Dividend Declaration

Zhejiang Expressway Co
26 April 2001


                              Dividend Declaration

Zhejiang Expressway Co., Ltd. (the 'Company') held its 2000 annual general
meeting on April 26th, 2001, and approved, among others, the resolution for the
distribution of the final dividend of the Company for the year ended December
31st, 2000 in the amount of RMB0.07 per share.

The register of members of the Company ('Register of Members') was closed from
March 27th, 2001 to April 25th, 2001 (both days inclusive).  Holders of H shares
of the Company ('H Shares') whose name appeared in the Register of Members on
March 27th, 2001 are entitled to the said final dividend.

Pursuant to the Company's Articles of Association, dividends of H Shares shall
be paid in Hong Kong dollars according to the average closing price of Hong Kong
dollars to Remminbi declared by the People's Bank of China in the five trading
days immediately preceding the date of the declaration of dividends.  The
exchange rate for the purpose of the payment of the final dividend is therefore
HK$1.00 to RMB 1.06130.

The final dividend of RMB0.07 or HK$0.06596 per share is expected to be payable
to holders of the H Shares of the Company on or before May 31st, 2001.