Change of Adviser

Zhejiang Expressway Co
29 August 2005



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

                               (Stock code: 0576)

                          PROPOSED CHANGE OF AUDITORS


The Board announces that the Board has resolved to propose to the Shareholders
to appoint Deloitte as the new Hong Kong auditors of the Company until the
holding of the next annual general meeting of the Company in 2006.

The board of directors of the Company ('Board') announces that it has resolved
to propose to the shareholders of the Company ('Shareholders') to appoint
Deloitte Touche Tohmatsu ('Deloitte') as the new Hong Kong auditors of the
Company until the holding of the next annual general meeting of the Company in
2006.

The outgoing auditors of the Company, Ernst & Young ('EY'), has confirmed that
there were no circumstances leading to the termination of their appointment as
auditors which it considered ought to be brought to the attention of the
Company. EY will not be involved in the preparation of the audited financial
information of the Company for the financial year ended 31 December 2005.

To date, the directors of the Company are not aware of any matter that needs to
be brought to the attention of the Shareholders in relation to the proposed
change of auditors.

The decision to recommend Deloitte as the new auditors of the Company was
arrived at after an open bidding process by the Company that was participated by
a number of international qualifying auditing firms, including EY and Deloitte.
The Board would like to express its gratitude for EY's past services to the
Company.

A circular giving details of the proposed change of auditors of the Company will
be despatched with a notice of the extraordinary general meeting to the
Shareholders in due course. A further announcement will be made to announce the
results of the extraordinary general meeting regarding the appointment of
Deloitte as auditors of the Company.


                                                           By order of the Board
                                                              GENG Xiaopinge
                                                                 Chairman

Hangzhou, the PRC, August 26, 2005

As at the date of this announcement, the executive directors of the Company are:
Messrs. GENG Xiaoping, FANG Yunti, ZHANG Jingzhong and XUAN Daoguang; the
non-executive directors are: Messrs. ZHANG Luyun and ZHANG Yang; and the
independent non-executive directors are: Messrs. TUNG Chee Chen, ZHANG Junsheng
and ZHANG Liping.


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