09:42     CHINA RES CMENT<00712> & CRCMT FIN B1001<02512> - Ann. (2)          

    Public   92,674,814      25.5      121,238,814      15.9                  
                                                                              
       362,807,461      100.0      762,807,461      100.0                     
                                                                              
    China Resources Holdings has undertaken to the Company and the Stock      
    Exchange that it will not exercise the rights to convert the Bonds held   
    by it and/or its associates if such conversion would result in Shares of  
     less than the specified percentage required by the then prevailing       
    Listing Rules to be held by the public. As at the date of this            
    announcement, this percentage is currently at 25% for the Company.        
                                                                              
    DESPATCH OF THE CERTIFICATES FOR THE BONDS                                
                                                                              
    The certificates for the Bonds will be despatched on Friday, 25 February  
     2005 to the relevant Qualifying Shareholders at their own risk to their  
     addresses shown on the register of members of the Company.               
                                                                              
    Dealings in the Bonds are expected to commence on Wednesday, 2 March      
    2005.                                                                     
                                                                              
       By order of the Board   By order of the board of directors of the      
    Issuer                                                                    
       Shi Shanbo   Shi Shanbo                                                
       Director   Director                                                    
                                                                              
    Hong Kong, 22 February 2005                                               
                                                                              
    As at the date of this announcement, the Board comprises eleven           
    Directors, of which six are executive Directors, namely Mr. Qiao Shibo,   
    Mr. Shi Shanbo, Ms. Zhou Junqing, Mr. Zhou Longshan, Ms. Sun Mingquan     
    and Mr. Zheng Yi; two are non-executive Directors, namely Mr. Jiang Wei   
    and Mr. Keung Chi Wang, Ralph and three are independent non-executive     
    Directors, namely Mr. Chan Mo Po, Paul, Mr. Lin Zongshou and Mr. Lui Pui  
     Kee, Francis.                                                            
                                                                              
    As at the date of this announcement, the board of directors of the        
    Issuer comprises four directors, namely Mr. Shi Shanbo, Ms. Zhou          
    Junqing, Mr. Zhou Longshan and Mr. Lau Chung Kwok Robert.