Results of AGM

ZHEJIANG EXPRESSWAY CO., LTD.                         

 (A joint stock limited company incorporated in the People´s Republic of China 
                            with limited liability)                            

                              (Stock Code: 0576)                               

                 Announcement on Resolutions Passed at the AGM                 

Results of AGM

Zhejiang Expressway Co., Ltd. (the "Company") held its 2007 annual general
meeting (the "AGM") at 9:00 a.m. on Thursday, May 15, 2008 at 12/F, Block A,
Dragon Century Plaza, 1 Hangda Road, Hangzhou, Zhejiang Province, the People's
Republic of China (the "PRC").

Three shareholders of the Company (the "Shareholders") attended the AGM by
proxy, representing a total of 3,466,049,543 shares of the Company entitled to
attend and to vote at the AGM, or 79.81% of total issued share capital of the
Company. Chairman of the Company, Mr. Geng Xiaoping, chaired the AGM. Votings
at the AGM took place by way of poll, with all the proposed resolutions duly
passed, details of which are as follows:

1. Resolved to approve the report of the directors for the year 2007, with
3,429,028,468 shares voted in the affirmative (representing 98.93% of the total
shares held by the Shareholders present at the AGM) and 110,000 shares voted in
the negative (representing 0.003% of the total shares held by the Shareholders
present at the AGM);

2. Resolved to approve the report of the supervisory committee for the year
2007, with 3,429,700,468 shares voted in the affirmative (representing 98.95%
of the total shares held by the Shareholders present at the AGM) and 110,000
shares voted in the negative (representing 0.003% of the total shares held by
the Shareholders present at the AGM);

3. Resolved to approve the audited financial statements for the year 2007, with
3,429,028,468 shares voted in the affirmative (representing 98.93% of the total
shares held by the Shareholders present at the AGM) and no share voted in the
negative;

4. Resolved to approve a final dividend of Rmb24 cents per share in respect of
the year ended December 31, 2007, with 3,466,049,543 shares voted in the
affirmative (representing 100% of the total shares held by the Shareholders
present at the AGM) and no share voted in the negative;

5. Resolved to approve the final report for the year 2007 and the financial
budget for the year 2008, with 3,463,887,543 shares voted in the affirmative
(representing 99.94% of the total shares held by the Shareholders present at
the AGM) and 180,000 shares voted in the negative (representing 0.005% of the
total shares held by the Shareholders present at the AGM);

6. Resolved to approve the re-appointment of Deloitte Touche Tohmatsu Certified
Public Accountants Hong Kong as the Hong Kong auditors of the Company, and
authorize the board of directors of the Company to fix their remuneration, with
3,465,659,543 shares voted in the affirmative (representing 99.99% of the total
shares held by the Shareholders present at the AGM) and no share voted in the
negative; and

7. Resolved to approve the re-appointment of Zhejiang Pan China Certified
Public Accountants as the PRC auditors of the Company, and authorize the board
of directors of the Company to fix their remuneration, with 3,465,659,543
shares voted in the affirmative (representing 99.99% of the total shares held
by the Shareholders present at the AGM) and 110,000 shares voted in the
negative (representing 0.003% of the total shares held by the Shareholders
present at the AGM).

The total number of issued shares of the Company entitling the holders to
attend and vote at the AGM in respect of the resolutions was 4,343,114,500.
There was no share entitling any holder to attend and vote only against the
resolutions at the AGM. Ms. Yi Huang of Deloitte Touche Tohmatsu Certified
Public Accountants was appointed and acted as scrutineer for the vote taking
during the AGM. No person was required to abstain from voting at the AGM in
relation to the above.

Further information on the payment of final dividend

The payment of a final dividend of Rmb24 cents per share in respect of the year
ended December 31, 2007 was approved by more than half of votes cast by the
Shareholders at the AGM. Shareholders whose names appeared in the register of
members of the Company on April 20, 2008 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 applicable exchange rate for the purpose of the payment of the final
dividend is therefore HK$1.00 to Rmb0.8987. The final dividend of HK$26.704
cents per share is expected to be paid to shareholders of the H Shares of the
Company on June 12, 2008.

By order of the Board
ZHANG Jingzhong
Company Secretary

Hangzhou, the PRC, May 15, 2008

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.

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