Announcement on the Resolution of the 19^th Meeting,

the Third Board of Directors, Sinochem International Corporation

 

[Note]

Sinochem International Corporation. and the members of its Board of Directors hereby undertake that the information disclosed here is truthful, accurate and complete. Sinochem International Corporation and its Board of Directors take the joint responsibility to guarantee that this announcement contains no false statement, misrepresentation or major omission.

 

The 19^th Meeting of the Third Board of Directors, Sinochem International Corporation (to be referred to hereafter as the Corporation) was held on Dec. 29^th, 2005 in the headquarter building of Sinochem Corporation in Beijing. 10 members of the Board of Directors shall attend this conference and 9 were present. The number of members who were present surpassed 50% of the population of the Board of Directors. Procedures of the meeting were in accordance with the "Company Law", "Constitution of Sinochem International Corporation"and "Regulations of the Board of Directors". The board of directors approved the following resolution based on serious discussions.

 

1. The Board of Directors approves the Resignation of Mr. FU Bo from the position of General Manager of the corporation for position transference.

2. The Board of Directors approves the appointment of Mr. XU Weihui as General Manager of the corporation.

 

All the independent members of the Board of Directors have made declaration in favor of this major personnel change in the corporation.

 

The Board of Directors hereby made this announcement.

 

 

Board of Directors, Sinochem International Corporation

December 30^th, 2005

 

 

 

Mr. XU Weihui, CPA, born in 1970, achieved his MBA Degree in the Business School, Remin University of China. Mr. Xu worked as the Deputy General Manager of Financial Department, China National Chemicals Import and Export Corporation Co. Ltd. , Member of the Supervisory Committee, China United Petroleum Corporation Co. Ltd., Member of the Supervisory Committee, China United Petroleum & Chemical International Co. Ltd., Member of the Financial Committee, Board of Directors, West Pacific Petrochemical Co. Ltd., Dalian, Member of the Second Board of Directors of the corporation, Deputy General Manager and Chief Financial Official of the corporation, and General Manager of Sinochem Hebei Import & Export Co., Ltd..