10:03     SINOPEC BEIJING YANHUA PETROCHEMICAL CO. LTD.<00325>-Ann.(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.               
                                                                              
    SINOPEC BEIJING YANHUA PETROCHEMICAL COMPANY LIMITED                      
    (A joint stock limited company incorporated in the People's Republic      
    of China with limited liability)                                          
    (Stock code: 0325)                                                        
                                                                              
    WITHDRAWAL OF THE BEIJING YANHUA LISTING                                  
                                                                              
    Financial Adviser to Beijing Yanhua                                       
                                                                              
    Bear Stearns Asia Limited                                                 
                                                                              
    Independent Financial Adviser to the Independent Board Committee of       
    Beijing Yanhua                                                            
                                                                              
                                                                              
    Lehman Brothers Asia Limited                                              
                                                                              
                                                                              
    The Beijing Yanhua Directors would like to announce that the              
    listing of the Beijing Yanhua H Shares will be withdrawn from the         
    Stock Exchange with effect from 9:30 a.m. on Wednesday, 11 May 2005.      
    The listing of the Beijing Yanhua ADSs will be withdrawn from the         
    NYSE on or about Monday, 16 May 2005 (United States Eastern Standard      
    Time).                                                                    
                                                                              
    Cheques for payment of the Merger Consideration are expected to be        
    despatched to the Beijing Yanhua H Shareholders of Beijing Yanhua         
    other than the Dissenting Beijing Yanhua Shareholders (the                
    `Qualifying Shareholders') on or before Tuesday, 17 May 2005, but in      
    any event within 10 days from the date of the withdrawal of the           
    Beijing Yanhua Listing. Following payment of the Merger Consideration     
    to the Bank of New York, Beijing Yanhua intends to terminate the          
    registration of its ADSs with the SEC under the Securities Exchange       
    Act of 1934 on account of the fact that the ADSs will be owned by         
    less than 300 holders in the United States.                               
                                                                              
                                                                              
    This announcement is made further to:                                     
    (a)                                                                       
    the joint announcement dated 29 December 2004 and made by Beijing         
    Yanhua and Sinopec Corp. in which it was stated that a proposal would     
    be put forward to Beijing Yanhua Shareholders regarding the proposed      
    privatisation of Beijing Yanhua through Beijing Feitian by way of         
    merger by absorption of Beijing Yanhua under Article 184 of the PRC       
    Company Law at the cancellation price of HK$3.80 per Beijing Yanhua H     
    Share;                                                                    
                                                                              
    (b)                                                                       
    the composite document issued jointly by Beijing Yanhua and Sinopec       
    Corp. on 17 January 2005 (the `Circular'); and                            
                                                                              
    (c)                                                                       
    the announcement issued by Beijing Yanhua on 14 April 2005 in which       
    it was stated that all Conditions (except, that the 90-day creditors'     
    notice period has not yet expired and that filings for increasing the     
    registered capital of Beijing Feitian and for de-registration of          
    Beijing Yanhua with Beijing AIC had yet to be made) had been              
    fulfilled, including the obtaining of all the PRC Approvals.              
                                                                              
    Capitalised terms used in the announcement shall have the same            
    meanings as those defined in the Circular unless the context herein       
    requires otherwise.                                                       
                                                                              
    WITHDRAWAL OF BEIJING YANHUA LISTING                                      
                                                                              
    Beijing Yanhua has made filing for de-registration with Beijing AIC       
    on 25 April 2005 and expects that the effective date of                   
    de-registration of Beijing Yanhua would fall on 7 June 2005. NYSE has     
    made proper filing with the SEC to withdraw the listing of Beijing        
    Yanhua ADSs on the NYSE on 5 May 2005. The period during which            
    creditors may request Beijing Yanhua and Beijing Feitian to pay off       
    their respective indebtedness is expected to end on 7 June 2005.          
                                                                              
    The Beijing Yanhua Directors would like to announce that the listing      
    of the Beijing Yanhua H Shares will be withdrawn from the Stock           
    Exchange with effect from 9:30 a.m. on Wednesday, 11 May 2005. The        
    listing of the Beijing Yanhua ADSs will be withdrawn from the NYSE on     
    or about Monday, 16 May 2005 (United States Eastern Standard Time).       
                                                                              
                                                                              
    DESPATCH OF CHEQUES FOR PAYMENT OF MERGER CONSIDERATION                   
                                                                              
    Cheques for payment of the Merger Consideration are expected to be        
    despatched to the Qualifying Shareholders on or before Tuesday, 17        
    May 2005, but in any event within 10 days from the date of the            
    withdrawal of the Beijing Yanhua Listing. Following payment of the        
    Merger Consideration to the Bank of New York, Beijing Yanhua intends