China Oilfield Services Limited Appoints Alan Good as Vice President

(June 26, 2003 - Beijing) China Oilfield Services Limited ("COSL"; SEHK: 2883) is pleased to announce that Mr. Alan Good and his two colleagues will join COSL on July 1, 2003. Mr. Good has been appointed as a Vice President of COSL.

Mr. Good and his two colleagues from Baker Hughes bring a wealth of experience in international oilfield services to COSL. Collectively they have over 70 years of experience in oilfield services and have also worked in various regions, cultural backgrounds and environments. COSL believes that the selection of high-caliber people, like Mr. Good and his two colleagues, would assist COSL in entering the international market more efficiently and effectively. COSL is confident that the three individuals will make strong contributions to the company.

Mr. Good has 23 years of experience in oilfield services, focusing on technical promotion, market development and regional business management. Most recently, Mr. Good has served as the Eastern Hemisphere Regional Business Manager for Baker Hughes in the Asia Pacific Region and specialized in bidding and management of integrated projects and promotion of new oilfield services technologies.

Mr. Ming Chu has 26 years of working experience in the oilfield services sector. Prior to joining COSL, he was the Northern Asia Regional Business Development Manager for Baker Hughes.

Mr. Lim Hong Khun has 24 years of experience in oilfield services. He was previously the Asia-Pacific Regional Business Development Manager for Baker Hughes.

Mr. Good said, I look forward to serving COSL. I am hopeful that my prior experience will allow me to contribute in a positive way for COSL to further capture market share and to create even greater shareholder value.

Mr. Fu Chengyu, Chairman of COSL, commented: As always, we are committed to recruiting the best personnel in our business and continue to focus on creating shareholder value. We are pleased to bring in the knowledge and experience of Mr. Good, Mr. Chu and Mr. Lim, and we warmly welcome them to the COSL team. Their experience in the international oilfield services industry will be a valuable asset to the Company s ongoing development.

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