| The board of directors (the "Board") of Sinolink Worldwide Holdings Limited (the "Company") noted the recent increases in the price and the trading volume of the shares of the Company and wish to clarify as below. |
The Board has noted the recent increases in the price and the trading volume of the shares of the Company and wish to state that we are not aware of any reasons for such increases save as disclosed below.
Save as disclosed on 10th January, 2000, we confirm that China Pan River Group Ltd. ("CPR"), a wholly-owned subsidiary of the Company principally engaged in the production, transportation, storage, sale and distribution of liquid petroleum gas in the People's Republic of China, is building on its existing customer base, retail network and distribution channel to expand into electronic commerce ("e-commerce"). CPR is studying the feasibility and negotiating with certain independent parties in developing e-commerce including business-to-customer and business-to-business nature. CPR will use its website to promote its products and the products of other e-commerce operators. In addition, CPR will use its existing distribution channel, distributing system and settlement and delivery system to provide service to other e-commerce operators. The Board wishes to advise that the said proposal is at a preliminary stage and the Company may or may not proceed with the proposal.
Save as disclosed above, we confirm that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under paragraph 3 of the Listing Agreement, neither is the Board aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price-sensitive nature.
Made by the order of the Board of the Company, the directors of which individually and jointly accept responsibility for the accuracy of this statement.
By Order of the Board
OU YAPING
Chairman
Hong Kong, 18th February, 2000
Website: http://www.irasia.com/listco/hk/sinolink
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