10:23     SINOPEC KANTONS<00934> - Announcement (12)                          

    February 2005 entered into between the Company and CPIC.                  
      Agreement"                                                              
                                                                              
    "CPIC Group"    CPIC, its subsidiaries and its associated companies       
    and affiliates.                                                           
                                                                              
    "CPIGC" * (China Petrochemical                                            
    International Guangzhou Company), a company established under             
    the laws of the PRC, which is a wholly-owned subsidiary of GPC.           
                                                                              
    "CPIGC Framework        the agreement dated 18 February 2005 entered      
    into between the Company and CPIGC.                                       
      Master Agreement"                                                       
                                                                              
    "Director(s)"   the director(s) of the Company, including the             
    independent non-executive directors of the Company.                       
                                                                              
    "Existing Ongoing       the services and facilities in relation to        
    the Huizhou Jetty, the supplies of petroleum products to the              
    Kantons Petrol Stations,                                                  
      Connected Transactions"       the crude oil supply and sourcing,        
    petroleum and petrochemical products trading and the third party          
    processing of crude oil collectively and the trading activities           
    details of which are set out in paragraph (A) of this announcement.       
                                                                              
    "First Waiver"  first waiver to the connected transactions                
    requirements under the Listing Rules in relation to the Existing          
    Ongoing Connected Transactions granted by the Stock Exchange              
    in June 1999.                                                             
                                                                              
    "GPC"   * (Sinopec Guangzhou                                              
    Petrochemical Complex), an enterprise established under the laws          
    of the PRC and a wholly-owned subsidiary of Sinopec Group Company.        
                                                                              
    "Group" the Company and its subsidiaries.                                 
                                                                              
    "Guangdong Company"     *                                                 
    (Sinopec Guangdong Oil Products Company), a branch of Sinopec             
    Corp..                                                                    
                                                                              
    "Guangzhou City"        the administrative area which covers ten (10)     
    districts in Guangzhou, namely, Baiyun District (*),                      
    Dongshan District (*), Fangcun District (*), Haizhu                       
    District (*), Huangpu District (*), Liwan District (*), Tianhe District   
    (*), Yuexiu District (*), Huadu                                           
    District (*) and Panyu District (*).                                      
                                                                              
    "Guangzhou Municipality"        the administrative area which covers      
    the Guangzhou City and its two (2) adjacent county-level cities,          
    namely, Conghua (*) and Zengcheng (*).                                    
                                                                              
    "Hong Kong"     the Hong Kong Special Administrative Region of the        
    PRC.                                                                      
                                                                              
    "Huade" *(Hua De Petrochemical Co.                                        
    Ltd.), a sino-foreign equity joint venture company established            
    under the laws of the PRC with limited liability in respect of            
    which a seventy per cent. (70%) equity interest is held by the            
    Group through Kantons Investment and a thirty per cent. (30%)             
    equity interest is held by GPC.                                           
                                                                              
    "Huizhou Jetty" the Huizhou Crude Oil Jetty Complex, including            
    its oil tanker handling, crude oil unloading, storage and                 
    pipeline transmission facilities, which is located on Mabianzhou          
    Island (*) in the Daya Bay Economic and Technological                     
    Development Zone (*) in Huizhou (*),                                      
    Guangdong Province, the PRC and which is owned and operated by            
    the Group through Huade.