10:11     <01168> & <00622> - Joint Announcement & Resumption (3)             

    (b)        the licences, authorisations, consents, registrations,         
    confirmations, waivers and other approvals (the "Approvals") necessary    
    or desirable for the completion of the Acquisition Agreement by Sinolink  
    having been granted by the requisite person, entity, governmental,        
    court, regulatory or other bodies on terms satisfactory to Enerchina      
    including (but not limited to):                                           
                                                                              
    (i)        a written confirmation from the SFC confirming that            
    completion of the Acquisition Agreement will not give rise to any         
    takeover implications under the Code;                                     
                                                                              
    (ii)        any Approvals required from holders of any shares, notes,     
    bonds, instruments, redeemable notes, convertible bonds, derivatives or   
    other securities of Panva Gas, Kenson or Supreme All ("Securities") for   
    the transfer of the Sale Shares; and                                      
                                                                              
    (iii)        any Approvals required from any pledgee, mortgagee, chargee  
    or Encumbrancer of the PG Shares or Securities for the transfer of the    
    Sale Shares;                                                              
                                                                              
    (c)        save and except for the release of the obligations of the      
    Kenson Note, all releases from any pledgee, mortgagee, chargee, or        
    Encumbrancer of all Encumbrances on, over or affecting the PG Shares or   
    Securities;                                                               
                                                                              
    (d)        the passing at a general meeting of the Enerchina              
    Shareholders of a resolution to approve the purchase of the Sale Shares   
    and all other necessary resolutions to increase the authorised share      
    capital of Enerchina and to authorise the allotment and issue of the      
    Consideration Shares in the agreed form or without material amendments    
    to the agreed form; and                                                   
                                                                              
    (e)        the Approvals necessary or desirable for the completion of     
    the Acquisition Agreement by Enerchina having been granted by the         
    requisite person, entity, governmental, court, regulatory or other        
    bodies, amongst others, including (but not limited to):                   
                                                                              
    (i)        the Stock Exchange's approval for the listing of and           
    permission to deal in the Consideration Shares and any announcement or    
    circular of Enerchina to be issued in connection with the Acquisition     
    Agreement or the transactions contemplated thereunder; and                
                                                                              
    (ii)        if necessary, any Approvals required from the Bermuda         
    Monetary Authority for the allotment and issue of the Consideration       
    Shares.                                                                   
                                                                              
    Completion                                                                
    Completion of the Acquisition Agreement shall take place on the           
    Completion Date when evidence of the fulfillment of the Conditions shall  
    be produced by the relevant parties. If any Condition is not satisfied    
    or waived on or before the End Date (or such other date as the parties    
    may agree in writing) then the Acquisition Agreement shall terminate.     
                                                                              
    II.        SHAREHOLDING STRUCTURES OF SINOLINK, ENERCHINA AND PANVA GAS   
    Reference is made to the Announcement.                                    
                                                                              
    As stated in the Announcement, Enerchina has applied for an extension of  
    the waiver to restore the Public Float until 18 April 2005. As at the     
    date of this announcement, Enerchina has not yet restored the Public      
    Float.                                                                    
                                                                              
    The following charts show the respective shareholding structures of       
    Sinolink, Enerchina and Panva Gas immediately before and after            
    completion of the Acquisition/Disposal respectively:                      
                                                                              
    (a)        Immediately before completion of the Acquisition/Disposal      
                                                                              
    (i)        assuming that there is no placing down of the existing         
    Enerchina Shares by Sinolink immediately before completion of the         
    Acquisition/Disposal                                                      
                                                                              
    Mr. Ou Yaping                                                             
    Mr. Ou Yaping and family                                                  
    Public and other shareholders                                             
    100%                                                                      
    Asia Pacific                                                              
    0.27%                                                                     
    41.17%                                                                    
    0.65%                                                                     
    58.56%                                                                    
    Sinolink                                                                  
    62.37% (Note 1)                                                           
    100%                                                                      
    100%