08:54     SHANGHAI GROWTH<00770> - Unusual price & volume movements           

    The Stock Exchange has received a message from Shanghai International     
    Shanghai Growth Investment Limited which is reproduced as follows:-       
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted the recent increase in the price and trading volume of the  
    shares of the Company and wishes to state that we are not aware of any    
    reasons for such increase.                                                
                                                                              
    We also confirm that, save for the matters disclosed in the Company's     
    announcement dated March 23, 2005 in relation to annual results of the    
    Company for the year ended December 31, 2004, there are no negotiations or
    agreements relating to intended acquisitions or realizations which are    
    discloseable under rule 13.23, neither is the Board aware of any matter   
    discloseable under the general obligation imposed rule 13.09, which is or 
    may be of a price-sensitive nature.                                       
                                                                              
    Made by the order of Shanghai International Shanghai Growth Investment    
    Limited, the Board of directors of which individually and jointly accept  
    responsibility for the accuracy of this statement.                        
                                                                              
    As at the date of this announcement, the Board comprises Mr. Wu Choi Sun, 
    William and Dr. Xue Wanxiang as executive directors; Mr. Ong Ka Thai, Mr. 
    Yick Wing Fat, Simon and Dr. Hua Min as independent non-executive         
    directors; and Mr. Cai Nongrui, Mr. Chao Hsi-hsiang, Mr. Chen Chi-chuan,  
    Mr. Chiang Ching-yee, Mr. Chiu Tak-chiang, Mr. Hu Jinggang, Mr. Tseng Ta- 
    mon, Mr. Lee Tien-chieh, Dr. Wang Changhong and Mr. Zhou Youdao as non-   
    executive directors.                                                      
                                                                              
                                                                              
    For and on behalf of                                                      
    Shanghai International Shanghai Growth Investment Limited                 
                                                                              
    Wu Choi Sun William                                                       
    Executive Director                                                        
                                                                              
    24 March 2005, Hong Kong"