09:47     GUANGZHOU SHIP<00317> - Announcement (2)                            

    Stock Exchange of Hong Kong Limited and Shanghai Stock Exchange and will  
    be sent to H share shareholders by way of circular.                       
                                                                              
    Please refer to the Notice of 2004 AGM published in "Hong Kong            
    Commercial Daily" and "China Daily" on 1st April, 2005. Except for        
    adding above-mentioned agenda item, other items of the 2004 AGM will      
    remain the same as set out in the Notice dated 1st April, 2005.           
                                                                              
    (2)   With reference to the announcement in relation to continuing        
    connected transactions of the Company dated 31st March 2005, due to       
    typographical error, the revised cap amount for providing utilities by    
    the Group to CSSC Group in the table under heading "Basis for             
    determining cap amounts" of part II was erroneously stated as "RMB10.3    
    million" when it should have been "RMB10.4 million", and the increase     
    rate of the cap for 2006 under heading "Basis for determining cap         
    amounts" of part I was erroneously stated as "15&H" when it should have   
    been "15%". Further, due to the amendment of the Listing Rules of         
    Shanghai Stock Exchange, references to "clause 7.3.12 of the Listing      
    Rules of Shanghai Stock Exchange" and "clause 7.3.1 of the Listing Rules  
     of Shanghai Stock Exchange" in the summary box and under heading         
    "Reasons for the supplemental agreement" in the same announcement should  
     be "clause 10.1.1 of the Listing Rules of Shanghai Stock Exchange" and   
    "chapter 10 of the Listing Rules of Shanghai Stock Exchange"              
    respectively.                                                             
                                                                              
    This announcement is made pursuant to the requirements under rule         
    13.51(1) of the Rules Governing the Listing of Securities on The Stock    
    Exchange of Hong Kong Limited.                                            
                                                                              
                                                                              
                                                                              
    By order of the Board                                                     
    Guangzhou Shipyard International Company Limited                          
    Li Zhidong                                                                
    Company Secretary                                                         
                                                                              
    Guangzhou, 18th April, 2005                                               
                                                                              
    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 Pat Yiu, Yuen.