Stock Code: 200053   Short Form of Stock: Shenzhen Base (B Share)    No.: 2004-019

                      SHENZHEN CHIWAN PETROLEUM SUPPLY BASE CO LTD
        Resolution of the 1st Session of the 4th Supervisory Committee Meeting

    The Supervisory Committee of Shenzhen Chiwan Petroleum Supply Base Co Ltd has 
held a meeting in 16th floor, Chiwan Petroleum Building, Shenzhen, PRC on May 25th
 2004. All supervisors attended the meeting. It was in conformity with the Company
 Law and the Articles of Association of the Company and the resolution of electing
 Mr Zhong Jing Shen as the Convener of the fourth Supervisory Committee was passed.

                                      Shenzhen Chiwan Petroleum Supply Base Co Ltd
                                             By Order of the Supervisory Committee
                                                                Dated: 26 May 2004