COSCO SHIPPING Development Co., Ltd. — Capital/Financing Update 2004

Jul 14, 2004

This announcement is for information purpose only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities. This announcement is made pursuant to the requirement under Section 9(2) of the Securities and Futures (Price Stabilizing) Rules.

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.

Unless otherwise defined herein or the context otherwise requires, terms used in this announcement shall have the same meanings as defined in the prospectus dated 4th June, 2004 (the “Prospectus”) issued by China Shipping Container Lines Company Limtied (the “Company”).

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China Shipping Container Lines Company Limited[*]

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

(Stock Code: 2866)

STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

SUMMARY

• The Company announces that the stabilization period in connection with the Share Offer ended on 9th July, 2004.

• Stabilizing actions were undertaken during the stabilization period with a number of purchases of additional H Shares in a price range between HK$2.525 and HK$3.175 per H Share.

The Company announces that the stabilization period in connection with the Share Offer ended on 9th July, 2004. As advised by BNP Paribas Peregrine Capital Limited, as stabilizing manager for the Share Offer (the “Stabilizing Manager”), stabilizing actions were undertaken during the stabilization period with a number of purchases of additional H Shares in a price range between HK$2.525 and HK$3.175 per H Share. Also, as advised by the Stabilizing Manager, the date of the last purchase of H Shares made in the course of the stabilizing actions was 24th June, 2004 and such purchase was made at a price of HK$2.775 per H Share.

The Over-allotment Option as referred to in the Prospectus was not exercised.

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

PRC, 13th July, 2004

As at the date of this announcement, the Directors are Li Kelin, Jia Hongxiang, Li Shaode, Zhang Jianhua, Wang Daxiong, Wang Xiangyun, Hu Hanxiang, Gu Nianzu, Wang Zongxi and Lam Siu Wai, Steven.

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

Please also refer to the published version of this announcement in South China Morning Post.

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