Hong Kong, 28 July 2005 ¨C Trading in the shares of Sinochem Hong Kong Holdings Limited ("Sinochem Hong Kong") (SEHK Code:0297) commenced today on the Main Board of The Stock Exchange of Hong Kong Limited after it completed the acquisition of the fertilizer business from its substantial shareholder. Shares closed at HK$1.44 per share.

Mr. Liu Deshu, Chairman, said, "With the successful acquisition of our fertilizer business, Sinochem Hong Kong has become the flagship listed overseas vehicle of Sinochem Corporation, a Fortune Global 500 Company. This marks a milestone in our corporate development. Sinochem Hong Kong intends to fully capitalize on the role of Hong Kong as an international financial hub and the existing capital platform for bringing our fertilizer business to the international equity markets, and maintaining a healthy and sustainable growth."

Sinochem Hong Kong will continue its investments in upstream production facilities and the expansion of its distribution network. Sinochem Hong Kong aims to maintain its market position as a leading fertilizer supplier in the People's Republic of China (PRC), and strives to become the largest fertilizer producer in the PRC, the largest agricultural country in the world.

"The involvement of the PRC government in the agricultural sector in recent years, together with a robust demand for quality fertilizer products, have created a positive operating environment for the fertilizer industry. By virtue of a vertically integrated business model comprised of upstream and downstream operations, a quality management team, sound financial fundamentals and strategic partnerships with internationally renowned enterprises, Sinochem Hong Kong is committed to realizing better growth opportunities and rewards for its shareholders," concluded Mr. Liu.

Sinochem Hong Kong Holdings Limited is an investment holding company, incorporated in Bermuda on 26 May 1994. Its ordinary shares have been listed on the Main Board of the Stock Exchange since 30 September 1996. At the time of listing, the name of the Company was Wah Tak Fung Holdings Limited. Sinochem Hong Kong (Group) Company Limited has been its single largest shareholder since February 2004. In May 2004, the Company's name was further changed to Sinochem Hong Kong Holdings Limited. In July 2005, the Company successfully acquired the fertilizer business from Sinochem Hong Kong (Group) Company Limited and become the flagship listed overseas vehicle of Sinochem Corporation, a Fortune Global 500 Company. Sinochem Hong Kong is currently a leading fertilizer enterprise in the PRC, and owns a vertically integrated business operation comprised of upstream and downstream operations.