Secondary Listing of H Shares

Zhejiang Expressway Co
28 March 2001

                                                                              
Zhejiang Expressway Co., Ltd                                                  
                                                       
(a joint stock limited company incorporated in the People's                   
Republic of China with limited liability)                                     
                                
        SECONDARY LISTING OF THE H SHARES OF THE COMPANY
              ON THE UNOFFICIAL REGULATED MARKET OF
                    THE BERLIN STOCK EXCHANGE

The directors (the 'Directors') of Zhejiang Expressway Co., Ltd.
(the  'Company') announce that the H shares of the Company  (the
'H   Shares')   have  a  secondary  listing  on   the   Berliner
Wertpapierb/$$/Adorse (the 'Berlin Stock Exchange') and  trading
commenced on 27th February 2001.

The  Directors  wish to announce that on 16th  March  2001,  the
Company  received a letter from a brokerage company admitted  to
trading on the Berlin Stock Exchange informing the Company  that
the H Shares have a secondary listing (' Secondary Listing ') on
the  Berlin  Stock Exchange, and that trading of  the  H  Shares
commenced  on  27th  February 2001. The  brokerage  firm  is  an
independent  third  party  not  connected  with  the  Directors,
supervisors,  chief executives and substantial  shareholders  of
the  Company  or  any  of  its  subsidiaries  or  any  of  their
respective  associates (as defined in the  Rules  Governing  the
Listing  of  Securities  on  The Stock  Exchange  of  Hong  Kong
Limited).

The  Company has subsequently been able to confirm  that  the  H
Shares  have  a  secondary listing on the  Unofficial  Regulated
Market  of  the Berlin Stock Exchange. The application  for  the
listing of the H Shares was made by the relevant brokerage  firm
to the Berlin Stock Exchange without prior consultation with, or
consent  from, the Company. The Directors, nevertheless, welcome
the   Secondary  Listing  and  consider  it  to  be  a  positive
development for the Company. The Directors understand  that  the
Secondary Listing will not give rise to any obligations  on  the
part of the Company towards the Berlin Stock Exchange.

Shareholders  and potential investors are reminded  to  exercise
extreme caution in dealings in the H Shares.

                                                                
                                           By Order of the Board
                                                 Zhang Jingzhong
                                               Company Secretary
                    Hangzhou, Zhejiang, the PRC, 28th March 2001