Sinopec appoints four financial advisors to support the estructuring of its marketing segment

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(Beijing, 24 April 2014) China Petroleum & Chemical Corporation ("Sinopec") announced today that it has selected the financial advisors for the restructuring of Sinopec Sales Co., Ltd. and introducing social and private capital to realize diversified ownership. Based on the outcomes of evaluation, Sinopec appointed China International Capital Corporation Limited, Deutsche Bank AG, CITICSecurities Company Limited and Bank of America as the financial advisors to this project.

Since its announcement on 19 February, 2014, multiple international and domestic investment banks have expressed interest to participate in Sinopec's restructuring of its marketing segment.

On 11 April 2014, the Company held an introductory meeting for the competitiveselection of the financial advisors, at which the Company introduced the details inrelation to the selection of the financial advisors and distributed the Request for Pitchas Financial Advisors for the Project to certain domestic and overseas investmentbanks which had expressly indicated their intention to participate in this restructuring. On 15 April, all interested banks submitted their proposals before the deadline.

This selection process abided by the principles of fairness, justice, openness and transparency, adopting a quantitative assessment approach that involved two stages of preliminary review and final evaluation. The evaluation panel consisted of certain independent non-executive directors, independent supervisors and relevant divisions' leaders of Sinopec. The senior management team of Sinopec Group did not participate in the assessment.

The evaluation process was also witnessed by Sinopec's external legal counsel and supervised by the company's disciplinary department.

Sinopec will abide by all the relevant regulations domestically and overseas and disclose any necessary information in a timely manner.

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About China Petroleum & Chemical Corporation

Sinopec is one of the largest integrated energy and chemical companies with upstream, midstream and downstream operations in China. Its principal operations include: the exploration and production, pipeline transportation and sales of petroleum and natural gas; the sales, storage and transportation of petroleum products, petrochemical products, synthetic fiber, fertilizer and other chemical products; import & export, as well as import and export agency business of oil, natural gas, petroleum products, petrochemical and chemical products, and other commodities and technologies; and research, development and application of technologies and information.

Adhering to its corporate mission of "Enterprise development, Contribution to the Country, Shareholder value creation, Social responsibility and Employee wellbeing", Sinopec implements strategies of resources, markets, integration, internationalization, differentiation and green low-carbon development with a view to realize its vision of building a world first class energy and chemical company.

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