Final Results - Summary

Zhejiang Expressway Co
15 March 2004

Summarised results announcement
Year end date 31/12/03
Currency - Renminbi

                                         (Audited) Current Period       (Audited) Last Corresponding Period 
                                         from Jan.1st to Dec.31st                from Jan. 1st to Dec. 31st
                                                             2003                                      2002
                                                        (Rmb'000)                                 (Rmb'000)


Turnover (Note I)                                       2,471,805                                 2,168,078

Profit/(Loss) from Operations (Note III)                1,698,767                                 1,544,299

Finance cost                                            (132,801)                                 (163,224)

Share of Profit/(Loss) of Associates                       17,394                                    11,719

Share of Profit/(Loss) of Jointly Controlled Entities       9,829                                     1,677
 
Profit/(Loss) after Taxation & MI                       1,008,792                                   890,452

% Change over Last Period               

EPS/(LPS) - Basic (in dollar)                         23.23 cents                               20.50 cents

          - Diluted (in dollar)                               N/A                                       N/A

Extraordinary ('ETD') Gain/(Loss)                               -                                         -

Profit/(Loss) after ETD Items                           1,008,792                                   890,452

Final Dividend per Share                               11.0 cents                                 9.0 cents

(specify if with other options)                                -                                          - 

B/C Dates for Final Dividend                    April 20th, 2004    to      May 19th, 2004 bdi.

Payable Date                                                 N/A          

B/C Dates for (Annual) General Meeting          April 20th, 2004    to      May 19th, 2004 bdi.

Other Distribution for Current Period                        N/A

B/C Date for Other Distribution                              N/A    to      N/A bdi.


Mr. Fang, Yunti
86-571-8798 5588

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