Contact:	Shiu Ka Yue, Zelda Yung	March 16, 2001
Tel:	2801-6198, 2801-7761

Shares in Global Bio-chem Technology Group Company Limited ("Global Bio-chem" or the "Company", stock code: 809) closed today at HK$0.84 per share on their first day of trading on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

Global Bio-chem's shares were traded within a range of HK$ 1.08 to HK$ 0.81 per share. Approximately 96.80 million Global Bio-chem shares changed hands, representing a total turnover of approximately HK$ 89.62 million.

Global Bio-chem shares became listed on the Main Board of the Stock Exchange through a placing and public offer of 320 million new shares at HK$1.02 per share in early March, 2001. Of the total 320 million new shares, 32 million shares were offered for public subscription and 288 million shares were placed to institutions and corporate investors. The Company's public offer of 32 million new shares (excluding the over-allotment option) were approximately subscribed three times.

Cargill Inc. (and/or any of its wholly owned subsidiaries, "Cargill"), a leading agricultural and food company, has subscribed for a total of 7.5 million shares in Global Bio-chem, representing 2.34 per cent of the Company's new issue and placing shares, for a total consideration of approximately HK$7.73 million. Cargill has agreed with the Company not to dispose of the shares held by Cargill without the Company's prior written consent during the six-month period following the Global Bio-chem's listing on the Stock Exchange.

Cheung Kong (Holdings) Limited (and/or any of its wholly owned subsidiaries, "Cheung Kong"), has subscribed for a total of 64 million shares in Global Bio-chem at HK$1.02 per share, representing 20 per cent of the Global Bio-chem's new issue and placing shares and 5 per cent of the issued share capital of Global Bio-chem immediately after listing of its shares. It is also Cheung Kong's intention not to dispose of the Company's share held by Cheung Kong, during the six-month period following the Company's listing on the Stock Exchange.

Cargill has entered into an option agreement, pursuant to which Cargill has been granted an option to subscribe for 5,600,000 shares at an exercise price of HK$1.40 per share and to subscribe for a further 5,600,000 shares at an exercise price of HK$1.80 per share after a 12-month and a 18-month periods respectively from the date of the listing of Global Bio-chem's shares on the Stock Exchange.

The Company has also executed a conditional option deed dated March 6, 2001 in favour of Cheung Kong (Holdings) Limited. Under the option deed, Cheung Kong (Holdings) Limited has been granted an option to subscribe for 32,000,000 shares in Global Bio-chem at an exercise price of HK$1.40 per share, exercisable after a 12-month period from the Company's listing, and an option for the subscription of a further 32,000,000 shares at an exercise price of HK$1.80 per share exercisable after a 18-month period.

"Global Bio-chem possesses a dominant position in the development and manufacturing of corn-based biochemical products and corn refined products. We expect that a further increase in our market share in China and the Asian Pacific region will further strengthen our growth momentum," said Mr. Liu Xiaoming, Chairman of Global Bio-chem at today's listing ceremony.

Global Bio-chem is principally engaged in the research and development, manufacturing and sales of a wide range of corn based biochemical products and corn refined products. It is currently the largest China-based producer of lysine, a widely used amino acid, with an output capacity of 15,000 tonnes per annum. The Company is also one of the leading manufacturers of corn sweeteners and one of the top three corn refining manufacturers in China.

Deloitte & Touche Corporate Finance Ltd is the sponsor of the Company's initial public offer, and GC Capital (Asia) Limited is the bookrunner and lead underwriter of the Company's placing and public offer.

Issued by: Global Bio-chem Technology Group Company Limited

Through : CorporateLink Limited