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Mr. Wang Jiming Met with Dr. HapkeApril 30, 2005

On April 29,2005, Mr. Wang Jiming, Vice Chairman of SINOPEC, met with Dr. Hapke, President of Market and Business Development Asia Pacific of BASF East Asia Regional Headquarters Limited and Vice Chairman of BOD of BASF-YPC Company Limited in Yangtze Guesthouse.

After the presentation made by Dr. Blumenberg, President of the Company, on the current status of commissioning and relevant work, both sides exchanged views on the current work on the IPS Project, recalled happily the smooth cooperation between SINOPEC and BASF on the IPS Project for the last three years, reiterated the deep concern and support to the IPS Project from the mother companies and finally expressed their earnest best wishes for the successful startup and commercial operation of the Company.

Leaders of some relevant departments of SINOPEC, Mr. Dai Houliang, BOD Chairman of Yangzi Petrochemical Corporation and BASF-YPC Company Limited, Dr. Blumenberg, President of BASF-YPC Company Limited, Mr. Li Chengfeng, Vice President of BASF-YPC Company Limited, also attended the meeting.

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