Dividend Declaration

Zhejiang Expressway Co
28 September 2001


                              Dividend Declaration

Zhejiang Expressway Co., Ltd. (the 'Company') held an extraordinary general 
meeting on September 28th, 2001, and approved the resolution for the 
distribution of the interim dividend of the Company for the six months ended 
June 30th, 2001 in the amount of RMBO.03 per share.

The register of members of the Company ('Register of Members') was closed from 
August 29th, 2001 to September 27th, 2001 (both days inclusive). Holders of H 
shares of the Company ('H Shares') whose name appeared in the Register of 
Members on August 28th, 2001 are entitled to the said interim 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 interim dividend is 
therefore HK$1.00 to RMB 1.06108.

The interim dividend of RMB0.03 or HK$0.02827 per share is expected to be 
payable to holders of the H Shares of the Company on or before October 25th, 
2001.

For and on behalf of 
Zhejiang Expressway Co., Ltd.
 
Wenyao Jiang 
Company Secretary