10:20 SINOLINK HOLD<01168> - Announcement (1) The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. SINOLINK WORLDWIDE HOLDINGS LIMITED PANVA GAS HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1168) (Stock Code: 8132) Discloseable Transaction Major Transaction TRANSACTION IN RELATION TO THE ACQUISITION OF INTEREST IN CHANGCHUN GAS HOLDINGS LIMITED FURTHER DELAY IN DESPATCH OF CIRCULARS Panva Gas announced its annual result for the year ended 2004 on 17 March 2005. It is expected that the full set of accounts (the "Panva Account") in relation to such annual result will be published and dispatch to its shareholders on or around 31 March 2005. It is also expected that on or around 8 April 2005, Changchun Listed will announce its annual result and dispatch its full set of account in relation to such annual result (the "Changchun Listed Account"). Once the Panva Account and the Changchun Listed Account are published, they will contain information that may be material for the purpose of compiling the circular in relation to the Acquisition. Both Sinolink and Panva Gas ("the Companies") have therefore applied for a further delay in dispatch of their circulars in relation to the Acquisition (the "Circulars") to 20 April 2005 so that such Circulars could also reflect the necessary information in relation to the Panva Account and Changchun Listed Account. Reference is made to the joint announcement of Sinolink and Panva Gas dated 27 August 2004 in relation to an acquisition of interest in Changchun Gas Holdings (the "Joint Announcement") and the joint announcements of Sinolink and Panva Gas dated 20 September 2004, 13 October 2004, 29 November 2004, 30 December 2004, 25 January 2005 and 1 March 2005 in relation to the delay in despatch of the Circulars. Capitalised terms used herein shall have the same meaning as ascribed thereto in the Joint Announcement. Panva Gas announced its annual result for the year ended 2004 on 17 March 2005. It is expected that the Panva Account in relation to such annual result will be published and dispatch to its shareholders on or around 31 March 2005. It is also expected that on or around 8 April 2005, Changchun Listed will announce the Changchun Listed Account. Once the Panva Account and the Changchun Listed Account are published, they will contain information that may be material for the purpose of compiling the circular in relation to the Acquisition. The Companies have therefore hereby applied for a further delay in dispatch of their Circulars to 20 April 2005 so that such Circulars could also reflect the necessary information in relation to the Panva Account and Changchun Listed Account. In such circumstances, the Companies announce that they have applied to the Stock Exchange for a waiver (which may or may not be granted) from strict compliance with Rule 14.38 of the Listing Rules (in relation to Sinolink) and Rule 19.38 of the GEM Listing Rules (in relation to Panva Gas) so as to postpone the despatch of the Circulars to be on or before 20 April 2005. By order of the Board By order of the Board TANG Yui Man Francis CHEN Wei Chief Executive Officer Managing Director Sinolink Worldwide Holdings Limited Panva Gas Holdings Limited Hong Kong, 24 March 2005 As at the date of this announcement, the Boards comprise of: SINOLINK WORLDWIDE HOLDINGS LIMITED PANVA GAS HOLDINGS LIMITED Executive Directors: Executive Directors: OU Yaping (Chairman) OU Yaping (Chairman) TANG Yui Man Francis (Chief Executive Officer) TANG Yui Man Francis (Vice Chairman) CHEN Wei CHEN Wei (Managing Director) LAW Sze Lai LI Fujun ZHANG Keyu Independent Non-executive Directors: SHEN Lian Jin LI Zhi Xiang XIN Luo Lin Non-executive Directors: