COSCO SHIPPING Development Co., Ltd. — M&A Activity 2008

Mar 13, 2008

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

(Stock code: 2866)

POSSIBLE ACQUISITION

The Company has today decided to enter into preliminary discussions and carry out investigation regarding the Possible Acquisition. This announcement is issued by the Company pursuant to Rule 13.09 of the Listing Rules to inform the public of the Possible Acquisition.

As the Possible Acquisition may or may not take place, shareholders of the Company and the public investors are advised to exercise extreme caution when dealing in the shares of the Company.

The board of directors (the “ Board ”) of the Company wishes to inform the public that the Company has today decided to enter into preliminary discussions and carry out investigation regarding a possible acquisition by the Company from its controlling shareholder, China Shipping (Group) Company, of its entire equity interests in China Shipping Terminal Development Co., Ltd. (the “ CS Terminal ”) (the “ Possible Acquisition ”). The brief background of CS Terminal is set out in the note to this announcement. Independent financial adviser will be appointed as appropriate in relation to the Possible Acquisition.

As at the date of this announcement, no agreement in respect of the Possible Acquisition has been signed and no material terms have been agreed to. If the Company is successful in the Possible Acquisition, it is anticipated that the same would constitute a notifiable transaction and a connected transaction for the Company under the Listing Rules.

The Board will keep the market informed in compliance with the requirements of the Listing Rules as and when any written agreement in relation to the Possible Acquisition has been signed.

As the Possible Acquisition may or may not take place, shareholders of the Company and the public investors are advised to exercise extreme caution when dealing in the shares of the Company.

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DEFINITIONS

In this announcement, the following expressions have the meanings set out below unless the context otherwise requires:

Definition Meaning “Company” China Shipping Container Lines Company Limited “Listing Rules” The Rules Governing the Listing of Securities on the Stock Exchange “Stock Exchange” The Stock Exchange of Hong Kong Limited

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

Shanghai, the People’s Republic of China 13 March 2008

Note:

CS Terminal is a wholly owned subsidiary of China Shipping (Group) Company, the controlling shareholder of the Company. CS Terminal is principally engaged in the investment and management of various container terminals. In 2007, the container terminals that CS Terminal is interested in achieved a total throughput of 9.38 million TEUs.

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, Mr. Xu Hui and Mr. Lin Jianqing 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 a non-Hong Kong company under Part XI of the Companies Ordinance (Chapter 32 of the Laws of Hong Kong) under its Chinese name and under the English name “China Shipping Container Lines Company Limited”.

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