09:38 BEIJING AIRPORT<00694> - Announcement (4) of the Listing Rules but does not require approval by the Independent Shareholders. G. GENERAL The Group is principally engaged in the ownership and operation of an international airport and the provision of related services. Construction Corporation is principally engaged in the design, supervision and contracting of works for civil airports. The terms and conditions of the Project Agreement have been negotiated on an arm's length basis and are normal commercial terms. The Transaction is in the ordinary and usual course of business of the Company. The Board (including the independent non-executive Directors) considers that the Transaction is fair and reasonable, and is in the interests of the Company and the Shareholders as a whole. H. DEFINITIONS In this announcement, the following expressions shall have the respective meanings set opposite thereto: "Basic Fee" Basic fee for the services to be undertaken by Construction Corporation pursuant to the Project Agreement which is to be paid by the Company to Construction Corporation in cash and in stages upon the reaching or achievement of certain work stages or milestones relating to the Project "Beijing Airport" Beijing Capital International Airport "Board" the board of Directors "CAAC" the General Administration of Civil Aviation of China, also known as Civil Aviation Administration of China (*) "Company" Beijing Capital International Airport Company Limited (*), a Sino-foreign joint stock limited company incorporated in the PRC with limited liability, the H shares of which are listed on the Stock Exchange Construction China Airport Construction Corporation (*), a company incorporated in the PRC, a wholly-owned subsidiary of the Parent Company, which is engaged in the business of airport construction and management of airport. It is a connected person of the Company for the purpose of the Listing Rules "Directors" the directors of the Company "Group" the Company, its subsidiaries and jointly controlled entities "Independent the shareholders of the Company other than the Parent Shareholders" Company and its associates (as such term is defined in the Listing Rules) "Incentive Fee" Incentive fees to be paid by the Company to Construction Corporation in cash only if certain work of the Project shall have been completed within the specified timeframe and delivered in accordance with the quality standard set out in the Project Agreement and if the actual construction cost for such work is less than the budgeted construction cost "Listing Rules" Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited "Parent Company" Capital Airports Holding Company (*), an enterprise established in the PRC and the controlling shareholder of the Company "PRC" People's Republic of China "Project" the project relating to the renovation of the airfield area (mainly in the west zone) of Beijing Airport for the purpose of improving the efficiency of runways and hence the capacity of the passenger throughput and aircraft movements of Beijing Airport "Project Agreement" the project contracting agreement (*) entered into by and between the Company and Construction Corporation and dated 18 January 2005 "Service Fees" The aggregate fees for the services to be provided by Construction Corporation under the Project Agreement, to be paid by the Company to Construction Corporation comprising of the Basic Fee and the Incentive Fee "Shareholder(s)" registered holder(s) of the shares of the Company "Stock Exchange" The Stock Exchange of Hong Kong Limited "Sub-projects" individual sub-projects which form part of the Project The Stock Exchange of Hong Kong Limited received notifications regarding the daily trading summary of derivative warrants as follows:- Trade Date - 18012005 Average Percent Number (HK$) per of Issue of Warrant Number of Still Stock Stock Warrants Bought Warrants Still out in Short Name Code Bought/(Sold) /(Sold) out in Market Market --------------- ---- ------------- --------- -------------- -------- BI-HWL @EC0505 3574 8,850,000 0.481 9,160,000 4.58% BI-HWL @EC0505 3574 (9,630,000) (0.481) 9,160,000 4.58% BI-KINGB@EC0508 3575 1,250,000 0.327 20,665,000 10.33% BI-KINGB@EC0508 3575 (100,000) (0.350) 20,665,000 10.33% BI-HSBC @EC0507 4602 20,000 0.540 1,528,000 0.76% BI-HWL @EC0507 4603 40,000 0.990 16,510,000 8.25% BI-SHK P@EC0507 4604 - - 540,000 0.27% BI-BOCHK@EC0507 4633 - - 180,000 0.90% BI-CK(H)@EC0507 4634 - - 2,150,000 1.08% BI-C MOB@EC0507 4635 (50,000) (0.246) 275,000 0.14% BI-G BIO@EC0510 4636 30,000 0.810 6,362,000 31.81%