09:51 COSCO INTL HOLD<00517> - Announcement (7) "Company" COSCO International Holdings Limited, a company incorporated in Bermuda with limited liability, the shares of which are listed on the Stock Exchange "Continuing Connected Transactions" the continuing connected transactions between the Kansai Companies and the Kansai Group and the COSCO Group respectively as set out in the paragraph headed "Continuing Connected Transactions" "COSCO" (China Ocean Shipping (Group) Company), a company incorporated in the PRC and the ultimate beneficial owner holding approximately 58.53% equity interest in the Company "COSCO Group" COSCO and its subsidiaries "COSCO Hong Kong" COSCO (Hong Kong) Group Limited, the beneficial owner holding approximately 58.53% equity interest in the Company "Directors" the directors of the Company "Group" the Company and its subsidiaries "HK$" Hong Kong dollars, the lawful currency of Hong Kong "Independent Shareholder(s)" Shareholder(s) other than COSCO, True Smart and any of their respective associates "Japan Kansai" Kansai Paint Co., Ltd. (\raster(58%,p)="c03"), a company registered in Osaka, Japan, beneficial owner of 35.29% equity interest in each of Shanghai Kansai and Tianjin Kansai "Kansai Companies" Shanghai Kansai and Tianjin Kansai "Kansai Group" Japan Kansai, its subsidiaries and its associates "Listing Rules" The Rules Governing the Listing of Securities on the Stock Exchange "NKM" NKM Coatings Co. Ltd., a company registered in Kyoto, Japan and Japan Kansai held more than 30% of its equity interest "Previous Waiver" the waiver granted by the Stock Exchange on 18th February 2004 to the Company in respect of the ongoing connected transactions between the Kansai Companies and the Kansai Group and the COSCO Group "SGM" a special general meeting of the Company to be held to approve the Continuing Connected Transactions "Shanghai Kansai" Shanghai COSCO Kansai & Chemicals Co., Ltd. (\raster(58%,p)="c04"), a sino-foreign equity joint venture under the laws of the PRC which is owned, among others, as to 63.07% equity interest by the Company and 35.29% equity interest by Japan Kansai "Shareholder(s)" the holder(s) of the share(s) of the Company "Stock Exchange" The Stock Exchange of Hong Kong Limited "Tianjin Kansai" Tianjin COSCO Kansai Paint & Chemicals Co., Ltd. (\raster(58%,p)="c05"), a sino-foreign equity joint venture established under the laws of the PRC which is owned, among others, as to 63.07% equity interest by the Company and 35.29% equity interest by Japan Kansai "True Smart" True Smart International Limited, a company incorporated under the laws of British Virgin Islands and a wholly owned subsidiary of COSCO , which holds 58.53% equity interest in the Company By Order of the Board COSCO International Holdings Limited LIU Hanbo Managing Director Hong Kong, 25th May 2005 As at the date hereof, the Board comprises fourteen directors of which Mr. Wei Jiafu (Chairman), Mr. Liu Guoyuan (Vice-chairman), Mr. Li Jianhong, Mr. Zhou Liancheng, Mr. Liu Hanbo (Managing Director), Mr. He Jiale, Mr. Guo Huawei, Mr. Chen Pisen, Mr. Meng Qinghui, Mr. Zhao Kaiji and Mr. Lin Libing as executive directors and Mr. Chan Cheong Foon, Andrew, Mr. Kwong Che Keung, Gordon and Mr. Tsui Yiu Wa, Alec as independent non-executive directors.