SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                         PRINTED: 09/08/02  PAGE:   1
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - B
                                                            (GRANTS, ASSIGNMENTS AND EXERCISES OF RIGHTS)

 STOCK NAME : Xinao Gas Hold                 (08149)

       Director/Chief Executive        G/E     Class                 Company Name                 Quantity       Exercise Period   Ex. Price  Consideration       Note
 ------------------------------------  --- ---------------  -------------------------------  ------------------  ---------------  ---------- ---------------  -----------
 CHEUNG YIP SANG                        G  OPT              XINAO GAS HOLDINGS LIMITED              1,500,000    310702-310312        2.625                1             

                                                                     *****  END OF REPORT  *****

NOTES

N1      Consideration per unit $1.06 - $1.07

N2      Appointed as an executive director of the company on 10 April 2002.