09:20     ANHUIEXPRESSWAY<00995> - Announcement (5)                           

                                   Liping, Cao Deyun and Song                 
                                   Youming who are independent                
                                   non-executive directors of                 
                                   the Company                                
    `Independent Shareholders'     shareholders of the Company                
                                   other than AEHC and its                    
                                   Associates                                 
    `JV'                            (Anhui Gaojie Expressway                  
                                   Company Limited), a                        
                                   co-operative joint venture                 
                                   incorporated with limited                  
                                   liability under the PRC                    
                                   Company Law                                
    `PRC'                          the People's Republic of                   
                                   China                                      
    `RMB'                          Renminbi, the lawful currency              
                                   of the PRC                                 
    `HK$'                          Hong Kong dollars, the lawful              
                                   currency of Hong                           
                                   Kong                                       
                                                                              
    Unless otherwise specified, the Renminbi amounts shown in this            
    announcement have been translated into Hong Kong dollars at an            
    exchange rate of HK$1.00=RMB1.06 for reference purpose.                   
                                                                              
    As at the date of this announcement, the board of directors of the        
    Company 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 Province, the PRC, 9th March, 2005