ZHEJIANG EXPRESSWAY CO LD: Result of EGM

Zhejiang Expressway Co., Ltd.                         
 (A joint stock limited company incorporated in the People´s Republic of China 
                            with limited liability)                            
                              (Stock code: 0576)                               
                                              
                                
                 Announcement on Resolutions Passed at the EGM                 

Results of EGM

Zhejiang Expressway Co., Ltd. (the "Company") held an extraordinary general
meeting (the "EGM") at 9:00 a.m. on Tuesday, October 30, 2007 at 12th Floor,
Block A, Dragon Century Plaza, 1 Hangda Road, Hangzhou, Zhejiang Province
310007, the People's Republic of China (the "PRC").

Four shareholders of the Company (the "Shareholders") attended the EGM by
proxy, representing a total of 3,536,880,328 shares of the Company entitled to
attend and to vote at the EGM, or 81.4% of total issued share capital of the
Company. Chairman of the Company, Mr. Geng Xiaoping, chaired the EGM. Votings
at the EGM took place by way of poll, with all the proposed resolutions duly
passed, details of which are as follows:

1. Resolved to approve the payment of an interim dividend of Rmb7.0 cents
   per share in respect of the six months ended June 30, 2007, with 3,536,872,328
   shares voted in the affirmative (representing 100% of the total shares held by
   the Shareholders present at the EGM) and no shares voted in the negative;

2. Resolved to approve the re-appointment of Deloitte Touche Tohmatsu
   Certified Public Accountants Hong Kong as the Hong Kong auditor of the Company,
   and authorizing the board of directors of the Company to fix their
   remuneration, with 3,536,880,328 shares voted in the affirmative (representing
   100% of the total shares held by the Shareholders present at the EGM) and no
   shares voted in the negative; and

3. Resolved to approve the re-appointment of Zhejiang Pan China Certified
   Public Accountants as the PRC auditor of the Company, and authorizing the board
   of directors of the Company to fix their remuneration, with 3,536,880,328
   shares voted in the affirmative (representing 100% of the total shares held by
   the Shareholders present at the EGM) and no shares voted in the negative.

The total number of issued shares of the Company entitling the holders to
attend and vote at the EGM in respect of the resolutions was 4,343,114,500.
There was no share entitling any holder to attend and vote only against the
resolutions at the EGM. Mr. Qian Wang of Deloitte Touche Tohmatsu Certified
Public Accountants, the Company´s auditors, was appointed and acted as
scrutineer for the vote taking during the EGM. No person was required to
abstain from voting at the EGM in relation to the above.

Further information on the payment of interim dividend

The payment of an interim dividend of Rmb7.0 cents per share in respect of the
six months ended June 30, 2007 was approved following approval by more than
half of votes cast by the Shareholders at the EGM. Shareholders whose names
appeared in the register of members of the Company on October 5, 2007 are
entitled to the said interim dividend.

Pursuant to the Company's articles of association, dividends of H Shares shall
be paid in Hong Kong dollars according to the average closing price of Hong
Kong dollars to Renminbi declared by the People's Bank of China in the five
trading days immediately preceding the date of the declaration of dividends.
The applicable exchange rate for the purpose of the payment of the interim
dividend is therefore HK$1.00 to Rmb0.9633. The interim dividend of HK$7.267
cents per share is expected to be paid to shareholders of the H Shares of the
Company on November 21, 2007.

                                                    By order of the Board
                                                     ZHANG Jingzhong
                                                     Company Secretary

                                                                          
Hangzhou, the PRC, October 30, 2007

As at the date of this announcement, the executive directors of the Company
are: Messrs. Geng Xiaoping, Fang Yunti, Zhang Jingzhong and Jiang Wenyao; the
non-executive directors are: Messrs. Zhang Luyun and Zhang Yang; and the
independent non-executive directors are: Messrs. Tung Chee Chen, Zhang Junsheng
and Zhang Liping.  

END