CK Asset Holdings Limited — Proxy Solicitation & Information Statement 2007

Nov 9, 2007

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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 3rd Floor, No. 1052 Heping Road, Shenzhen, Guangdong Province, the People’s Republic of China, at 9:30a.m. on 27 December 2007 in respect of the resolution listed in the notice of the EGM as indicated hereunder. Failure to complete the boxes will entitle my/our proxy to vote or abstain at his/her own discretion.

		RDINARY GENERAL MEETING/_(note 3)_of	RDINARY GENERAL MEETING/_(note 3)_of
		proxy to attend and vote on my/our behalf at the Extraordinary General Meeting (“EGM”) of the Company (or any adjournment
		o be held at the Meeting Room of the Company at 3rd Floor, No. 1052 Heping Road, Shenzhen, Guangdong Province, the People’sof China, at 9:30a.m. on 27 December 2007 in respect of the resolution listed in the notice of the EGM as indicated hereunder.complete the boxes will entitle my/our proxy to vote or abstain at his/her own discretion.
		RESOLUTIONFOR(Note 4)AGAINST(Note 4)pprove the proposed revision of the annual cap for the financial year ending 31 December 2007 intion to the continuing connected transactions under the comprehensive services agreement datedNovember 2004 entered into between the Company and Guangzhou Railway Group Yang Chengway Industrial Company（廣州鐵路集團羊城鐵路實業發展總公司）from RMB 260 million to RMBmillion, and to authorise any one director of the Company to do all such further acts and thingsexecute all such further documents and take all such steps as he or she may consider necessary,rable or expedient to implement and/or give effect to such revision.pprove, confirm and ratify the comprehensive services agreement dated 5 November 2007 enteredbetween the Company and Guangzhou Railway (Group) Company（廣州鐵路（集團）公司）( thew GR Comprehensive Services Agreement”), the continuing connected transactions referred toein, together with the proposed annual caps in relation to the continuing connected transactionseach of the three financial years ending 31 December 2010, and to authorise any one director of thepany to do all such further acts and things and execute all such further documents and take allsteps as he or she may consider necessary, desirable or expedient to implement and/or give effecthe terms of the New GR Comprehensive Services Agreement, the related continuing connectedsactions and/or the annual caps.pprove, confirm and ratify the conditional comprehensive services agreement dated 5 November7 entered into between the Company and Guangzhou Railway Group Yang Cheng Railwaystrial Company（廣州鐵路集團羊城鐵路實業發展總公司）( the “New YC Comprehensive Serviceseement”), the continuing connected transactions referred to therein, together with the proposedual caps in relation to the continuing connected transactions for each of the three financial yearsng 31 December 2010, and to authorise any one director of the Company to do all such furtherand things and execute all such further documents and take all such steps as he or she maysider necessary, desirable or expedient to implement and/or give effect to the terms of the New YCprehensive Services Agreement, the related continuing connected transactions and/or the annual.pprove, confirm and ratify the conditional comprehensive services agreement dated 5 November7 entered into between the Company and Guangshen Railway Enterprise Development Company深鐵路實業發展總公司）(the “New GS Comprehensive Services Agreement”), the continuingnected transactions referred to therein, together with the proposed annual caps in relation to theinuing connected transactions for each of the three financial years ending 31 December 2010,to authorise any one director of the Company to do all such further acts and things and executesuch further documents and take all such steps as he or she may consider necessary, desirablexpedient to implement and/or give effect to the terms of the New GS Comprehensive Serviceseement, the related continuing connected transactions and/or the annual caps.
DateNotes:	:	2007Signature	(Note 5)

Date:	2007	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 aforesaid 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, PLACE A “ ✓ ” IN THE BOX MARKED “FOR”. IF YOU WISH TO VOTE AGAINST ANY RESOLUTION, PLACE AN “ ✓ ” IN THE BOX MARKED “AGAINST”. Failure to complete the above-mentioned 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 authorized in writing (in which case the written authority appointing such attorney has to be notarially certified) or, if the appointor is corporation, this proxy form must be executed under its common seal or under the hand of a director or an attorney of the corporation duly authorized 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 at 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. Completion and delivery of this proxy form will not preclude you from attending and voting at the EGM or any adjournment thereof should you so wish.