CK Asset Holdings Limited — Proxy Solicitation & Information Statement 2007

May 11, 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 Annual 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 ANNUAL GENERAL MEETING / [(note 3)] of

as my/our proxy to attend and vote on my/our behalf at the Annual General Meeting (“AGM”) 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 9:30 a.m. on 28 June 2007 in respect of the resolutions listed in the notice of the AGM as indicated hereunder. Failure to complete the boxes will entitle my/our proxy to vote or abstain at his/her own discretion.

RESOLUTIONS	RESOLUTIONS	FOR(Note 4)	AGAINST(Note 4)
1.	To consider and approve the work report of the Board for 2006.
2.	To consider and approve the work report of the Supervisory Committee ofthe Company for 2006.
3.	To consider and approve the audited financial statements of the Companyfor 2006.
4.	To consider and approve the proposed profit distribution of the Company for2006.
5.	To consider and approve the Company’s budget for 2007.
6.	To consider and approve the appointment of Deloitte Touche Tohmatsu CPALtd. as the Company’s PRC auditors for 2007 and to authorize the Boardand the Audit Committee to determine its remunerations.
7.	To consider and approve the appointment of PricewaterhouseCoopersCertified Public Accountants as the Company’s international auditors for2007 and to authorise the Board and the Audit Committee to determine itsremunerations.
8.	To consider and approve the remunerations for independent non-executiveDirectors.
9.	To consider and approve the proposed amendment of Articles of Associationof the Company.
10.	To consider and approve any other businesses.

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 ANNUAL 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 AGM. 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 AGM 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 AGM or any adjournment thereof should you so wish.