10:14 SINOLINK HOLD<01168> - 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. SINOLINK WORLDWIDE HOLDINGS LIMITED PANVA GAS HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1168) (Stock Code: 8132) Discloseable Transaction Major Transaction TRANSACTION IN RELATION TO THE ACQUISITION OF INTERESTS IN CHANGCHUN GAS HOLDINGS LIMITED DELAY IN DESPATCH OF CIRCULARS Panva Gas announced its annual results for the year ended 31 December 2004 on 17 March 2005 and the Panva Gas Accounts were published and despatched to its shareholders on 31 March 2005. Changchun Listed announced its annual results for the year ended 31 December 2004 and despatched the Changchun Listed Accounts on 8 April 2005. Both the Panva Gas Accounts and the Changchun Listed Accounts contained financial information that was material for the purpose of incorporation into the Circulars. Since the Companies required additional time for the purpose of incorporating financial information as extracted from the Panva Gas Accounts and the Changchun Listed Accounts into the Circulars, the Companies have applied to the Stock Exchange for a further delay in despatch of the Circulars from 20 April 2005 to 25 April 2005. The Companies confirm that the Circulars will be despatched to their respective shareholders on 25 April 2005 and that the notice of EGM of the shareholders of Panva Gas will also be published on 25 April 2005. Reference is made to the joint announcement of Sinolink and Panva Gas dated 27 August 2004 in relation to an acquisition of interests in Changchun Gas Holdings (the "Joint Announcement") and the joint announcements of Sinolink and Panva Gas dated 20 September 2004, 13 October 2004, 29 November 2004, 30 December 2004, 25 January 2005, 1 March 2005 and 24 March 2005 in relation to the delay in despatch of their respective circulars to shareholders (the "Circulars"). Unless otherwise defined, capitalised terms used herein shall have the same meaning as defined in the Joint Announcement. Panva Gas announced its annual results for the year ended 31 December 2004 on 17 March 2005 and the full set of accounts (the "Panva Gas Accounts") in relation to such annual results were published and despatched to its shareholders on 31 March 2005. Changchun Listed announced its annual results for the year ended 31 December 2004 and despatched its full set of accounts on 8 April 2005 (the "Changchun Listed Accounts"). Both the Panva Gas Accounts and the Changchun Listed Accounts contained financial information that was material for the purpose of incorporation into the Circulars. Since both Sinolink and Panva Gas (the "Companies") required additional time for the purpose of incorporating financial information as extracted from the Panva Gas Accounts and the Changchun Listed Accounts into the Circulars, the Companies have applied to the Stock Exchange for a further delay in despatch of the Circulars from 20 April 2005 to 25 April 2005. In such circumstances, the Companies have applied to the Stock Exchange for a waiver (which may or may not be granted) from strict compliance with Rule 14.38 of the Listing Rules (in relation to Sinolink) and Rule 19.38 of the GEM Listing Rules (in relation to Panva Gas) so as to postpone the despatch of the Circulars from 20 April 2005 to 25 April 2005. The Companies confirm that the Circulars will be despatched to their respective shareholders on 25 April 2005 and that the notice of an extraordinary general meeting ("EGM") of the shareholders of Panva Gas will also be published on 25 April 2005. By order of the Board By order of the Board Sinolink Worldwide Holdings Limited Panva Gas Holdings Limited TANG Yui Man, Francis CHEN Wei Chief Executive Officer Managing Director Hong Kong, 22 April 2005