09:22     ANHUIEXPRESSWAY<00995> - Announcement                               

    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.                                                             
                                                                              
    ANHUI EXPRESSWAY COMPANY LIMITED                                          
    (A joint stock company incorporated in the People's Republic of China     
    with limited liability)                                                   
    (Stock code 995)                                                          
                                                                              
    Waiver from compliance with Rule 3.24 of Listing Rules                    
                                                                              
    The Company has applied for, and the Stock Exchange has granted the       
    Company a conditional waiver from the strict compliance with Rule 3.24    
    of the Listing Rules for a period of 3 years on 31 December 2004.         
                                                                              
    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"), Anhui Expressway Company     
    Limited (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 exemption from the       
    examination requirement for membership of HKICPA.                         
                                                                              
    Ms. Liang Bing ("Ms. Liang"), 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    
    for the purpose of granting exemptions from the examination requirement   
    for membership of HKICPA. The Company has engaged Mr. Yim Hing Wah ("Mr.  
    Yim"), who is a fellow and a practicing member of HKICPA and ACCA, to     
    provide assistance to Ms. Liang for a period of three years so as to      
    discharge her duties as the Qualified Accountant.                         
                                                                              
    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 (the "Waiver") on 31 December 2004 for a   
    period of three years ceasing either on 31 December 2007, being three     
    years from the date of the waiver, the date of the engagement contracts   
    ends between the Company and Mr. Yim or once Mr. Yim is no longer able    
    to assist Ms. Liang, whichever is the earlier. In either of the           
    situation mentioned, the Company will be required to immediately inform   
    the Stock Exchange and take remedial steps to comply with Rule 3.24 of    
    the Listing Rules.                                                        
                                                                              
    As at the date of this announcement, the board of directors of the        
    Company (the "Broad") comprises of: Wang Shui, Li Yungui, Tu Xiaobei,     
    Zhang Hui, Zhang Wensheng, He Kun, Zhang Liping, Cao Deyun and Song       
    Youming                                                                   
                                                                              
    By Order of the Board                                                     
    Xie Xinyu                                                                 
    Company Secretary                                                         
    Hefei, Anhui, the PRC                                                     
    11 January 2005