RNS Number:7962K
Arko Energy Holdings PLC
07 May 2003

Press announcement



                            ARKO ENERGY HOLDINGS PLC



A formal charge has been made today, 7 May, against Mr. K.C.Chin, the Chairman
of the Company, and others, by the Independent Commission against Corruption in
Hong Kong (the "ICAC"). The charge alleges that Mr. Chin conspired with others
to "furnish information which to their knowledge was or might have been
misleading, false or deceptive" in contravention of Hong Kong law. Mr. Chin
believes that the charge arose out of the investigation launched by the ICAC in
2001 in relation to alleged offences committed by officers of the Sin Hua Bank.



At all times since the ICAC investigation started in or around June 2001, Mr.
Chin has maintained that any allegations of wrongdoing against him are without
foundation. Indeed Mr. Chin had been preparing a case to seek a judicial review
of the actions of the ICAC insofar as they related to him, a fact of which the
ICAC was aware.



Mr. Chin intends to contest vigorously the charges brought against him which he
believes are without merit. His firm conviction is that when the case is heard
in court, his innocence will be established and the allegations made against
him, which have had a damaging effect on his personal and professional
reputation, will finally be laid to rest.



The Company wishes to clarify that the charges have been brought against Mr.
Chin personally and do not relate in any way to the business of ARKO or any of
its subsidiaries.



The board of directors of the Company has confirmed that Mr. Chin will remain as
Chairman.



Further information will be made available in due course.




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