Sinopec Corp. to Finance Refining and Gas Projects.

The article reports that the board of directors of China Petroleum & Chemical Corp. has agreed the issuance of convertible bonds with detachable warrants and the issuance of domestic corporate bonds. It intends to issue up to 30 billion renminbi convertible bonds with detachable warrants to institutional investors and the public investors. The proposals are subject to approval by the Extraordinary General Meeting of the company and relevant authorities to be held on November 15, 2007.