News Release

Announcement On Extraordinary General Meeting (EGM) - Acquisition Of 33% interest in Shanghai Pudong International Airport Aviation Fuel Supply Corporation Ltd (The Acquisition)

The Directors of China Aviation Oil (Singapore) Corporation Ltd (the "Company") are pleased to announce that at the EGM of the Company held at 11a.m on 23 September 2002, all the ordinary resolutions relating to the Acquisition (as set out in the Notice of the EGM dated 30 August 2002) have been duly passed without amendments.

By Order of the Board

Adrian Chang
Company Secretary
23 September 2002