09:33     XINYI GLASS HOLDINGS LIMITED<00868> - Announcement (2)              

    conditions of the Share Offer' in the Prospectus has been applied. A      
    total of 112,500,000 International Placing Shares initially available     
    for subscription have been reallocated to the Hong Kong Public Offer.     
    As a result of such reallocation, there are 150,000,000 Offer Shares      
    available for subscription under the Hong Kong Public Offer,              
    representing 40% of the total number of the Offer Shares (without         
    taking into account Shares which may be issued pursuant to the            
    exercise of the Over-allotment Option).                                   
                                                                              
    The 337,500,000 International Placing Shares initially available for      
    subscription under the International Placing have been significantly      
    over-subscribed. Apart from the initial number of the International       
    Placing Shares offered for subscription (after the reallocation as        
    stated above), the Global Coordinator has over-allocated an aggregate     
    of 56,250,000 Shares under the International Placing. The settlement      
    of such over-allocations will be effected by the stock borrowing          
    arrangement pursuant to the Stock Borrowing Agreement.                    
                                                                              
                                                                              
    The Company has granted to the Global Coordinator the Over-allotment      
    Option which is exercisable by the Global Coordinator at any time         
    from the Listing Date up to the 30th day after the last day for the       
    lodging of applications under the Hong Kong Public Offer, to require      
    the Company to issue, at the Offer Price of HK$2.00 for each Share,       
    up to an additional 56,250,000 new Shares to cover over-allocations       
    in the International Placing. If the Over-allotment Option is             
    exercised in whole or in part, a separate press announcement will be      
    made.                                                                     
                                                                              
                                                                              
     Share certificates and/or refund cheques for the                         
    Hong Kong Public Offer Shares allotted to wholly or partially             
    successful applicants using WHITE Application Forms applying for less     
    than 1,000,000 Hong Kong Public Offer Shares or 1,000,000 Hong Kong       
    Public Offer Shares or more who did not opt for collection in person      
    will be sent by ordinary post at the applicants' own risk to the          
    addresses provided by them in the relevant Application Forms on 2         
    February 2005. Share certificates and/or refund cheques for               
    applicants applying for 1,000,000 Hong Kong Public Offer Shares or        
    more who opted for collection in person using WHITE Application Forms     
    but not collected will be sent by ordinary post at the applicants'        
    own risk to the addresses provided by them in the relevant                
    Applications Forms on 2 February 2005.                                    
                                                                              
                                                                              
    Share certificates for the Hong Kong Public Offer Shares allotted to      
    wholly or partially successful applicants using YELLOW Application        
    Forms and through Electronic Application Instructions are expected to     
    be deposited into CCASS for credit to their CCASS Investor                
    Participant stock accounts or the stock accounts of their designated      
    CCASS Broker/Custodian Participants at the close of business on 2         
    February 2005, or under contingent situations, on any other date as       
    shall be determined by HKSCC or HKSCC Nominees.                           
                                                                              
                                                                              
    Refund cheques to applicants using YELLOW Application Forms applying      
    for less than 1,000,000 Hong Kong Public Offer Shares or 1,000,000        
    Hong Kong Public Offer Shares or more who did not opt for collection      
    in person will be sent by ordinary post at the applicants' own risk       
    to the addresses provided by them in the relevant application forms       
    on 2 February 2005. Refund cheques for applicants using YELLOW            
    Application Forms applying for 1,000,000 Hong Kong Public Offer           
    Shares or more who opted for collection in person but not collected       
    will be sent by ordinary post at the applicants' own risk to the          
    addresses provided by them in the relevant application forms on 2         
    February 2005.                                                            
                                                                              
                                                                              
    All refunds of the application money for applications through             
    Electronic Application Instructions will be credited to the               
    applicants' designated bank account or the designated bank accounts       
    of the designated CCASS Broker/Custodian Participants on 2 February       
    2005.                                                                     
                                                                              
                                                                              
    Dealings in the Shares on the Main Board are expected to commence at      
    9:30 a.m. on 3 February 2005. Shares will be traded in board lots of      
    2,000 Shares.                                                             
                                                                              
                                                                              
    OFFER PRICE                                                               
    The Offer Price has been fixed by agreement between the Global            
    Coordinator and the Company at HK$2.00 for each Offer Share (plus         
    brokerage of 1%, SFC transaction levy of 0.005%, investor                 
    compensation levy of 0.002% and Stock Exchange trading fee of 0.005%      
    on the Offer Price). The net proceeds of the Share Offer (after           
    deducting the relevant expenses and based on the Offer Price of           
    HK$2.00 for each Offer Share and assuming that the Over-allotment         
    Option is not exercised at all) are estimated to amount to about          
    HK$712 million.                                                           
                                                                              
    APPLICATIONS RECEIVED AND ALLOCATION OF THE HONG KONG PUBLIC OFFER        
    SHARES