09:39     SHANGHAI PECHEM<00338> - Announcement (3)                           

    Shanghai Listing Rules.                                                   
                                                                              
    DEFINITIONS                                                               
    `Company'                      Sinopec Shanghai                           
                                   Petrochemical Company                      
                                   Limited, the H shares of                   
                                   which are listed on the Stock              
                                   Exchange (Stock Code: 338),                
                                   the American Depositary                    
                                   Shares of which are listed on              
                                   the New York Stock Exchange,               
                                   and includes the subsidiaries              
                                   of the Company except where                
                                   the context otherwise                      
                                   requires                                   
    `connected person'             shall have the meaning                     
                                   ascribed to it in the Hong                 
                                   Kong Listing Rules and                     
                                   Shanghai Listing Rules                     
    `Directors'                    the directors of the Company               
                                   including independent                      
                                   non-executive directors                    
    `Jin Shan'                     China Jin Shan United Trading              
                                   Company Limited, a limited                 
                                   liability company established              
                                   in October 1981 in the PRC                 
    `Hong Kong'                    Hong Kong Special                          
                                   Administrative Region of the               
                                   PRC                                        
    `Hong Kong Listing Rules'      Rules Governing the Listing                
                                   of Securities on The Stock                 
                                   Exchange of Hong Kong Limited              
    `PRC'                          The People's Republic of                   
                                   China                                      
    `RMB'                          Renminbi, the lawful currency              
                                   of the PRC                                 
    `Sale and Purchase Agreement'  The Shanghai City Asset                    
                                   Transfer Agreement entered                 
                                   into between, inter alia, the              
                                   Company and Sinopec                        
                                   International.                             
    `Shanghai Listing Rules'       Rules Governing the Listing                
                                   of Securities on the Shanghai              
                                   Stock Exchange                             
    `Shanghai Overseas'            Shanghai Overseas Enterprise               
                                   Corporation, a limited                     
                                   liability company established              
                                   in the PRC                                 
    `Sinochem'                     China National Chemical                    
                                   Import & Export Corporation,               
                                   a limited liability company                
                                   established in the PRC                     
    `Sinopec Corp.'                China Petroleum & Chemical                 
                                   Corporation, a company                     
                                   organised in the PRC and                   
                                   listed on the Main Board of                
                                   the Stock Exchange (Stock                  
                                   code: 386) as well as in New               
                                   York, London and Shanghai                  
    `Sinopec Group'                Sinopec Corporation, a wholly              
                                   State-owned company organised              
                                   in the PRC                                 
    `Sinopec International'        Sinopec International Company              
                                   Limited, a limited liability               
                                   company established in the                 
                                   PRC                                        
                                                                              
                                   By Order of the Board                      
                                   Zhang Jingming                             
                                   CompanySecretary                           
                                                                              
    Shanghai, 28 April 2005                                                   
                                                                              
    As at the date of this announcement, the executive directors of the       
    Company are Lu Yiping, Rong Guangdao, Du Chonyjun, Han Zhihao, Wu         
    Hajun and Gao Jinping; the non-executive directors of the Company are     
    Liu Wenlong and Zhang Baojian, and the independent non-executive          
    directors of the Company are Gu Chuanxun, Wang Yongshou, Wang Xingyu      
    and Chen Xinyuan.