Result of Board Meeting

Zhejiang Expressway Co
18 August 2003

Zhejiang Expressway Co., Ltd. (the 'Company') 
Preliminary Announcement of Interim Results 
- Interim Dividend, Newspapers & Closure of Register of Members

The Company held a board meeting on August 18, 2003, and approved, among others,
the release of interim results for the six months ended June 30, 2003, as well
as the resolution recommending the payment of an interim dividend of Rmb4.0
cents per share in respect of six months ended June 30, 2003. The recommendation
is subject to approval at the extraordinary general meeting of the shareholders
of the Company to be held on October 9, 2003.

The preliminary announcement of interim results of the Company and its
subsidiaries for the six months ended June 30, 2003 will be made on August 19,
2003 on two Hong Kong newspapers, namely the  in
English, and the  in Chinese.

The register of members of H shares of the Company ('H Shares') will be closed
from September 9, 2003 to October 8, 2003 (both days inclusive), during which no
transfer of shares will be registered. Holders of H Shares whose name appear in
the Register of Members on September 8, 2003 are entitled to the said interim
dividend.

Pursuant to the Company's Articles of Association, dividends of H Shares shall
be paid in Hong Kong dollars. Details on the exchange rate to be used, as well
as the payment date will be announced after approval of the recommendation by
the extraordinary general meeting of the shareholders of the Company.



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