10:55     SHANGHAI PECHEM<00338> - Announcement (5)                           

                      Limited,  on 31   7                                     
                       an      December 9                                     
                      associat                                                
                      e of     2007                                           
                      China                                                   
                      Petroche                                                
                      mical                                                   
                      Corporat                                                
                      ion                                                     
                                                                              
                                                                              
                                                                              
    2.2                                                                       
    Connected Parties and their Relationships                                 
    China Petroleum & Chemical Corporation holds approximately 55.56%         
    equity interest of the Company's issued share capital and is the          
    controlling shareholder of the Company. China Petrochemical               
    Corporation is the ultimate parent of the Company. Certain                
    information regarding China Petroleum & Chemical Corporation and          
    China Petrochemical Corporation is set out as follows:                    
                                                                              
    Name of company:     China Petroleum &    China Petrochemical             
                         Chemical             Corporation                     
                         Corporation                                          
    Registered address:  No.A6 Hui Xin East   No.A6 Hui Xin East              
                         Street, Chaoyang     Street, Chaoyang                
                         District, Beijing,   District, Beijing,              
                         PRC                  PRC                             
    Company type:        Joint stock limited  Group Company                   
                         company                                              
                         (listed)                                             
    Authorized           Chen Tonghai         Chen Tonghai                    
    representative:                                                           
    Date of              25 February 2000     August 1998                     
    incorporation:                                                            
    Term of operation:   Permanent and        Permanent and                   
                         renewable            renewable term                  
                         term                                                 
    Registered capital:  RMB86,702,439,000    RMB104,900,000,000              
     Principal                                Exploring for,                  
    operation:                                extracting and                  
                                              selling crude oil               
                                              and natural gas;                
                                              pipe transportation             
                                              of crude oil and                
                                              natural gas; oil                
                                              refining;                       
                                              production, sale                
                                              and transportation              
                                              of petrochemical,               
                                              fibre and other                 
                                              chemical products,              
                                              wholesaling,                    
                                              retailing, storage              
                                              and transportation              
                                              of oil products and             
                                              other petroleum                 
                                              products; operation             
                                              of convenience                  
                                              stores; production              
                                              of electricity;                 
                                              production and                  
                                              installation of                 
                                              machineries; design             
                                              and construction;               
                                              purchase and sale               
                                              of raw materials,               
                                              coal, equipment and             
                                              apparatus;                      
                                              production and                  
                                              management of                   
                                              equipment;                      
                                              research,                       
                                              development and                 
                                              application of                  
                                              technologies and                
                                              information; import             
                                              and export                      
                                              business; transfer              
                                              of technology and               
                                              labor.