09:24     GUANGZHOU PHAR<00874> - Unusual price movement                      

    The Stock Exchange has received a message from Guangzhou Pharmaceutical   
    Company Limited which is reproduced as follows:-                          
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    The directors (the "Director") have noted the recent increases in the     
    price of the shares of Guangzhou Pharmaceutical Company Limited           
    (the "Company") and wish to state that the Directors are not aware of     
    any reasons for such increase.                                            
                                                                              
    The Directors 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 of directors (the "Board") aware of
    any matter Discloseable under the general obligation imposed by Rule      
    13.09, which is or may be of a price-sensitive nature.                    
                                                                              
    Made by the order of the Board of directors, the Directors collectively   
    and individually accept responsibility for the accuracy of this           
    statement.                                                                
                                                                              
                                                                              
    By order of the Board                                                     
    Guangzhou Pharmaceutical Company Limited                                  
                                                                              
    He Shuhua                                                                 
    Company Secretary                                                         
                                                                              
    Guangzhou, the People's Republic of China, 22 April 2005                  
                                                                              
    As at the date of this announcement, the Board comprises Mr. Yang         
    Yongming, Mr. Zhou Yuejin, Mr. He Shuhua and Mr. Feng Zansheng as         
    executive Directors, and Mr. Wu Zhang, Mr. Wong Hin Wing and Mr. Zhang    
    Heyong as independent non-executive Directors."