A Share Issue 4

Air China Ld
08 August 2006

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents
of this announcement, makes no representation as to its accuracy or completeness
and expressly disclaims any liability whatsoever for any loss whatsoever arising
from or in reliance upon the whole or any part of the contents of this
announcement.





                               AIR CHINA LIMITED

(a joint stock limited company incorporated in the People's Republic of China
                            with limited liability)

                               (Stock Code: 753)


         Determination of Offer Size and Offer Price for A Share Issue


SUMMARY


Pursuant to the A Share Issue, the Company will issue 1,639,000,000 A Shares at 
the offer price of RMB2.80 per share.


Reference is made to the announcement dated 31 July 2006 in respect of the CSRC
approval of the A Share Issue and the announcement dated 3 August 2006 in
respect of the determination of indicative price range for the A Share Issue.


Pursuant to the A Share Issue, the Company will issue 1,639,000,000 A Shares at
the offer price of RMB2.80 per share.


DEFINITIONS


In this announcement, unless the context otherwise requires, the following terms
shall have the following meanings:


'A Shares'                   the Domestic Shares which are proposed to be
allotted and issued by the Company to qualified institutional investors as
approved by CSRC and investors including domestic individuals, legal persons and
etc. who have opened accounts at the Shanghai Stock Exchange (except those
prohibited from subscribing for the shares by the applicable laws and
regulations at the time of the A Share Issue) and listed on the Shanghai Stock
Exchange


'A Share Issue'              the proposed issue of not more than 2.7 billion
A Shares by Company to qualified institutional investors as approved by CSRC and
investors including domestic individuals, legal persons and etc. who have opened
accounts at the Shanghai Stock Exchange (except those prohibited from
subscribing for the shares by the applicable laws and regulations at the time of
the A Share Issue), which are proposed to be listed on the Shanghai Stock
Exchange


'Company'                    Air China Limited, a company incorporated in the
People's Republic of China with primary listing on The Stock Exchange of Hong
Kong Limited and secondary listing on the Official List of the UK Listing
Authority


'CSRC'                       China Securities Regulatory Commission 


'Director(s)'                the director(s) of the Company


'Domestic Shares'            the ordinary shares of RMB1.00 each issued by the
Company, which are subscribed for or credited as fully paid up in Renminbi


'PRC'                        the People's Republic of China, excluding, for the 
purpose of this announcement only, Hong Kong, Macau and Taiwan


'RMB'                        Renminbi, the lawful currency of the PRC



                             By order of the Board

                               Air China Limited

                           Zheng Baoan    Li Man Kit

                           Joint Company Secretaries



Beijing, 8 August 2006



As at the date of this announcement, the Directors of the Company are Messrs Li
Jiaxiang, Kong Dong, Wang Shixiang, Yao Weiting, Christopher Dale Pratt, Ma
Xulun, Cai Jianjiang, Fan Cheng, Hu Hung Lick, Henry*, Wu Zhipan*, Zhang Ke* and
Jia Kang*.



*  Independent non-executive Director of the Company


                      This information is provided by RNS
            The company news service from the London Stock Exchange