China Aviation Oil (Singapore) Corporation Ltd (the "Company") refers to the announcement by the Company on 30 November 2004 in relation to the proposed scheme of arrangement with its creditors for the settlement of all existing debts and liabilities (the "Proposed Scheme").

The Company wishes to announce that it has today appointed Deloitte & Touche Financial Advisory Services Pte Ltd as the financial adviser to advise the Company in connection with the Proposed Scheme.