09:24     BYD COMPANY<01211> - 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.               
                                                                              
    BYD Company Limited                                                       
    (a joint stock company incorporated in the People's Republic of           
    China with limited liability)                                             
                                                                              
    (Stock Code: 1211)                                                        
                                                                              
    Waiver regarding Qualified Accountant                                     
                                                                              
    SUMMARY                                                                   
    The board of directors (the `Board') of BYD Company                       
    Limited (the `Company') announces that The Stock Exchange of Hong         
    Kong Limited (the `Stock Exchange') has agreed to grant to the            
    Company a conditional waiver (the `Waiver') from strict compliance        
    with Rule 3.24 of the Rules Governing the Listing of Securities on        
    The Stock Exchange of Hong Kong Limited (the `Listing Rules') for a       
    term of three years commencing from 31 December 2004. The Waiver          
    expires on 31 December 2007, being the date the engagement contract       
    between the Company and Mr. Chan Wai Leung (`Mr. Chan') ends or once      
    Mr. Chan is no longer able to assist Mr. Wu Jing-sheng (`Mr. Wu'),        
    whichever is the earliest.                                                
                                                                              
    Under Rule 3.24 of the Listing Rules, the Company must employ an          
    individual on a full-time basis with the qualifications set out under     
    that rule as its qualified accountant.                                    
                                                                              
    On the basis that,                                                        
    1.                                                                        
    Mr. Wu, a member of the senior management and the company secretary       
    of the Company, is able to meet all the requirements as set out in        
    Rule 3.24 of the Listing Rules, except that he is not a fellow or         
    associate of the Hong Kong Institute of Certified Public Accountants      
    (`HKICPA') (formerly known as the Hong Kong Society of Accountants)       
    or a similar body of accountants recognized by HKICPA for the purpose     
    of granting exemptions from the examination requirement for               
    membership of HKICPA;                                                     
                                                                              
    2.                                                                        
    Mr. Chan, an associate of the HKICPA, will assist Mr. Wu for a            
    period of three years in discharging his responsibility as a              
    qualified accountant; and                                                 
                                                                              
    3.                                                                        
    the Company will disclose the brief biographical details of Mr. Chan      
    in the annual report of the Company during the term of engagement of      
    Mr. Chan,                                                                 
                                                                              
    the Stock Exchange has agreed to grant to the Company the Waiver          
    commencing from 31 December 2004. The Waiver will cease either on 31      
    December 2007, being the date on which the engagement contract            
    between the Company and Mr. Chan ends, or once Mr. Chan is no longer      
    able to assist Mr. Wu, whichever is the earliest. The Company will        
    thereupon immediately inform the Stock Exchange and take steps to         
    comply with Rule 3.24 of the Listing Rules.                               
                                                                              
                                   By order of the Board                      
                                   BYD Company Limited                        
                                   Wang Chuan-fu                              
                                   Chairman                                   
                                                                              
                                                                              
                                                                              
    Hong Kong, 4 March, 2005                                                  
                                                                              
    As at the date of this announcement, the executive directors of the       
    Company are Wang Chuan-fu and Xia Zuo-quan; the non-executive             
    director of the Company is Lu Xiang-yang; and the independent             
    non-executive directors of the Company are Li Guo-xun, Kang Dian and      
    Lin You-ren.