09:24     GUANGZHOU PHAR<00874> - Unusual price & volume movements            

    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 board of directors (the "Director") have noted the recent increase in 
    the price of the shares and increase of trading volume 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.        
                                                                              
    Save as the announcement issued by the Company regarding the continuing   
    connected transaction dated 27 April 2005, 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.                                                   
                                                                              
    The Directors collectively and individually accept responsibility for the 
    accuracy of this announcement.                                            
                                                                              
                                                                              
    By order of the Board                                                     
    Guangzhou Pharmaceutical Company Limited                                  
                                                                              
    He Shuhua                                                                 
    Company Secretary                                                         
                                                                              
    Guangzhou, the People's Republic of China, 28 April 2005                  
                                                                              
    As at the date of this announcement, the Board comprises Mr. Yang         
    Rongming, Mr. Zhou Yuejin, and Mr. Feng Zansheng as executive Directors,  
    and Mr. Wu Zhang, Mr. Wong Hin Wing and Mr. Zhang Heyong as independent   
    non-executive Directors."