Notice of 2006 Annual General Meeting

Zhejiang Expressway Co., Ltd.                         
(A joint stock limited company incorporated in 
the People's Republic of China with limited liability)                            
(Stock Code: 0576)                               

                   NOTICE OF 2006 ANNUAL GENERAL MEETING                     

NOTICE IS HEREBY GIVEN THAT the 2006 annual general meeting (the "AGM") of
Zhejiang Expressway Co., Ltd. (the "Company") will be held at 9:00 a.m. on
Monday, June 11, 2007 at 12/F, Block A, Dragon Century Plaza, 1 Hangda Road,
Hangzhou, Zhejiang Province, 310007, the People's Republic of China (the
"PRC"), for the purpose of considering and, if thought fit, passing with or
without modification or amendment the following resolutions:

1. To consider and approve the report of the directors for the year 2006;

2. To consider and approve the report of the supervisory committee for the year
   2006;

3. To consider and approve the audited financial statements for the year 2006;

4. To consider and approve a final dividend of Rmb20 cents per share in respect
   of the year ended December 31, 2006; and

5. To consider and approve the financial budget for the year 2007.

                                         By order of the board of directors    
                                            Zhejiang Expressway Co., Ltd.      
                                                   Zhang Jingzhong             
                                                  Company Secretary            

Hangzhou, the PRC,

April 24, 2007

Notes:

1. Registration procedures for attending the AGM

(1) Holders of H shares of the Company ("H Shares") and domestic shares of the
    Company ("Domestic Shares") intending to attend the AGM should return the reply
    slip for attending the AGM to the Company by post or by facsimile (address and
    facsimile numbers are shown in paragraph 6(2) below) such that the same shall
    be received by the Company on or before May 21, 2007.

(2) A shareholder or his/her/its proxy should produce proof of identity when
    attending the AGM. If a corporate shareholder appoints its legal representative
    to attend the meeting, such legal representative shall produce proof of
    identity and a copy of the resolution of the board of directors or other
    governing body of such shareholder appointing such legal representative to
    attend the meeting.

2. Proxy

(1) A shareholder eligible to attend and vote at the AGM is entitled to
    appoint, in written form, one or more proxies to attend and vote at the AGM on
    behalf of him/her/it. A proxy needs not be a shareholder of the Company.

(2) A proxy should be appointed by a written instrument signed by the appointor
    or his/her/its attorney. If the appointor is a corporation, the same shall be
    affixed with its common seal or signed by its director(s) or duly authorized
    representative(s). If the form of proxy is signed by the attorney of the
    appointor, the power of attorney or other authorization document(s) of such
    attorney should be notarized.

(3) To be valid, the power of attorney or other authorization document(s)
    (which have been notarized) together with the completed form of proxy must be
    delivered, in the case of holders of Domestic Shares, to the Company at the
    address shown in paragraph 6(2) below and, in the case of holders of H Shares,
    to Hong Kong Registrars Limited at Rooms 1806-1807, 18/F, Hopewell Center, 183
    Queen's Road East, Hong Kong, at least 24 hours before the time designated for
    holding of the AGM.

(4) A proxy may exercise the right to vote by a show of hands or by poll.
    However, if more than one proxy is appointed by a shareholder, such proxies
    shall only exercise the right to vote on a poll.

3. Book closing period
   For the purpose of the AGM, the register of members holding H shares of the
   Company will be closed from May 12, 2007 to June 11, 2007 (both days
   inclusive).

4. Last day of transfer and record date
   Holders of H Shares who intend to attend the AGM and qualify for the final
   dividend must deliver all transfer instruments and the relevant shares
   certificates to Hong Kong Registrars Limited at Rooms 1712-1716, 17/F, Hopewell
   Center, 183 Queen's Road East, Hong Kong, at or before 4:30p.m. on Friday, May
   11, 2007.

   For the purpose of the AGM, the record date is May 17, 2007.

5. Dividend Payable date
   Upon relevant approval by shareholders at the AGM, the final dividend is
   expected to be paid out on June 29, 2007.

6. Miscellaneous

(1) The AGM will not last for more than one day. Shareholders who attend shall
    bear their own traveling and accommodation expenses.

(2) The registered address of the Company is:

    12/F, Block A, Dragon Century Plaza
    1 Hangda Road
    Hangzhou, Zhejiang 310007
    People's Republic of China

    Telephone No.: ([phone]
    Facsimile No.: ([phone]

As at the date of this announcement, the executive directors of the Company
are: Messrs. Geng Xiaoping, Fang Yunti, Zhang Jingzhong and Jiang Wenyao; the
non-executive directors are: Messrs. Zhang Luyun and Zhang Yang; and the
independent non-executive directors are: Messrs. Tung Chee Chen, Zhang Junsheng
and Zhang Liping.