09:17     PICC P&C<02328> - Announcement (4)                                  

    By Order of the Board                                                     
    Fu Zhu                                                                    
    Secretary of the Board                                                    
                                                                              
    Beijing, the PRC, 25 January 2005                                         
                                                                              
    As at the date of this announcement, the executive directors              
    of the Company are Mr. Wang Yi (Chief Executive Officer), Mr.             
    Wang Yincheng, Md. Liu Zhenghuan and Mr. Fu Zhu, the                      
    non-executive directors are Mr. Tang Yunxiang (Chairman), Mr.             
    Ding Yunzhou, Mr. Zhou Shurui and Mr. Tse Sze Wing, Edmund, the           
    independent non-executive directors are Mr. Cheng Wai Chee,               
    Christopher and Mr. Lu Zhengfei.