Result of AGM

Zhejiang Expressway Co
30 April 2002





To: Business Editors



(FOR IMMEDIATE RELEASE)





                         Zhejiang Expressway Approved   
       Resolutions at the Annual General Meeting for the Year 2001



(Hong Kong, April 30, 2002) - Zhejiang Expressway Co., Ltd. ('Zhejiang
Expressway' or the 'Company') (HKEx code: 576; LSE code: ZHEH; ADR: ZHEXY)
announced that an annual general meeting was held today and the following
resolutions have been approved at the meeting:



The following resolutions were passed as ordinary resolutions:



1.          Approval of the report of the directors of the Company for the year
            2001;



2.          Approval of the report of the supervisory committee of the Company
            for the year 2001;



3.          Approval of the audited financial statements of the Company for the
            year 2001;



4.          Approval of the proposed distribution of profits and the final
            dividend of the Company for the year 2001 in the amount of RMB0.07
            per share;



5.          Approval of the budget plan of the Company for the year 2002;



6.          Approval of the re-appointment of Ernst & Young as the international
            auditors of the Company and Zhejiang Pan-China Certified Public 
            Accountants as the PRC auditors of the Company and to authorize the
            board of directors of the Company to fix their remuneration;



7.          Approval of the resignation of Mr. Xia Linzhang as an external
            director of the Company and approval of the appointment of Ms.
            Zhang Yang as an external director of the Company.





At the annual general meeting, the following special resolutions were also
passed:



1.          Approval of making certain amendments to the Articles of Association
            of the Company;



2.          Approval of the general mandate to authorize the board of directors
            of the Company to issue additional shares not exceeding 20% of each
            of the existing issued domestic shares and overseas listed foreign 
            shares of the Company.



With regard to the final dividend of the Company for the year 2001, pursuant to
the Company's Articles of Association, the amount of RMB0.07 per share will be
paid in Hong Kong dollars to holders of H shares of the Company whose name
appeared in the register of members of the Company on April 8, 2002, at an
exchange rate of HK$1.00 to RMB1.06058, on May 28, 2002.



Established in 1997, Zhejiang Expressway is regarded by the Zhejiang Provincial
Government as its main enterprise for investing in, constructing and operating
expressways and Class 1 roads in Zhejiang Province.  The Company has exclusive
concession rights to construct and operate the Shanghai-Hangzhou-Ningbo
Expressway and Shangsan Expressway for a period of 30 years.





                                      End





For further information, please contact:


Mr. Gabriel Yu / Mr. Tony Zheng
Zhejiang Expressway Co., Ltd.
Tel: [phone]
Fax: [phone]



Ms. Christy Lai / Ms. Edith Lui
Rikes Communications Limited
Tel: [phone]
Fax: [phone]



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