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

Jun 12, 2007

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

(Stock Code: 2866)

DOMESTIC CORPORATE BONDS ISSUE

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

The Board is pleased to announce that the Company has obtained the approval from the NDRC on 11 June 2007 to issue the Bonds, which was offered by the Company on 12 June 2007.

This announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).

Reference is made to: (1) the announcement dated 28 August 2006 of China Shipping Container Lines Company Limited (the “ Company ”) in relation to the approval by the shareholders of the Company at a special general meeting held on even date granting an unconditional general mandate to the board of directors (the “ Board ”) of the Company to issue bonds of the Company in an aggregate principal amount of up to RMB3.5 billion (equivalent to approximately HK$3.5 billion); and (2) the Company’s announcement dated 26 March 2007 in relation to the details of the proposed issue of RMB1.8 billion (equivalent to approximately HK$1.8 billion) of domestic corporate bonds (the “ Bonds ”) by the Company in the PRC (excluding Hong Kong Special Administrative Region of the People’s Republic of China (“ PRC ”), the Macau Special Administrative Region of the PRC and Taiwan) (“ Mainland China ”).

The Board is pleased to announce that the Company has obtained the approval from the National Development and Reform Commission of the PRC (the “ NDRC ”) on 11 June 2007 to issue the Bonds, which was offered by the Company on 12 June 2007, in accordance with the arrangements as disclosed in the Company’s said announcement dated 26 March 2007 (save as otherwise stated herein pursuant to subsequent determination of the following key information by the Company following the said grant of approval by the NDRC):

1. Coupon rate

The Bonds have a fixed interest rate of 4.51% per annum.

1. Interest calculation period From 12 June 2007 to 11 June 2017.

2. First date of offer 12 June 2007.

3. Offer period Five (5) working days from 12 June 2007 to 18 June 2007.

4. First date of interest payment 12 June every year from 2008 to 2017. If the date falls on a public holiday or non-working day, the date shall be postponed to the subsequent working day.

5. Period of interest payment

Twenty (20) working days from 12 June every year from 2008 to 2017.

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1. First date of principal payment

2. 12 June 2017. If the date falls on a public holiday or non-working day, the date shall be postponed to the subsequent working day.

3. Period of principal payment

Twenty (20) working days from 12 June 2017.

1. Credit ratings

The corporate bond credit rating for the Bonds is AAA, and the corporation entity credit rating for the Bonds is AA+, based on the overall assessment conducted by China Lianhe Credit Rating Co., Ltd (聯合資信評估有限公司 ).

1. Underwriters

2. (i) Lead underwriters: Guotai Junan Securities Co., Ltd. (國泰 君安証券股份有限公司 ) and China Euro Securities Ltd. (華歐國際証券有限責任公司);

3. (ii) Co-lead underwriters: China Development Bank (國家開發 銀行 ), BOC International (China) Limited (中銀國際証券 有限責任公司 ) and China Galaxy Securities Company Limited (中國銀河証券股份有限公司 ); and

4. (iii) Sub-underwriters: Sealand Securities Co., Ltd. (國海証券有 限責任公司 ), New China Trust & Investment Co., Ltd. (新 華信託投資股份有限公司 ), Daiwa SMBC-SSC Securities Co., Ltd. (海際大和証券有限責任公司 ), Minsheng Securities Co., Ltd. (民生証券有限責任公司 ), Everbright Securities Co., Ltd. (光大証券股份有限公司 ), SDIC Trust & Investment Co., Ltd. (國投信託投資有限公司 ) and Fortune Securities Co., Ltd. (財富証券有限責任公司 ).

5. Listing of the Bonds

The Bonds shall be listed in the Mainland China inter-bank bond market as soon as possible upon the expiry of the offer period of the Bonds.

Please refer to: (i) the China Economic Herald （「中國經濟導報」）and Shanghai Securities Gazette （「上海証券報」） for the extract of the prospectus in relation to the Bonds; (ii) any of the following websites: www.sdpc.gov.cn, www.chinabond.com.cn, www.cscl.com.cn, www.gtja.com or www.cesl.com.cn for the full text of the prospectus in relation to the Bonds; and (iii) any of the following websites: www.chinabond.com.cn, www.cscl.com.cn, www.gtja.com or www.cesl.com.cn for the full text of the audit reports, the legal opinion, and the credit rating reports in relation to the Bonds.

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

Shanghai, the People’s Republic of China

11 June 2007

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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. Zhang Jianhua, Mr. Wang Daxiong, Mr. Zhang Guofa, Mr. Yao Zuozhi 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.

Note: The exchange rate adopted in this announcement for illustration purposes only is HK$1.00=RMB1.00.

* 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 the South China Morning Post”

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