09:58     XIN CORP<01141> - Announcement (3)                                  

    In view of the relatively low market value for each existing              
    board lot of the Shares, the Directors believe that the Share             
    Consolidation will increase the value per share and reduce                
    the transaction costs for dealing in the shares in the Company,           
    including charges by reference to the number of share                     
    certificate issued.                                                       
                                                                              
    GENERAL                                                                   
                                                                              
    A circular containing details of the Capital Reorganisation               
    and a notice convening the SGM will be despatched to                      
    Shareholders as soon as possible.                                         
                                                                              
    TERMS USED IN THIS ANNOUNCEMENT                                           
                                                                              
    In this announcement, the following terms have the following              
    meanings:                                                                 
                                                                              
    "Board"   the board of Directors                                          
                                                                              
    "Capital Reduction"   the proposed capital reduction which                
    involves the nominal value of each Existing Share in issue                
    being reduced from HK$0.01 to HK$0.0005                                   
                                                                              
    "Capital Reorganisation"   collectively, the Capital                      
    Reduction, the Share Premium Reduction and the Share                      
    Consolidation                                                             
                                                                              
    "Company"   Xin Corporation Limited, a company incorporated               
    in Bermuda with limited liability and the issued shares of                
    which are listed on the Main Board of the Stock Exchange                  
                                                                              
    "Consolidated Share(s)"   new ordinary share(s) of HK$0.01                
    each in the capital of the Company after the Share                        
    Consolidation has taken effect                                            
                                                                              
    "Directors"   directors of the Company                                    
                                                                              
    "Existing Shares"   existing ordinary shares of HK$0.01 each              
    in the capital of the Company                                             
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "HK$"   Hong Kong dollars                                                 
                                                                              
    "Listing Rules"   the Rules Governing the Listing of                      
    Securities on the Stock Exchange                                          
                                                                              
    "SGM"   the special general meeting of the Company to be held             
    to consider and, if appropriate, approve the Capital                      
    Reorganisation                                                            
                                                                              
    "Shareholder(s)"   holder(s) of Existing Shares or, as the                
    case may be, Consolidated Shares                                          
                                                                              
    "Share Consolidation"   the proposed consolidation of every               
    20 shares of HK$0.0005 each resulting from the Capital                    
    Reduction into one Consolidated Share of HK$0.01                          
                                                                              
    "Share Premium Reduction"   the proposed cancellation of the              
    entire amount standing to the credit of the share premium                 
    account of the Company as at 31st March, 2005                             
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
                                                                              
                                                                              
    On behalf of the Board                                                    
    Lo Ming Chi, Charles                                                      
    Chairman                                                                  
                                                                              
    Hong Kong, 13th April, 2005                                               
                                                                              
    As at the date of this announcement, the Board comprises Mr.              
    Lo Ming Chi, Charles (Chairman), Mr. Yu Wai Man, Mr. Wilson               
    Ng, Mr. Ng Wee Keat and Mr. Ng Eng Leng as executive directors            
    and Mr. Wong Kwok Tai, Mr. Lau Pok Lam and Mr. Ko Kwong Woon,             
    Ivan as independent non-executive directors.                              
                                                                              
    *  For identification only