Dividend Declaration

Zhejiang Expressway Co
30 April 2002

                                                                April 30th, 2002



To:   Hong Kong Stock Exchange
      Information Service Department            By fax only: (852) 2877 6987

To:   London Stock Exchange
      Company Announcement Office               By fax only: (44) 20 7588 6057

To:   Berlin Stock Market                       By fax only: (49 30) 59 00 84-20





                           Dividend Declaration



Zhejiang Expressway Co., Ltd. (the 'Company') held an annual general meeting on
April 30th, 2002, and approved the resolution for the distribution of the final
dividend of the Company for the year ended December 31st, 2001 in the amount of
RMB0.07 per share.



The register of members of the Company ('Register of Members') was closed from
March 31st, 2002 to April 29th, 2002 (both days inclusive). Holders of H shares
of the Company ('H Shares') whose name appeared in the Register of Members on
April 8th, 2002 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 1.06058.



The final dividend of RMB0.07 or HK$0.06600 per share is expected to be payable
to holders of the H Shares of the Company on May 28, 2002.





                                                            For and on behalf of
                                                   Zhejiang Expressway Co., Ltd.





                                                                   Wenyao Jiang
                                                               Company Secretary








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