Largo Vista -Crown Jewel of China 1998 and Beyond! LGOV Message Board

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Microcap & Penny Stocks : Largo Vista -Crown Jewel of China 1998 and Beyond! LGOV

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To: jmhollen who wrote (275)	7/4/2000 4:56:22 PM
From: jmhollen	Read Replies (1) of 295

PetroChina has no plan for issuing additional shares Tuesday, July 04, 2000 Homeway PetroChina will strictly keep to its promise that the company will not issue any new shares in the overseas capital markets within 12 months from its initial public offering (IPO), said Cao Zhengyan, spokesman for PetroChina Co Ltd. Cao also said in a statement issued today that there were some errors in the reports recently released by some media about the remarks made by Wu Jinglian, an independent director of PetroChina, at a seminar held in Beijing. Wu a1so made a persona1 statement on the Internet on June 29 to c1arify those errors. In his statement, Wu said that he made his remarks at the seminar from the ang1e of an economist. He did not refer particu1ar1y to PetroChina when he said that the proportion for the government-owned shares should be cut to deepen reforms of the state-owned enterprises. Wu on1y suggested that the state ownership of PetroChina be reduced in the next three to five years. China Nationa1 Petro1eum Corporation also pledged that it will strict1y stick to its promise that it will not sell its shares at the internationa1 market within 12 months from PetroChina's IPO. Copyright © 2000 Beijing Homeway Info.Media Ltd. All Rights Reserved.

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