09:24     TITAN PETROCHEM<01192> - Announcement (3)                           

    ``Directors''                                                             
                                                                              
       the directors of the Company;                                          
                                                                              
    ``Group''                                                                 
                                                                              
       the Company and its subsidiaries;                                      
                                                                              
    ``HK$''                                                                   
                                                                              
       the lawful currency of Hong Kong;                                      
                                                                              
    ``Hong Kong''                                                             
                                                                              
       The Hong Kong Special Administrative Region of the People's            
    Republic of China;                                                        
                                                                              
    ``Independent Third Parties''                                             
                                                                              
       persons who, to the best of the Directors' knowledge, information      
    and belief, having made all reasonable enquiries, are third parties       
    independent of the Company and director, chief executive or               
    substantial shareholder of the Company or any of its subsidiaries or      
    an associate of any of them;                                              
                                                                              
    ``Listing Rules''                                                         
                                                                              
       The Rules Governing the Listing of Securities on the Stock             
    Exchange;                                                                 
                                                                              
    ``MOAs''                                                                  
                                                                              
       the World Prelude MOA and the Titan Neptune MOA;                       
                                                                              
    ``Shareholders''                                                          
                                                                              
       the shareholders of the Company;                                       
                                                                              
    ``Stock Exchange''                                                        
                                                                              
       The Stock Exchange of Hong Kong Limited;                               
                                                                              
    ``Titan Aries''                                                           
                                                                              
       Titan Aries Pte. Ltd., a company incorporated in Singapore and         
    which is an indirect wholly-owned subsidiary of the Company;              
                                                                              
    ``Titan Neptune''                                                         
                                                                              
       Titan Neptune Shipping Pte. Ltd., a company incorporated in            
    Singapore and which is an indirect wholly-owned subsidiary of the         
    Company;                                                                  
                                                                              
    ``Titan Neptune MOA''                                                     
                                                                              
       the memorandum of agreement entered into between Titan Neptune and     
    Averrida dated 18th March, 2005                                           
                                                                              
    ``US$''                                                                   
                                                                              
       the lawful currency of the United States of America;                   
                                                                              
    ``Vessels''                                                               
                                                                              
       two very large crude oil carriers named M/T ``World Prelude'' with     
    dead weight tonnage of 265,243 tonnes and M/T ``Titan Neptune'' with      
    dead weight tonnage of 265,322 tonnes, both built in 1988; and            
                                                                              
    ``World Prelude MOA''                                                     
                                                                              
       the memorandum of agreement entered into between Titan Aries and       
    Clover Company dated 18th March, 2005                                     
                                                                              
    Unless otherwise specified in this announcement, translations of US$      
    into HK$ are made in this announcement, for illustration only, at the     
    rate of US$1.00 to HK$7.80. No representation is made that any amounts    
    in US$ or HK$ could have been or could be converted at that rate or       
    at any other rate.                                                        
                                                                              
    By order of the board                                                     
    Titan Petrochemicals Group Limited                                        
    Barry Cheung Chun Yuen, JP                                                
                                                                              
    Hong Kong, 18th March, 2005