COSCO SHIPPING Development Co., Ltd. — Board/Management Information 2006

Jun 30, 2006

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(A joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 2866)

CLARIFICATION ANNOUNCEMENT

The board of directors (the “Board”) of China Shipping Container Lines Company Limited (the “Company”) refers to the announcement of the Company dated 28 June 2006 in relation to the resignation of existing Chairman and appointment of new Chairman and a Vice Chairman of the Company (the “Announcement”), the English version of which was published in the South China Morning Post and the Chinese version of which was published in the Hong Kong Economic Times on 29 June 2006. Unless the context otherwise requires, terms and expressions defined in the Announcement shall have the same meanings when used in this announcement.

Contrary to the statement in the Announcement that Mr. Zhang has not held any directorship in listed public companies in the last three years, the Board would like to clarify that from 26 May 2006 till now, Mr. Zhang has been an executive director of China Shipping Development Co., Ltd, a listed public company whose H shares and A shares are listed on the Stock Exchange and Shanghai Stock Exchange respectively and a subsidiary of China Shipping. Saved as disclosed above, Mr. Zhang has not held any directorship in listed public companies in the last three years, has no other major appointments and qualifications, and is not connected with any directors, senior management or substantial or controlling shareholders of the Company.

The Company wishes to apologise for any inconvenience so caused. Shareholders of the Company are advised to exercise caution when reading the Announcement.

By order of the Board of China Shipping Container Lines Company Limited Li Shaode Chairman

Shanghai, the People’s Republic of China 29 June 2006

The Board as at the date of this announcement comprises of Mr. Li Shaode, Mr. Jia Hongxiang, Mr. Huang Xiaowen and Mr. Zhao Hongzhou, being executive directors, Mr. Li Kelin, Mr. Zhang Jianhua, Mr. Wang Daxiong, Mr. Zhang Guofa and Mr. Xu Hui, being non-executive directors, and Mr. Hu Hanxiang, Mr. Gu Nianzu, Mr. Wang Zongxi and Mr. Lam Siu Wai, Steven, being independent non-executive directors.

* The Company is registered as an oversea company under Part XI of the Companies Ordinance (Chapter 32 of the Laws of Hong Kong) under its Chinese name and the English name “China Shipping Container Lines Company Limited”.

“Please also refer to the published version of this announcement in SCMP.”