09:28 COSCO PACIFIC<01199> - Announcement (3) DEFINITION In this announcement, the following expressions have the following meanings, unless the context requires otherwise: ``Board'' the board of Directors ``Company'' COSCO Pacific Limited ``connected person'' has the meaning ascribed to it under the Listing Rules and references to ``connected'' and ``independent'' shall be construed accordingly ``Container Terminal'' the proposed container terminal at Nansha Port Phase II in the Guangdong province of the PRC comprising six berths with a quay length of approximately 2,100 metres ``COSCO Ports (Nansha)'' COSCO Ports (Nansha) Limited, a company established in the British Virgin Islands and a wholly-owned subsidiary of the Company ``Directors'' the directors of the Company ``Group'' the Company and its subsidiaries ``HK$'' Hong Kong dollars, the lawful currency of Hong Kong ``Hong Kong'' the Hong Kong Special Administrative Region of the PRC ``JV Heads of Agreement'' the agreement entered into between COSCO Ports (Nansha) and the PRC Partner on 16 April 2005 in relation to the establishment of the JV Company ``JV Company'' a sino-foreign equity joint venture company proposed to be incorporated in the PRC to carry out the construction and operation of the Container Terminal ``Listing Rules'' the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ``PRC'' the People's Republic of China ``PRC Partner'' Guangzhou Port Container Comprehensive Development Co., Ltd. (*), a company established in the PRC and a wholly-owned subsidiary of Guangzhou Port Group Co., Ltd. (*) ``RMB'' Renminbi, the lawful currency of the PRC ``US$'' United States dollars, the lawful currency of the United States of America As at the date of this announcement, the Board comprises 18 executive directors, namely, Capt. WEI Jiafu (Chairman), Mr. LIU Guoyuan (Vice Chairman), Mr. ZHANG Fusheng, Mr. WANG Futian, Mr. CHEN Hongsheng, Mr. LI Jianhong, Mr. MA Zehua, Mr. MA Guichuan, Mr. LI Yunpeng, Ms. SUN Yueying, Mr. ZHOU Liancheng, Mr. SUN Jiakang (Managing Director), Mr. XU Lirong, Mr. HE Jiale, Mr. WONG Tin Yau, Kelvin, Mr. MENG Qinghui, Mr. LU Chenggang, Mr. QIN Fuyan; 3 independent non-executive directors, namely, Dr. LI Kwok Po, David, Mr. LIU Lit Man, Mr. Alexander Reid HAMILTON; and 1 non-executive director, namely, Mr. KWONG Che Keung, Gordon. By Order of the Board COSCO Pacific Limited SUN Jiakang Managing Director Hong Kong, 16 April 2005 (*For the Chinese names, please refer to the press announcement today.)