Countdown to Exercise of Sinochem Warrant

On November 20, Sinochem published special public notice for exercise of Sinochem CWB1 subscription warrant, the exercise period of Sinochem CWB1 subscription warrant (warrant code: 580011, exercise code: 582011) is during 5 transaction days from December 11 to 17, 2007.

The exercise price of Sinochem CWB1 subscription warrant after dividend interest deducting adjustment is 6.52 per share; exercise ratio is 1:1. For each subscription warrant held by investors, the investor is entitled to subscribe one Sinochem share (code 600500) at 6.52Yuan/share within the five transaction days from December 12 to 17, 2007. Shares acquired after successful exercise can be traded in the next transaction day.

On the termination day of subscription warrant exercise, unexercised subscription warrants will be revoked, by which time the warrant will have no value. On November 19, closing price of Sinochem s underlying stock was 19.78Yuan/share, and the closing price of Sinochem CWB1 subscription warrant was 12.710Yuan per share.