CK Asset Holdings Limited — Proxy Solicitation & Information Statement 2005

Dec 8, 2005

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(a joint stock limited company incorporated in the People’s Republic of China)

(Stock Code: 525)

Proxy form for use by shareholders at the extraordinary general meeting

Number of shares to which this proxy form relates: [(Note 1)]

I/We [(Note 2)]

of

being the registered shareholder of Guangshen Railway Company Limited (the “Company”) hereby appoint THE CHAIRMAN

OF THE EXTRAORDINARY GENERAL MEETING /

(Note 3)

of

as my/our proxy to attend and vote on my/our behalf at the extraordinary general meeting (“EGM”) of the Company (or any adjournment thereof) to be held at the Meeting Room of the Company at 3/F., No. 1052 Heping Road, Shenzhen, Guangdong Province, the People’s Republic of China, at 10:30 a.m. on 20 January 2006 (or immediately after the conclusion or adjournment of the H Shares Shareholders class meeting) in respect of the resolutions set out in the notice convening the EGM as hereunder indicated, and if no indication is given, as my/our proxy thinks fit or abstains at his/her own discretion.

SPECIAL RESOLUTION	FOR (Note 4)	AGAINST(Note 4)
To approve the A Share Issue_(Note 7)_
ORDINARY RESOLUTION	FOR (Note 4)	AGAINST(Note 4)
To authorise the Board to handle all matters in connection with the A Share
Issue

Date:

Signature:

[(Note 5)]

Notes:

1. Please fill in the number of shares in the Company registered in your name to which this proxy form relates. Failure to fill in the number of shares will result in this proxy form being deemed to relate to all shares in the Company registered in your name.

2. Full name(s) and address(es) must be inserted in BLOCK LETTERS .

3. If any proxy other than the chairman is preferred, strike out “ THE CHAIRMAN OF THE EXTRAORDINARY GENERAL MEETING/ ” and insert the name and address of the proxy you intend to appoint in the space provided. A shareholder is entitled to appoint one or more proxies to attend and vote at the EGM. The proxy or proxies need not be a member of the Company. Any alteration made to this proxy form must be signed by the person who signs it.

4. IMPORTANT: IF YOU WISH TO VOTE FOR ANY RESOLUTION, PUT A “ ” IN THE BOX MARKED “FOR”. IF YOU WISH TO VOTE AGAINST ANY RESOLUTION, PUT A “ ” IN THE BOX MARKED “AGAINST”. Failure to complete the boxes will entitle your proxy to cast your vote(s) or abstain at his/her discretion.

5. This proxy form must be signed by you or your attorney duly authorised in writing (in which case the written authority appointing such attorney has to be notarially certified) or, if the appointor is incorporation, this proxy form must be executed under its common seal or under the hand of a director or an attorney of the corporation duly authorised in writing.

6. To be valid, this proxy form, together with any notarially certified copy of the power of attorney or any other authority under which the proxy form is signed must be lodged with the Secretariat of the Board of Directors of the Company at No. 1052 Heping Road, Shenzhen, Guangdong Province, the People’s Republic of China not less than 24 hours before the commencement of the EGM or any adjournment thereof (as the case may be).

7. These terms are defined in the notice convening the EGM.