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

Nov 27, 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)

CSRC APPROVAL OF THE A SHARE ISSUE AND COMMENCEMENT OF PRICE CONSULTATION 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 Company has on 27 November 2007 obtained the CSRC’s approval of its application to proceed with the A Share Issue. The A Share Issue will comprise the issue of not more than 2,336,625,000 A Shares in the PRC.

Pursuant to the requirements of the applicable PRC laws and regulations, the Company and the joint sponsors (lead underwriters) of the A Share Issue will conduct preliminary market consultation with price consultation parties from 28 November 2007 to 30 November 2007 (both days inclusive) in the PRC in order to determine the offer price range.

It is currently expected that the updated draft Prospectus and its summary will be made available on the Shanghai Stock Exchange’s website and the Hong Kong Stock Exchange’s website after close of trading on the Hong Kong Stock Exchange on the date of this announcement. The summary of the updated draft Prospectus will be published in several PRC newspapers and the Company’s website on the following day.

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 and 19 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 the Company has on 27 November 2007 obtained the CSRC’s approval of its application to proceed with the A Share Issue. The A Share Issue will comprise the issue of not more than 2,336,625,000 A Shares in the PRC.

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Pursuant to the requirements of the applicable PRC laws and regulations, the Company and the joint sponsors (lead underwriters) of the A Share Issue will conduct preliminary market consultation with price consultation parties from 28 November 2007 to 30 November 2007 (both days inclusive) in the PRC in order to determine the offer price range. The Company and the joint sponsors (lead underwriters) will, based on the results of the book-building price consultation process, determine the exact number of A Shares to be issued and the offer price within the offer price range. The Company will issue an announcement once the offer size and the offer price for the A Share Issue have been determined.

It is currently expected that the updated draft Prospectus and its summary will be made available on the Shanghai Stock Exchange’s website and the Hong Kong Stock Exchange’s website after close of trading on the Hong Kong Stock Exchange on the date of this announcement. The summary of the updated draft Prospectus will be published in several PRC newspapers including the China Securities Journal, Shanghai Securities News and Securities Times and the Company’s website on the following day.

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

Shanghai, the People’s Republic of China 27 November 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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