10:01     HOPEWELL HIGHWAY INFRASTRUCTURE LIMITED<00737>-Announcement1        

    This announcement is for information purposes only and does not           
    constitute an invitation or offer to acquire, purchase or subscribe       
    for securities.                                                           
                                                                              
    The Stock Exchange of Hong Kong Limited (the `Stock Exchange') and        
    Hong Kong Securities Clearing Company Limited (`HKSCC') take no           
    responsibility for the contents of this announcement, make no             
    representation as to its accuracy or completeness and expressly           
    disclaim any liability whatsoever for any loss howsoever arising from     
    or in reliance upon the whole or any part of the contents of this         
    announcement.                                                             
                                                                              
    Unless defined herein, terms in this announcement shall have the          
    same meanings as those defined in the prospectus dated 28 July, 2003      
    (the `Prospectus') issued by Hopewell Highway Infrastructure              
    Limited.                                                                  
                                                                              
    In connection with the Offering, Citigroup Global Markets Asia            
    Limited (`Citigroup'), on behalf of the International Underwriters,       
    or any person acting for it, may over-allot or effect transactions        
    with a view to supporting the market price of the Shares at a level       
    higher than that which might otherwise prevail for a limited period       
    after the date on which dealings in the Shares on the Stock Exchange      
    first commence (the `Listing Date'). However, there is no obligation      
    on Citigroup or any person acting for it to do this. Such stabilizing     
    action, if taken, may be discontinued at any time, and is required to     
    be brought to an end after a limited period.                              
                                                                              
    In connection with the Offering, the Company intends to grant to          
    Citigroup, on behalf of the International Underwriters, the               
    Over-allotment Option which will be exercisable by Citigroup on           
    behalf of the International Underwriters at any time from the date of     
    the International Underwriting Agreement up to the date which is the      
    30th day after the last date for lodging application forms under the      
    Public Offer. Pursuant to the Over-allotment Option, the Company may      
    be required to issue and allot at the Offer Price up to an aggregate      
    of 108,000,000 additional Shares, representing 15% of the total           
    number of Shares initially available under the Offering, in               
    connection with over-allocations in the International Offer, if any,      
    and other stabilizing action in respect of the Shares. In the event       
    that the Over-allotment Option is exercised, a press announcement         
    will be made.                                                             
                                                                              
                                                                              
    Hopewell Highway Infrastructure Limited                                   
    (Incorporated in the Cayman Islands with limited liability)               
                                                                              
    GLOBAL OFFERING                                                           
                                                                              
    Number of Offer      :                    720,000,000 Shares              
    Shares under the                          (subject to                     
    Offering                                  adjustment and the              
                                              Over-allotment                  
                                              Option)                         
    Number of            :                    648,000,000 Shares              
    International Offer                       (subject to                     
    Shares                                    adjustment)                     
    Number of Public     :                    72,000,000 Shares               
    Offer Shares                              (subject to                     
                                              adjustment)                     
    Offer Price          :                    not more than                   
                                              HK$4.75 per Share               
                                              (payable in full on             
                                              application and                 
                                              subject to refund)              
    Nominal Value        :                    HK$0.10 each                    
    Stock Code           :                    737                             
                                                                              
                                                                              
    Global Co-ordinator, Bookrunner and Sponsor                               
    Citigroup                                                                 
                                                                              
    Joint Lead Managers                                                       
    Citigroup   BOCI Asia Limited                                             
                                                                              
                                                                              
    Co-Lead Managers                                                          
                                                                              
    BNP Paribas Peregrine  Daiwa Securities SMBC Hong Kong                    
    JPMorgan  Morgan Stanley                                                  
    Co-Managers                                                               
                                                                              
    CLSA Asia-Pacific Markets ING Bank N.V.UOB Asia (Hong Kong)               
    Limited                                                                   
                                                                              
    ICEA Capital Limited  Kim Eng Securities (Hong Kong) Ltd  South           
    China Securities Limited                                                  
                                                                              
    Sun Hung Kai International Limited  VC CEF Capital Limited