10:05     COFCO INTL<00506> - Announcement (3)                                

    Shandong Province, PRC. It is mainly engaged in the business              
    of processing agricultural products (including peanuts, cotton            
    seeds, vegetable seeds, soybean, wheat and corn) and related              
    businesses.                                                               
                                                                              
    Bestfield is a company incorporated in the British Virgin Islands         
    and a wholly-owned subsidiary of the Company, and is an                   
    investment holding company.                                               
                                                                              
    ADM China is a company incorporated in Mauritius and a                    
    wholly-owned subsidiary of ADM, and is an investment holding              
    company.                                                                  
                                                                              
    FINANCIAL INFORMATION OF THE JV CO.                                       
                                                                              
    Since the date of commencing operation in June 2004, the JV Co.           
    had incurred a net loss of HK$960,886 as per management account           
    for the period from 1 June, 2004 to 31 December, 2004. The total          
    amount of the net assets of the JV Co. was HK$99,013,815 as per           
    the management account as at 31 December, 2004.                           
                                                                              
    CONNECTED TRANSACTION                                                     
                                                                              
    ADM China is a wholly-owned subsidiary of ADM, which in turn              
    is the holding company of ADM Hong Kong. ADM Hong Kong is a               
    substantial shareholder of certain non wholly-owned                       
    subsidiaries of the Company, and a connected person of the                
    Company. ADM China is a connected person of the Company under             
    the Listing Rules.                                                        
                                                                              
    Since the JV Co. is a non wholly-owned subsidiary of the Company          
    where ADM China controls the exercise of more than 10% of the             
    voting power of the JV Co., the contribution of additional                
    capital by Bestfield to the JV Co. constitutes a connected                
    transaction under the Listing Rules. The connected transaction            
    is only subject to reporting and announcement requirements under          
    Rule 14A.32 of the Listing Rules because the applicable                   
    percentage ratios represented by the combined amount of the above         
    connected transaction and the connected transaction disclosed             
    on 30 March, 2004 are less than 2.5% as provided in Rule 14A.32(1)        
    of the Listing Rules. Appropriate disclosure of the above                 
    transactions will be included in the next published annual report         
    and accounts of the Company in accordance with the Listing Rules.         
                                                                              
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, the following expressions have the                  
    meanings set out below unless the context requires otherwise:             
                                                                              
    "ADM"   Archer Daniels Midland Company, a company incorporated            
    in the United States of America and the holding company of ADM            
    China                                                                     
                                                                              
    "ADM China"     ADM China Holdings Ltd., a company incorporated in        
    Mauritius and a wholly-owned subsidiary of ADM                            
                                                                              
    "ADM Hong Kong" Archer Daniels Midland Asia-Pacific Ltd., a               
    wholly-owned subsidiary of ADM and a substantial shareholder              
    of certain non wholly-owned subsidiaries of the Company                   
                                                                              
    "Approval Authority"    the authority in the PRC in charge of the         
    approval of the establishment of the JV Co., and any subsequent           
    changes to the JV Co., including the amendment to the Articles            
    and the increase of its registered capital                                
                                                                              
    "Articles"      the articles of association of the JV Co. dated 28        
    September, 2003 (as amended)