09:47     SINOLINK HOLD<01168> & ENERCHINA HOLD<00622> - Joint Ann.(1)        

    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.                   
                                                                              
            SINOLINK WORLDWIDE HOLDINGS LIMITED        ENERCHINA HOLDINGS     
    LIMITED                                                                   
            (Incorporation in Bermuda with limited liability)                 
    (Incorporation in Bermuda with limited liability)                         
            (Stock Code: 1168)        (Stock Code: 622)                       
                                                                              
    JOINT ANNOUNCEMENT                                                        
                                                                              
    CLOSING OF                                                                
    UNCONDITIONAL MANDATORY GENERAL OFFERS                                    
    BY                                                                        
    MORGAN STANLEY DEAN WITTER ASIA LIMITED                                   
    ON BEHALF OF                                                              
    SINOLINK WORLDWIDE HOLDINGS LIMITED                                       
    TO ACQUIRE ALL THE ISSUED SHARES OF                                       
    AND FOR CANCELLATION OF ALL OUTSTANDING OPTIONS OF                        
    ENERCHINA HOLDINGS LIMITED                                                
    (OTHER THAN THOSE SHARES HELD BY SINOLINK WORLDWIDE HOLDINGS LIMITED AND  
    PARTIES ACTING IN CONCERT WITH IT)                                        
                                                                              
    FINANCIAL ADVISER TO SINOLINK WORLDWIDE HOLDINGS LIMITED                  
    Morgan Stanley                                                            
                                                                              
    INDEPENDENT FINANCIAL ADVISER TO                                          
    THE ENERCHINA INDEPENDENT BOARD COMMITTEE                                 
    Dao Heng Securities Ltd.                                                  
                                                                              
    The Offers closed on 18 January 2005. As at 4:00 p.m. on 18 January       
    2005, being the latest time and date for acceptance of the Offers, the    
    Offeror had received valid acceptances (subject to verification) in       
    respect of (i) 304,201,436 Shares under the Share Offer, representing     
    approximately 13.28% of the total issued capital of the Company; and      
    (ii) 4,500,000 Options under the Option Offer, representing               
    approximately 3.91% of the total outstanding Options.                     
                                                                              
    Immediately before commencement of the offer period (as defined in the    
    Takeovers Code), the Offeror and the parties acting in concert with it    
    owned an aggregate 1,147,680,775 Shares, representing approximately       
    50.10% of the voting rights in the Company. Taking into account the       
    valid acceptances received pursuant to the Share Offer in respect of      
    304,201,436 Shares and subject to completion of the transfer of those     
    Shares to the Offeror, the Offeror and parties acting in concert with it  
    will be interested in 1,451,882,211 Shares, representing approximately    
    63.38% of the entire issued share capital of the Company and of the       
    voting rights exercisable at general meetings of the Company. As at the   
    date of this announcement, Warburg Pincus & Co., a substantial            
    shareholder of the Company, is interested in 515,524,377 Shares (by       
    virtue of its deemed interest in the Shares held by Atlantic Cay          
    International Limited and Warburg Pincus Ventures L.P., as detailed in    
    section 4(b) of Appendix IV to the Composite Document), representing      
    22.50% of the voting rights in the Company. Taking into account the       
    valid acceptances received pursuant to the Share Offer in respect of      
    304,201,436 Shares and subject to completion of the transfer of those     
    Shares to the Offeror, public float for the Shares will be 14.12%. The    
    directors of the Offeror will undertake to the Stock Exchange that        
    appropriate steps will be taken to ensure that not less than 25% of       
    public float exists for the Shares. Application will be made by the       
    Company to the Stock Exchange for a waiver from strict compliance with    
    Rule 8.08 of the Listing Rules on the 25% minimum public float            
    requirement for a period of one month from the date of this announcement  
    until 18 February 2005. Since the public float of the Company has fallen  
    below 25%, the Stock Exchange indicates that the Shares should be         
    suspended for dealings in accordance with the Listing Rules. As such,     
    the Company has applied and requested for a suspension of dealings in     
    the Shares as from 19 January 2005 pending further announcement on the    
    public float issue.                                                       
                                                                              
    Reference is made to the joint announcements made by the Offeror and the  
    Company on 6 December 2004 and 29 December 2004 respectively, and the     
    composite document issued jointly by the Offeror and the Company on 28    
    December 2004 (the "Composite Document") in relation to the Offers.       
    Terms defined in the Composite Document shall have the same meanings      
    used herein unless the context otherwise requires.                        
                                                                              
    CLOSING OF THE OFFERS AND ACCEPTANCE LEVEL                                
    The Offers closed on 18 January 2005. As at 4:00 p.m. on 18 January       
    2005, being the latest time and date for acceptance of the Offers, the    
    Offeror had received valid acceptances (subject to verification) in       
    respect of (i) 304,201,436 Shares under the Share Offer, representing