10:24     XIN CORP<01141> - Announcement (2)                                  

    Original counter for trading in Consolidated Shares                       
    in new board lot of 8,000 Consolidated Shares (in the                     
    form of new yellow share certificates) re-opens                           
    9:30 a.m. on Tuesday, 7th June                                            
                                                                              
    Parallel trading in Consolidated Shares (in the form                      
    of new yellow and existing orange share certificates)                     
    commences   9:30 a.m. on Tuesday, 7th June                                
                                                                              
    Designated broker starts to stand in the market to                        
    provide matching services for odd lots of shares                          
    Tuesday, 7th June                                                         
                                                                              
    Temporary counter for trading in Consolidated Shares                      
    in board lot of 200 Consolidated Shares (in the form                      
    of existing orange share certificates) closes                             
    4:00 p.m. on Tuesday, 28th June                                           
                                                                              
    Parallel trading in Consolidated Shares (in the form                      
    of new yellow and existing orange share certificates)                     
    ends   4:00 p.m. on Tuesday, 28th June                                    
                                                                              
    Designated broker standing in the market to provide                       
    matching services for odd lots of shares ends                             
    Tuesday, 28th June                                                        
                                                                              
    Free exchange of existing orange share certificates                       
    for new yellow share certificates ends                                    
    Tuesday, 5th July                                                         
                                                                              
    Note:   All times in this announcement refer to Hong                      
    Kong times.                                                               
                                                                              
    TRADING ARRANGEMENTS                                                      
                                                                              
    Upon the Capital Reorganisation becoming effective,                       
    all existing orange share certificates for any number                     
    of Existing Shares in issue immediately before the                        
    effective date will be deemed to be certificates, and                     
    will be effective as documents of title, for one                          
    twentieth of that number of Existing Shares. New share                    
    certificates (which will be yellow in colour) will                        
    be issued for Consolidated Shares. Parallel trading                       
    arrangements will be established on the Stock Exchange                    
    for dealings in Consolidated Shares in the form of                        
    the existing orange share certificates and in the form                    
    of the new yellow share certificates. The trading                         
    arrangements proposed for dealings in Consolidated                        
    Shares are set out as follows:                                            
                                                                              
    (i)   with effect from 9:30 a.m. on Tuesday, 24th May, 2005,              
    the original counter for trading in Existing                              
    Shares in existing board lot of 4,000 Existing Shares                     
    will close temporarily. A temporary counter for                           
    trading in Consolidated Shares represented by                             
    existing orange share certificates in board lot of                        
    200 Consolidated Shares will be established. Every                        
    existing certificate for whatever number of Existing                      
    Shares will be deemed to be a certificate, and will                       
    be effective as a document of title valid for                             
    settlement and delivery for trading transacted from                       
    9:30 a.m. on Tuesday, 24th May, 2005 to 4:00 p.m. on                      
    Tuesday, 28th June, 2005 for Consolidated Shares, in                      
    the amount equivalent to one twentieth of that number                     
    of Existing Shares. The existing orange share                             
    certificates for Existing Shares can only be traded                       
    at this temporary counter;                                                
                                                                              
    (ii)   with effect from 9:30 a.m. on Tuesday, 7th June, 2005,             
    the original counter will re-open for trading in                          
    Consolidated Shares in new board lot of 8,000                             
    Consolidated Shares. Only new yellow share                                
    certificates for Consolidated Shares can be traded                        
    at this counter;                                                          
                                                                              
    (iii)   with effect from 9:30 a.m. on Tuesday, 7th June, 2005             
    to 4:00 p.m. on Tuesday, 28th June, 2005 (both dates                      
    inclusive), there will be parallel trading at                             
    the counters mentioned in (i) and (ii) above; and