09:27     CHINA WATER<00855> - Announcement (4)                               

    "HK$"   Hong Kong Dollars, the lawful currency of Hong Kong               
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC                          
                                                                              
    "%"   per cent.                                                           
                                                                              
    For the purpose of this announcement, unless the context                  
    otherwise requires, conversion of Reminbi into Hong Kong                  
    dollars is based on the approximate exchange rate of RMB1.06              
    to HK$1.00.                                                               
                                                                              
    By Order of the Board                                                     
    Duan Chuan Liang                                                          
    Chairman                                                                  
                                                                              
    Hong Kong, 12th April, 2005