09:38     BEIJING YANHUA<00325> - 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.               
                                                                              
                                                                              
    SINOPEC BEIJING YANHUA PETROCHEMICAL COMPANY LIMITED                      
    (A joint stock limited company incorporated in the People's Republic      
    of China with limited liability)                                          
    (Stock code: 0325)                                                        
                                                                              
                                                                              
    FULFILLMENT OF CONDITIONS                                                 
    CHANGE TO THE EXPECTED TIMETABLE                                          
    AND                                                                       
    EXPECTED DATE OF WITHDRAWAL OF                                            
    THE BEIJING YANHUA LISTING                                                
    Financial Adviser to Beijing Yanhua                                       
                                                                              
                                                                              
    Bear Stearns Asia Limited                                                 
                                                                              
    Independent Financial Adviser to the Independent Board Committee of       
    Beijing Yanhua                                                            
                                                                              
    Lehman Brothers Asia Limited                                              
                                                                              
    The Sinopec Corp. Directors and the Beijing Yanhua Directors              
    jointly announced on 29th December 2004 that:                             
                                                                              
    (a)                                                                       
    Sinopec Corp.'s wholly owned subsidiary, Beijing Feitian, entered         
    into the Merger Agreement with Beijing Yanhua; and                        
                                                                              
    (b)                                                                       
    the Beijing Yanhua Directors agreed to put forward to the Beijing         
    Yanhua Shareholders the Proposal, which involved the cancellation of      
    all the Beijing Yanhua Shares.                                            
                                                                              
    On 17th January 2005, a composite document relating to the Proposal       
    (the `Circular') was issued jointly by Beijing Yanhua and Sinopec         
    Corp.                                                                     
                                                                              
    The Special General Meeting and the Special General Meeting of the        
    Independent Beijing Yanhua Shareholders were duly held on 4th March       
    2005, during which all the resolutions proposed were duly passed.         
                                                                              
    The Beijing Yanhua Board is pleased to announce that all Conditions       
    (except, that the 90-day creditors' notice period has not yet expired     
    and that filings for increasing the registered capital of Beijing         
    Feitian and for de-registration of Beijing Yanhua with Beijing AIC        
    have yet to be made) have been fulfilled, including the obtaining of      
    all the PRC Approvals. Accordingly, Beijing Yanhua has applied to the     
    Stock Exchange for the withdrawal of the Beijing Yanhua Listing. Such     
    application has been made in accordance with Rule 6.15(2) of the          
    Listing Rules as it is proposed that Beijing Yanhua be privatized by      
    way of merger by absorption under Article 184 of the PRC Company Law      
    which is taken as akin to a scheme of arrangement which is governed       
    by the Takeovers Code and all the relevant requirements, including        
    the shareholders' approval requirements, under the Takeovers Code (to     
    the extent applicable) have been complied with.                           
                                                                              
    Despite that the 90-day creditors' notice period has not yet              
    expired, Beijing Feitian and Beijing Yanhua are considering to pay        
    the Merger Consideration to the Qualifying Shareholders and               
    withdrawing the Beijing Yanhua Listing by early May, 2005, which is       
    earlier than the expected timetable as set out in the Circular. The       
    Beijing Yanhua Directors believe that the proposed change to the          
    expected timetable will be in the best interests of the Qualifying        
    Shareholders. Beijing Feitian will make payment to the Qualifying         
    Shareholders prior to expiry of the 90-day creditors' notice period       
    (which will only expire on 7th June 2005). After expiry of the 90-day     
    creditors' notice period and de-registration filings are processed,       
    Beijing Yanhua will be formally de-registered and the Merger will         
    become effective.                                                         
                                                                              
    To facilitate the calculation and payment of the Merger                   
    Consideration, any Beijing Yanhua Shareholder who has voted against       
    the Proposal at both Special General Meetings and who wishes to           
    request Beijing Yanhua and/or Beijing Yanhua Shareholders who have        
    voted for the Proposal to purchase its Beijing Yanhua Shares at a         
    `fair price' in accordance with Article 172 of the Beijing Yanhua         
    Articles is advised to make its request before Monday, 9th May 2005.      
    Even if those Beijing Yanhua Shareholders do not make their request       
    before Monday, 9th May 2005, their right to request for a fair price      
    will not be extinguished under PRC laws.                                  
                                                                              
    Beijing Yanhua H Shareholders are reminded that the last day of