10:05     GUANGZHOU SHIP<00317> - Unusual price and volume movements          

    The Stock Exchange has received a message from Guangzhou Shipyard         
    International Company 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 increases in price and trading volume of the     
    shares of the Company and wish to state that we are not aware of any      
    reasons for such increases.                                               
                                                                              
    We also confirm that there are no negotiations or agreements relating to  
    intended acquisitions or realisations which are discloseable under        
    rule 13.23 neither is the Board aware of any matter discloseable under the
    general obligation imposed by rule 13.09, which is or may be of a prices- 
    sensitive nature.                                                         
                                                                              
    Made by the order of Guangzhou Shipyard Int'l Co., Ltd. the Board of the  
    directors of which individually and jointly accept responsibility for the 
    accuracy of this statement.                                               
                                                                              
    As at the date of this announcement, the Board of Directors of the Company
    is composed of eleven directors, namely executive directors Messrs. Hu    
    Guoliang, Yu Baoshan, Han Guangde, Wang Yi, non-executive directors       
    Messrs. Zhong Jian, Li Junfeng, Miao Jian, and independent non-executive  
    directors Messrs. Wu Fabo, Bu Miaojin, David Hon To, Yu and Philip Pak    
    Yiu, Yuen.                                                                
                                                                              
    Li Zhidong, Company Secretary                                             
                                                                              
    April 1, 2005"