09:24     CHINA AEROSPACE<00031> - Announcement                               

    The Stock Exchange of Hong Kong Limited takes no responsibility for the   
    contents of this announcement, makes no representations 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 AEROSPACE INTERNATIONAL HOLDINGS LIMITED                            
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 31)                                                          
                                                                              
    DELAY IN DESPATCH OF CIRCULAR                                             
    MAJOR TRANSACTION - DISPOSAL OF PROPERTY                                  
                                                                              
    Despatch of the Circular to the Shareholders in relation to the major     
    transaction will be delayed from 30 May 2005 to no later than 13 June     
    2005.                                                                     
                                                                              
    Reference is made to announcement of China Aerospace International        
    Holdings Limited (the "Company") dated 9 May 2005 (the "Announcement")    
    in relation to a disposal of property that constituted a major            
    transaction. Unless otherwise stated, capitalised terms used herein       
    shall have the meanings ascribed to them in the Announcement.             
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, the Company is required to   
    despatch the Circular to the Shareholders within 21 days after the date   
    of publication of the Announcement, which is on or before 30 May 2005.    
    However, additional time is required by the Company to finalise figures   
    on the indebtedness statement and the statement of the sufficiency of     
    working capital to be included in the Circular of the Company, the        
    Company has applied to the Stock Exchange for a waiver for the delay in   
    the despatch of the Circular, which shall take place no later than 13     
    June 2005.                                                                
                                                                              
    By order of the Board                                                     
    Rui Xiaowu                                                                
    Chairman                                                                  
                                                                              
    Hong Kong, 30 May 2005                                                    
                                                                              
    As at the date of this announcement, the Board comprises Mr. Rui          
    Xiaowu, Mr. Zhao Liqiang, Mr. Zhou Qingquan, Mr. Zhao Yuanchang, Mr. Wu   
    Hongju and Mr. Guo Xianpeng as Executive Directors, Mr. Li Jinsheng,      
    Mr. Xu Shilong, Mr. Chen Dingyi and Ms. Chan Ching Har, Eliza as          
    Non-Executive Directors, Mr. Lee Hung Sang, Mr. Chow Chan Lum, Charles    
    and Mr. Luo Zhenbang as Independent Non-Executive Directors.