Dividend Declaration

Zhejiang Expressway Co
9 October 2003

                         Dividend Declaration

Zhejiang Expressway Co., Ltd. (the 'Company') held an extraordinary general
meeting today (October 9th, 2003), and approved the resolution for the
distribution of the interim dividend of the Company for the six months ended
June 30th, 2003 in the amount of RMB0.04 per share.

The register of members of the Company ('Register of Members') was closed from
September 9th, 2003 to October 8th, 2003 (both days inclusive). Holders of
overseas listed foreign shares of the Company ('H Shares') whose name appeared
in the Register of Members on September 15th, 2003 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 Renminbi 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 1.06780.

The final dividend of RMB0.04 or HK$0.03746 per share is expected to be payable
to holders of the H Shares of the Company on or before November 6th, 2003.

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


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