09:38     BEIJING YANHUA<00325> - Announcement (2)                            

    dealings in the Beijing Yanhua H Shares on the Stock Exchange will be     
    on Friday, 29th April 2005 and the last time for lodging transfers of     
    the Beijing Yanhua H Shares in order to qualify for entitlements          
    under the Proposal will be 4:00 p.m. on Monday, 9th May 2005.             
                                                                              
    Beijing Yanhua ADS Holders are reminded that the last day of              
    dealings in the Beijing Yanhua ADSs on the NYSE will be on Thursday,      
    28th April 2005 (United States Eastern Standard Time). The Beijing        
    Yanhua's ADS Registers will be closed from 5:00 p.m. on Thursday,         
    28th April 2005 (United States Eastern Standard Time).                    
                                                                              
    The listing of the Beijing Yanhua H Shares is expected to be              
    withdrawn from the Stock Exchange with effect from 9:30 a.m. on           
    Wednesday, 11th May 2005. The listing of the Beijing Yanhua ADSs is       
    expected to be withdrawn from the NYSE upon the making of proper          
    filing by the NYSE with the SEC not later than Tuesday, 10th May 2005     
    (United States Eastern Standard Time). Upon payment of the Merger         
    Consideration to the Bank of New York, Beijing Yanhua intends to          
    terminate the registration of the Beijing Yanhua ADSs with the SEC        
    under the Exchange Act on account of the fact that the Beijing Yanhua     
    ADSs will be owned by less than 300 holders in the United States of       
    America.                                                                  
                                                                              
                                                                              
    This announcement is made further to:                                     
                                                                              
    (a)                                                                       
    the joint announcement dated 29th December 2004 and made by Beijing       
    Yanhua and Sinopec Corp. in which it was stated that a proposal would     
    be put forward to Beijing Yanhua Shareholders regarding the proposed      
    privatization of Beijing Yanhua through Beijing Feitian by way of         
    merger by absorption of Beijing Yanhua under Article 184 of the PRC       
    Company Law at the cancellation price of HK$3.80 per Beijing Yanhua H     
    Share; and                                                                
                                                                              
    (b)                                                                       
    the announcement issued by Beijing Yanhua on 4th March 2005 in which      
    it was stated that the Special General Meetings were duly held on the     
    same date during which all the resolutions proposed were duly passed.     
                                                                              
    Capitalised terms used in this announcement shall have the same           
    meanings as defined in the Circular unless the context herein             
    requires otherwise.                                                       
                                                                              
    FULFILLMENT OF CONDITIONS AND EARLY PAYMENT OF THE MERGER                 
    CONSIDERATION                                                             
                                                                              
    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, 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.          
                                                                              
    Beijing Feitian and Beijing Yanhua are considering to pay the Merger      
    Consideration to the Beijing Yanhua H Shareholders other than the         
    Dissenting Beijing Yanhua Shareholders (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. 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 the de-registration filings are              
    processed, Beijing Yanhua will be formally de-registered and the          
    Merger will become effective.                                             
                                                                              
    CHANGE TO THE EXPECTED TIMETABLE                                          
                                                                              
    To implement the early payment of the Merger Consideration and the        
    early withdrawal of the Beijing Yanhua Listing, the revised expected      
    timetable (`Revised Expected Timetable') for the Proposal is set out      
    below:                                                                    
                                                                              
    Filing for de-registration of Beijing Yanhua with Beijing AIC             
    Monday, 25th April 2005