COSCO SHIPPING Development Co., Ltd. — Capital/Financing Update 2007

Dec 3, 2007

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.

This announcement does not constitute, or form part of, an offer or invitation, or solicitation or inducement of an offer, to subscribe for or purchase any of the A Shares or other securities of the Company, nor is this announcement calculated to invite offers for any Shares or other securities of the Company.

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

(Stock Code: 2866)

DETERMINATION OF THE OFFER PRICE RANGE FOR THE A SHARE ISSUE

This announcement is made pursuant to Rule 13.09(1) of the Listing Rules.

The Board is pleased to announce that the offer price range for the A Share Issue has been set at RMB6.00 to RMB6.62 per A Share (both prices inclusive).

This announcement is made pursuant to Rule 13.09(1) of the Listing Rules.

Reference is made to the Company’s announcements dated 9 August 2007, 19 November 2007 and 27 November 2007 and the circular to Shareholders dated 15 August 2007 in respect of the A Share Issue. Unless otherwise indicated, capitalised terms used in this announcement shall have the same meanings as those defined in the said announcements and circular.

The Board is pleased to announce that, following the completion of preliminary market consultation with price consultation parties conducted from 28 November 2007 to 30 November 2007 (both days inclusive) in the PRC, the Company and the joint sponsors (lead underwriters) of the A Share Issue have set an offer price range for the A Share Issue at RMB6.00 to RMB6.62 per A Share (both prices inclusive).

An announcement regarding the offer price range for the A Share Issue will be published in three PRC newspapers, namely, the China Securities Journal, Shanghai Securities News and Securities Times on 4 December 2007.

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The above price range was determined based on various considerations, including the results of the preliminary price consultation, the fundamentals of the Company, the traded price of the H Shares, valuation of comparable companies and market conditions. The Company will issue an announcement once the offer size and the offer price for the A Share Issue have been determined.

By order of the Board of China Shipping Container Lines Company Limited Ye Yumang Company Secretary

Shanghai, the People’s Republic of China 3 December 2007

The Board as at the date of this announcement comprises of Mr. Li Shaode, Mr. Zhang Guofa, Mr. Huang Xiaowen and Mr. Zhao Hongzhou, being executive Directors, Mr. Ma Zehua, Mr. Zhang Jianhua, Mr. Wang Daxiong, Mr. Yao Zuozhi and Mr. Xu Hui, being non-executive Directors, and Mr. Hu Hanxiang, Mr. Jim Poon (also known as Pan Zhanyuan), Mr. Wang Zongxi, Mr. Shen Kangchen and Mr. Shen Zhongying, 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”.

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