CMON Limited — Board/Management Information 2001

Mar 26, 2001

Shenyang Public Utility Holdings Company Limited

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

Resignation of Directors, Supervisor and Appointment of

Directors, Supervisor

The board of directors (the "Board") of Shenyang Public Utility Holdings Company Limited (the "Company") announces that Ms. Li Xiao Yang has tendered her resignation as an executive director of the Company with effect from 23rd March, 2001, Mr. Xu Ji Liang has tendered his resignation as an independent non-executive director of the Company with effect from 23rd March, 2001 and Mr. Geng Jian Wei has tendered his resignation as a supervisor of the Company with effect from 23rd March, 2001.

The Board would like to express its sincere appreciation to Ms. Li Xiao Yang, Mr. Xu Ji Liang and Mr. Geng Jian Wei for their valuable contributions during their terms of office with the Company.

The Board also wishes to announce a resolution that its controlling shareholder, Shenyang Public Utility Group Company Limited has proposed the appointment of Mr. Geng Jian Wei, Mr. Choy Shu Kwan, Wilson, and Cai Hong Yuan as an executive director, an independent non-executive director and a supervisor of the Company respectively at the forthcoming 2000 Annual General Meeting ("AGM") to be convened at the Conference Room of the Company's premises at Level 9, Shenyang Golden International Tower, 355 Zhong Shan Road, Shenhe District Shenyang, the People's Republic of China ("PRC") on Friday, 11th May, 2001 at 9:00 a.m.

Mr. Gang Jian Wei, aged 32, engineer, is the assistant to the president of the Company. He graduated from Tianjin University with two bachelor's degrees in materials engineering and technological economics respectively in 1990 and subsequently obtained a master degree in materials engineering from Tianjin University in 1993. He joined Shenyang Construction Investment Company in 1994 as the deputy division chief. Mr. Geng has nearly 5 years' experience in project management and evaluation.

Mr. Choy Shu Kwan, Wilson, aged 46, is the Managing Director of Ka Wah Capital Limited and director of the Ka Wah Five Arrows China Hong Kong Fund Limited. He graduated from the University of Western Ontario in Canada with bachelor degree in business administration in 1979. Mr. Choy has been working in world famous banks for many years and has rich experience in financial services business and investment management.

Mr. Cai Hong Yuan, aged 53, senior engineer, joined the Company in January 2001. He graduated from Shenyang Architectural Engineering Institute in 1982 with a bachelor degree in engineering. He has been the deputy manager of Shenyang Water Corporation, deputy general manager of Shenyang Water General Corporation and the deputy director of Shenyang Hunnan Development Zone. Mr. Cai has rich experience in corporate financial management and water supply enterprise management. He has work experience in an international water corporation.

Details of other ordinary resolutions to be approved in the AGM are set out in the Notice of AGM in the announcement of the Company dated 23rd March, 2001 and in the 2000 Annual report of the Company.

By Order of the Board

Wang Se

Company Secretary

Shenyang, the PRC, 23rd March, 2001