China Aviation Oil (Singapore) Corporation Limited (the "Company")

Singapore, 9 December 2004 - The Company would like to clarify the articles in Lianhe Zaobao on 9 December 2004.

The article "Chen Jiulin has been arrested" mentioned that Mr Jia Changbin, the Chairman of the Board, has surrendered his passport to the Commercial Affairs Department ("CAD"). This is incorrect - Mr Jia Changbin still holds his passport and has not surrendered it to the CAD.