Qualified Accountant

Zhejiang Expressway Co
26 January 2006

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents
of this announcement, makes no representation as to its accuracy or completeness
and expressly disclaims any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this
announcement.



                               Chinese character
                         ZHEJIANG EXPRESSWAY CO., LTD.

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

                               (Stock Code: 0576)



WAIVER FROM COMPLIANCE WITH RULE 3.24 OF LISTING RULES


The Company has applied for, and the Stock Exchange has granted, a conditional
waiver from the strict compliance with Rule 3.24 of the Listing Rules in
relation to the appointment of a qualified accountant to the Company.



The announcement is made at the request of the Stock Exchange of Hong Kong
Limited (the 'Stock Exchange').



Pursuant to Rule 3.24 of the Rules Governing the Listing of Securities on the
Stock Exchange (the 'Listing Rules'), Zhejiang Expressway Co., Ltd. (the
'Company') must employ a qualified accountant (the 'Qualified Accountant') on a
full-time basis who, among other things, must be a qualified accountant and a
fellow or associate member of Hong Kong Society of Accountants (now known as
Hong Kong Institute of Certified Public Accountants ('HKICPA')) or a similar
body of accountants recognized by HKICPA for the purpose of granting exemptions
from the examination requirement for membership of HKICPA.



Mr. Wu Jun Yi ('Mr. Wu'), being a member of the senior management team of the
Company, is able to meet all the requirements as set out in Rule 3.24 of the
Listing Rules, save for being a fellow or associate member of HKICPA or a
similar body of accountants recognized by HKICPA. The Company has engaged SBA
Stone Forest Corporate Advisory (Shanghai) Co., Ltd. ('SBA') to provide, among
others, assistance to Mr. Wu for the period of two years so as to discharge his
duties as the Qualified Accountant. SBA has nominated Mr. Wong Wai Kwun ('Mr.
Wong') and Mr. Fung Kai Wai ('Mr. Fung'), both members of the Association of
Chartered Certified Accountants and the HKICPA, to assist Mr. Wu.



In respect of the above, the Company has applied for, and the Stock Exchange has
granted, a conditional waiver from strict compliance with Rule 3.24 of the
Listing Rules for a period of two years commencing from 18 January 2006, the
date of the waiver letter issued by the Stock Exchange. The waiver will cease
either after two years from the date of the waiver letter issued by the Stock
Exchange, the date the engagement contract ends between the Company and SBA, or
once either Mr. Wong or Mr. Fung is no longer able to assist Mr. Wu, whichever
is earlier.



In either of the situation mentioned, the Company will immediately inform the
Stock Exchange and take remedial steps to comply with Rule 3.24 of the Listing
Rules.


                                                           By Order of the Board
                                                                 Zhang Jingzhong
                                                               Company Secretary



Hangzhou, 20 January 2006



As at the date of this announcement, the executive directors of the Company are:
Messrs. Geng Xiaoping, Fang Yunti, Zhang Jingzhong and Xuan Daoguang; 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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            The company news service from the London Stock Exchange