10:10     SHANGHAI ELECTRIC GROUP COMPANY LIMITED<02727> - Ann. (2)           

    Shanghai Electric Group Company Limited                                   
    (A joint stock limited company incorporated in the                        
    People's Republic of China with limited liability)                        
                                                                              
    GLOBAL OFFERING                                                           
                                                                              
    Number of Offer Shares under the Global Offering        :                 
            2,972,912,000 H Shares (comprising 2,702,648,000                  
    H Shares                                                                  
              being offered for subscription by the Company and               
              270,264,000 H Shares being offered for sale                     
              by the Selling Shareholders,                                    
              each subject to the Over-allotment Option)                      
    Number of Hong Kong Offer Shares        :       297,292,000 H             
    Shares                                                                    
    Number of International Offering Shares :                                 
            2,675,620,000 H Shares (subject to the                            
    Over-allotment Option)                                                    
    Hong Kong Offer Price   :       HK$1.70 per Hong Kong Offer               
    Share, excluding brokerage                                                
              of 1%, SFC transaction levy of 0.005%, investor                 
              compensation levy of 0.002%, and Stock Exchange                 
              trading fee of 0.005%                                           
    Nominal value   :       RMB1.00 per Share                                 
    Stock code      :       2727                                              
                                                                              
    Sole Global Coordinator, Sole Bookrunner, Sole Lead                       
    Manager and Sole Sponsor                                                  
    Credit Suisse First Boston (Hong Kong) Limited                            
                                                                              
    SUMMARY                                                                   
    *       The Offer Price has been determined at HK$1.70 per                
    Hong Kong Offer Share (excluding brokerage of 1%, SFC                     
    transaction levy of 0.005%, investor compensation                         
    levy of 0.002%, and Stock Exchange trading fee of                         
    0.005%).                                                                  
                                                                              
    *       A total of 10,651 valid applications have been                    
    received pursuant to the Hong Kong Public Offering                        
    for a total of 3,480,698,000 Hong Kong Offer Shares,                      
    equivalent to approximately 11.71 times of the total                      
    number of 297,292,000 H Shares initially available                        
    for subscription under the Hong Kong Public Offering.                     
                                                                              
    *       The H Shares initially offered under the                          
    International Offering have been over-subscribed.                         
    Indications of interest received under the                                
    International Offering represent approximately 4                          
    times of the total number of 2,675,620,000 H Shares                       
    initially available for subscription under the                            
    International Offering.                                                   
                                                                              
    *       The number of H Shares comprised in the                           
    International Offering is 2,675,620,000 H Shares                          
    which were allocated in full (subject to the                              
    Over-allotment Option).                                                   
                                                                              
    *       Wholly or partially successful applicants who have                
    applied for 1,000,000 Hong Kong Offer Shares or more                      
    under the Hong Kong Public Offering using WHITE                           
    Application Forms and who have indicated in their                         
    Application Forms that they wish to collect their                         
    share certificates in person may do so from the H Share                   
    Registrar, Computershare Hong Kong Investor Services                      
    Limited, at Shops 1712-1716, 17th Floor, Hopewell                         
    Centre, 183 Queen's Road East, Wan Chai, Hong Kong                        
    from 9:00 a.m. to 1:00 p.m. on Wednesday, 27 April                        
    2005. Share certificates for Hong Kong Offer Shares                       
    allocated to wholly or partially successful                               
    applicants using WHITE