09:02     CHINA SOUTH AIR<01055> - Announcement                               

    The Stock Exchange of Hong Kong Limited takes no responsibility for the   
    contents of this announcement, makes no representation as to its          
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon the    
    whole or any part of the contents of this announcement.                   
                                                                              
    CHINA SOUTHERN AIRLINES COMPANY LIMITED                                   
    (a joint stock limited company incorporated in the People's Republic of   
    China with limited liability)(Stock Code: 1055)                           
                                                                              
    MAJOR TRANSACTION                                                         
    DELAY IN DESPATCH OF CIRCULAR                                             
                                                                              
    Reference is made to the announcements of the Company published in the    
    newspaper on April 22, 2005 and May 17, 2005 in connection with the       
    Airbus Aircraft Acquisition Agreement and the Transaction contemplated    
    therein, which constitutes a major transaction of the Company under the   
    Listing Rules. The Circular was despatched to the shareholders of the     
    Company on May 30, 2005.                                                  
                                                                              
    Reference is made to the announcement of the Company published in the     
    newspaper on April 22, 2005 (the "Announcement") in connection with the   
    Airbus Aircraft Acquisition Agreement and the Transaction contemplated    
    therein, which constitutes a major transaction of the Company under the   
    Listing Rules. Unless otherwise defined herein, all capitalized terms     
    used herein shall have the same meanings as defined in the                
    Announcement.                                                             
                                                                              
    In accordance with Rules 14.38 and 14.40 of the Listing Rules, a          
    circular (the "Circular") setting out the details of the Transaction      
    was to be despatched to shareholders on or before May 13, 2005. As        
    disclosed in the announcement of the Company published in the newspaper   
    on May 17, 2005, the Company applied to the Stock Exchange for an         
    extension of time for despatch of the Circular to a date on or before     
    May 27, 2005 (the "Second Announcement").                                 
                                                                              
    Subsequent to the publication of the Second Announcement, additional      
    time was required to update and finalise the Circular. The Company        
    therefore applied to the Stock Exchange for a further extension of time   
    for despatch of the Circular to its shareholders from May 27, 2005 to     
    May 30, 2005.                                                             
                                                                              
    The Circular was finalized and despatched to the shareholders of the      
    Company on May 30, 2005.                                                  
                                                                              
    By order of the Board                                                     
    Su Liang                                                                  
    Company Secretary                                                         
                                                                              
    Guangzhou, the People's Republic of China                                 
    May 30, 2005                                                              
                                                                              
    As at the date of this announcement, the Directors of the Company         
    include Liu Shao Yong, Liu Ming Qi, Peng An Fa, Wang Quan Hua, Zhao Liu   
    An, Zhou Yong Qian, Zhou Yong Jin, Xu Jie Bo, Wu Rong Nan and Si Xian     
    Min as executive Directors; and Simon To, Peter Lok, Wei Ming Hai, Wang   
    Zhi and Sui Guang Jun as independent non-executive Directors.