09:13     DAQING PECHEM<00362> - Announcement & Resumption (4)                

    "Group" the Company and its subsidiaries                                  
                                                                              
    "Hong Kong"     the Hong Kong Special Administrative                      
    Region of the PRC                                                         
                                                                              
    "HK$"   Hong Kong dollars                                                 
                                                                              
    "Liquidation Committee" *                                                 
    (Mudanjiang PVC Factory Liquidation Committee), a                         
    committee whose members are appointed by the                              
    Intermediate People's Court of Mudanjiang City,                           
    Heilongjiang Province on 29 May 2003 to oversee the                       
    liquidation of the PVC Factory by disposing the fixed                     
    assets and land use rights of the PVC Factory                             
                                                                              
    "Listing Rules" The Rules Governing the Listing of                        
    Securities on the Stock Exchange                                          
                                                                              
    "MDGC"  * (Mudanjiang Dongbei                                             
    Gaoxin Chemical Co., Ltd.), a wholly-foreign owned                        
    enterprise established in the PRC and is a                                
    wholly-owned subsidiary of Gold Capture Investments                       
    Inc. which is wholly-owned by the Company                                 
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "PVC"   polyvinyl chloride or vinyl                                       
                                                                              
    "PVC Factory"   * (Mudanjiang PVC Factory)                                
    which is located in Mudanjiang, Heilongjiang Province,                    
    the PRC                                                                   
                                                                              
    "RMB"   Renminbi Yuan, the lawful currency of the PRC                     
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong                   
    Limited                                                                   
                                                                              
    By order of the Board                                                     
    Daqing Petroleum & Chemical Group Limited                                 
    Chan Yuk Foebe                                                            
    Executive Director                                                        
                                                                              
    Hong Kong, 17 May 2005                                                    
                                                                              
    As at the date of this announcement, the Board                            
    comprises of Ms. Chan Yuk Foebe, Mr. Wang Hailou, Mr.                     
    Chu Ki and Mr. Peng Zhanrong, all being executive                         
    directors and Mr. Ma Wing Yun Bryan, Mr. Meng Fanxi                       
    and Mr. Yan Chung Hong, all being independent                             
    non-executive directors.                                                  
                                                                              
    * For the Chinese name, please refer to the press announcement today.