anhui Conch Cement Company Limited, a company established in the PRC, whose H shares are listed on the Stock Exchange and whose A shares are listed on the Shanghai Stock Exchange "Connected Transaction" means the transfer of an aggregate 49% of the equity interest in Shuangfeng Conch from Development & Investment Company to the Company and Huaining Conch pursuant to the terms of the Equity Transfer Agreement "Consideration" means the aggregate consideration to be paid by the Company and Huaining Conch to Development & Investment Company pursuant to the terms of the Equity Transfer Agreement "Controlling Shareholder" means the meaning ascribed to it under the Listing Rules "Development & Investment means Anhui Province Development & Investment Co., Ltd., a Company" company established in the PRC "Equity Transfer Agreement" means the equity transfer agreement entered into on 29 December 2004 between the Company and Huaining Conch as purchasers and Development & Investment Company as vendor in relation to the transfer of 49% equity interests in Shuangfeng Conch "Group" means the Company and its subsidiaries "Hong Kong" means the Hong Kong Special Administrative Region of the PRC "Huaining Conch" means Anhui Huaining Conch Cement Co., Ltd., a limited company established in the PRC "Listing Rules" means the Rules Governing the Listing of Securities on the Stock Exchange "PRC" means the People's Republic of China "RMB" means Renminbi, the lawful currency of the PRC "Shuangfeng Conch" means Shuangfeng Conch Cement Co., Ltd., a limited company established in the PRC "Stock Exchange" means The Stock Exchange of Hong Kong Limited "Unaudited Accounts" means the unaudited management accounts of Shuangfeng Conch for the period since its establishment up to 30 November 2004 "%" means per cent Note: For the purpose of the aforesaid announcement, translation of Renminbi into Hong Kong dollars or vice versa has been calculated by using an exchange rate of HK$1.00 = RMB1.06 As at the date of this announcement, the Board comprises (i) Messrs Guo Wensan, Li Shunan, Yu Biao, Zhu Dejin and Guo Jingbin as executive directors, and (ii) Ms Xue Tongzu, Mr Kuang Bingwen and Mr Ding Zhiming as independent non-executive directors. By order of the Board Zhang Mingjing Company Secretary 4 January 2005 Wuhu City, Anhui Province, The PRC * For the Chinese name, please refer to the full version on HKEX website.