SINGAPORE, 18 March 2004 - SGX Main Board-listed China Aviation Oil (Singapore) Corporation Ltd ("CAO") is pleased to announce that the Company will be added to the FTSE All-World Asia Pacific ex-Japan Index, a member of the FTSE Group, after the close of trading in Asian markets on 19 March 2004.

The FTSE Group, a joint-venture between the Financial Times and the London Stock Exchange, provides independent services including the creation and management of indices and associated data to investors and has a client base in 77 countries worldwide. FTSE indices are used extensively worldwide for investment analysis, performance measurement, asset allocation and to create index-tracking funds. Qualifying companies must satisfy selection criteria on the basis of market size, liquidity and free float. The FTSE All-World Asia Pacific ex-Japan Index covers countries like China, Taiwan, Australia, Korea, Hong Kong, India, Indonesia, Malaysia and Thailand.

Mr. Chen Jiulin, Managing Director and CEO of CAO, said: "We are glad that CAO has been accorded the FTSE All-World Asia Pacific ex-Japan Index status alongside other heavy-weight companies in the region such as Singapore Airlines and Daewoo International of South Korea. This is especially commendable when viewed against the backdrop of the War in Iraq and Severe Acute Respiratory Syndrome epidemic in 2003. It demonstrates the effectiveness of CAO's diversification strategy which will continue to propel the Company's presence in oil and gas-related sector internationally and regionally."

A total of 23 new stocks will be added to the index, bringing the number of Singapore-listed firms represented in the index to 88.

Media Contact Information

China Aviation Oil (Singapore) Corporation Ltd
Tel: 65-63348979; Fax: 65-6333 5283
John Casey, Dy. Head, Internal Audit & Investor Relations
or Jennie Liu, Investor Relations Manager
Email: john@caosco.com ; jennie@caosco.com

WeR1 Consultants Pte Ltd
Tel: 65-67374844; Fax: 65-67374944
Mona Leong or Lai Kwok Kin,
Email: monaleong@wer1.net ; laikkin@wer1.net


About China Aviation Oil (Singapore) Corporation Ltd ("CAO")

Listed on SGX in December 2001, CAO is leveraging on the rapidly growing Chinese aviation industry to become a global market player on the premise of its three-pronged strategy to stabilise and enhance profit streams. The only publicly listed entity of its parent company, China Aviation Oil Holding Company, a large state-owned aviation transportation logistics group, CAO is the centrepiece of CAOHC's strategy to expand into international markets and invest in the global oil-related industry.

CAO holds a 33% stake in Shanghai Pudong International Airport Aviation Fuel Supply Company Ltd (SPIA/AFSC), Pudong airport's sole jet fuel supplier and owner of its refuelling and storage facilities. It also has a strategic 5% stake with board representation in Compania Logistica de Hidrocarburos (CLH), Spain's leading oil carrier and owner of its largest network of oil pipelines and storage facilities. On 5 February 2004, the Company announced that it has purchased a 24.5%-stake in South China Bluesky Aviation Oil Co. Ltd from Fortune Oil Plc of the United Kingdom. Bluesky owns all jet fuel supply infrastructure in the 15 airports in Central and Southern China, and is the sole jet fuel supplier to all domestic Chinese and foreign airports in that region. Today, CAO trades globally in fuel oil, gas oil, crude oil, petrochemical products and oil derivatives and handles virtually 100% of China's total jet fuel imports. Annual sales revenue was S$2.43 billion in 2003 and market scope has expanded beyond China to ASEAN, the Far East and the USA.