09:39     BEIJING YANHUA<00325> - Announcement (3)                            

    Last day for dealings in the Beijing Yanhua ADSs  Thursday, 28th          
    April 2005^                                                               
                                                                              
    Record Time/Closure of Beijing Yanhua's ADS Registers  5:00 p.m. on       
    Thursday,                                                                 
                                                                              
    28th April 2005^                                                          
    Last day for dealings in the Beijing Yanhua H Shares Friday, 29th         
    April 2005                                                                
                                                                              
    Suspension of dealings in the Beijing Yanhua ADSs 9:30 a.m. on            
    Friday,                                                                   
                                                                              
    29th April 2005^                                                          
    Suspension of dealings in the Beijing Yanhua H Shares  9:30 a.m. on       
    Tuesday,                                                                  
                                                                              
    3rd May 2005                                                              
    Latest time for lodging transfers of the Beijing Yanhua H Shares          
    in order to qualify for the Cancellation Price  4:00 p.m. on              
    Monday,                                                                   
                                                                              
    9th May 2005                                                              
    Record Time/Closure of Beijing Yanhua's Registers (until                  
    deregistration occurs) 4:00 p.m. on Tuesday,                              
    10th May 2005                                                             
    The NYSE to make proper filing with the SEC to withdraw the listing       
    of                                                                        
                                                                              
    Beijing Yanhua ADSs on the NYSE  not later than Tuesday,                  
    10th May 2005^                                                            
    Withdrawal of the Beijing Yanhua Listing becomes effective  9:30          
    a.m. on Wednesday, 11th May 2005                                          
                                                                              
    Press announcement of the withdrawal of the Beijing Yanhua Listing        
    in South China Morning Post and Hong Kong Economic Times  Wednesday,      
    11th May 2005                                                             
                                                                              
    Cheques for payment of the Cancellation Price to be despatched on         
    or before  Tuesday, 17th May 2005                                         
    End of the period during which creditors may request Beijing              
    Yanhua                                                                    
                                                                              
    and Beijing Feitian to pay off their respective indebtedness              
    Tuesday, 7th June 2005                                                    
                                                                              
    De-registration of Beijing Yanhua with Beijing AIC becomes effective      
    Tuesday, 7th June 2005                                                    
                                                                              
                                                                              
    ^ United States Eastern Standard Time                                     
                                                                              
    To facilitate payment of the Merger Consideration, 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.                                                           
                                                                              
    LAST DAY FOR DEALINGS IN THE BEIJING YANHUA H SHARES AND ADSS             
                                                                              
    Under the Revised Expected Timetable, the Beijing Yanhua H                
    Shareholders are reminded that dealings in the Beijing Yanhua H           
    Shares on the Stock Exchange will cease immediately after 4:00 p.m.       
    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 H Shareholders should ensure that their Beijing            
    Yanhua H Shares are lodged for registration in their names or in the      
    names of their nominees with the Hong Kong branch share registrar of      
    Beijing Yanhua, Hong Kong Registrars Limited, at Rooms 1712-1716,         
    17th Floor, Hopewell Centre, 183 Queen's Road Central, Wanchai, Hong      
    Kong not later than 4:00 p.m. on Monday, 9th May 2005 in order to         
    qualify for their entitlements under the Proposal.                        
                                                                              
    Under the Revised Expected Timetable, the 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),          
    whereas the Beijing Yanhua's Registers will be closed from 4:00 p.m.,     
    on Tuesday, 10th May 2005 until deregistration of Beijing Yanhua          
    occurs. The record time for establishing entitlements under the           
    Proposal will be 4:00 p.m. on 10th May 2005 for the Beijing Yanhua H      
    Shares and 5:00 p.m. on Thursday, 28th April 2005 (United States          
    Eastern Standard Time) for the Beijing Yanhua ADSs. Cheques for cash      
    entitlements to the Merger Consideration are expected to be