【Yau,Huan-Jin, reported at Taipei】2005/10/18 Commercial Times 
The governmental review for the proposal of changed land utilization for Kuo Kuang PetroChemical Project is done. If all shareholders have no other comments by Oct.20, this project will enter the next phase to finalize the details of the JV agreement. Then, the Kuo Kuang PetroChemical Crop. is expected to begin operation in the end of November, 2005. In this proposal, it indicated the total investment increases from US$ 11 billions to US$ 12 billions, mainly due to the changes of land size and orientation, which resulted in a huge increase of the investment required for the land acquisition. The Chinese Petroleum Corporation, the leading investor of the project, also presented a complete report to other major shareholders of Kuo Kuang PetroChemical Crop. This report fully covered the ROI and the future investment plan regarding Kuo Kuang PetroChemical Crop. The possibility of UAE’s investing in this project is also considered. All shareholders have reached the agreement that once UAE has confirmed its investment the new share holding distribution will be rearranged on the basis of the current share proportion.