09:29     CHINA MER HOLD<00144> - Announcement (9)                            

    `Hempel'                       Hempel A/S (also known as                  
                                   I.C.H. Industrial and                      
                                   Commercial Holdings ApS,                   
                                   which is registered as a                   
                                   secondary name), a company                 
                                   incorporated in Denmark                    
    `Independent Financial         Hercules Capital Limited, a                
    Adivser'                       licensed corporation to carry              
                                   on business in type 6                      
                                   regulated activities under                 
                                   the Securities and Futures                 
                                   Ordinance (Chapter 571 of the              
                                   Laws of Hong Kong) and the                 
                                   independent financial adviser              
                                   to the independent board                   
                                   committee in relation to the               
                                   Non-exempt Continuing                      
                                   Connected Transactions                     
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on The               
                                   Stock Exchange of Hong Kong                
                                   Limited                                    
    `Ming Wah Bermuda'             Ming Wah Universal (Bermuda)               
                                   Co. Ltd., a company                        
                                   incorporated in Bermuda, and               
                                   its                                        
                                   subsidiaries                               
    `Ming Wah Shipping'            Ming Wah (Universal) Shipping              
                                   Inc., a company incorporated               
                                   in the Republic of Liberia                 
    `Non-exempt Continuing         the transactions of the Group              
    Connected                      under the Hempel Purchase                  
    Transactions'                  Agreement, which constitute                
                                   continuing connected                       
                                   transactions and which are                 
                                   subject to the reporting,                  
                                   announcement and independent               
                                   shareholders' approval                     
                                   requirements of the Listing                
                                   Rules                                      
    `PRC'                          the People's Republic of China             
    `SCMPS'                         (China Merchants Port                     
                                   Services (Shenzhen) Company                
                                   Limited, being the unofficial              
                                   English name) a company                    
                                   incorporated in the PRC and                
                                   an indirect wholly-owned                   
                                   subsidiary of the                          
                                   Company                                    
    `Shareholders'                 the shareholders of the                    
                                   Company                                    
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong                                       
                                   Limited                                    
    `Yiu Lian'                     Yiu Lian Dockyards Limited, a              
                                   company incorporated in Hong               
                                   Kong and an indirect                       
                                   wholly-owned subsidiary of                 
                                   CMG                                        
                                                                              
                                                                              
                                                                              
    In this announcement, unless otherwise indicated, the exchange rate       
    of HK$1 = RMB 1.06 has been used where applicable. Such conversion is     
    for the purpose of illustration only and shall not constitute a           
    representation that any amount has been, could have been or may be        
    exchanged using such or any other exchange rates.                         
                                                                              
                                                                              
    By Order of the Board                                                     
    CHINA MERCHANTS HOLDINGS                                                  
    (INTERNATIONAL) COMPANY LIMITED                                           
    Li Yi                                                                     
    Managing Director                                                         
                                                                              
    The Board as at the date of this announcement comprises Dr. Fu            
    Yuning, Mr. Zhao Huxiang, Mr. Li Yinquan, Mr. Hu Zheng, Mr. Meng Xi,      
    Mr. Li Yi, Mr. To Wing Sing and Mr. Yu Liming who are the executive       
    Directors, Mr. Tsang Kam Lan, Mr. Kut Ying Hay, Mr. Lee Yip Wah Peter     
    and Mr. Li Kwok Heem John who are the independent non-executive           
    Directors.                                                                
                                                                              
                                                                              
     Hong Kong, 10 March 2005