Stmnt re Share Price Movement

Zhejiang Expressway Co
18 December 2003

Zhejiang Expressway Co., Ltd (the 'Company')

Statement re Share Price Movement

18 December 2003

This statement is made at the request of The Stock Exchange of Hong Kong
Limited.

We have noted the recent increases in the price and trading volume of the shares
of the Company and wish to state that we are no aware of any reasons for such
increases.

We also confirm that there are no negotiations or agreements relating to
intended acquisitions or realisations which are discloseable under paragraph 3
of the Listing Agreement, neither is the Board aware of any matter discloseable
under the general obligation imposed by paragraph 2 of the Listing Agreement,
which is or may be of a price-sensitive nature.

Made by the order of the Board of Zhejiang Expressway Co., Ltd. the directors of
which individually and jointly accept responsibility for the accuracy of this
statement.


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