Dida Inc. — Board/Management Information 2008

Jun 10, 2008

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.

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CHINA SHIPPING DEVELOPMENT COMPANY LIMITED 中海發展股份有限公司

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

(Stock Code: 1138)

WRITTEN RESOLUTIONS PASSED AT THE ELEVENTH BOARD MEETING OF 2008

The Board is pleased to announce that the resolutions set out below were duly passed by the Directors on 10 June 2008 by the adoption of written resolutions in lieu of a physical meeting.

The board of directors (the “ Board ”) of China Shipping Development Company Limited (the “ Company ”) is pleased to announce that the directors (the “ Directors ”) of the Company adopted written resolutions (the “ Written Resolutions ”) in lieu of a physical meeting.

The Written Resolutions were duly passed in accordance with the relevant provisions of the Company Law of the People’s Republic of China (the “ PRC ”) and the articles of association of the Company as follows:

• I. Resolution regarding the proposed construction of eight 76,000 tonne bulk vessels; and

• II. Resolution regarding the proposed amendments to the articles of association of the Company in order to reflect the change in share capital structure following the completion of the procedure for conversion and redemption of the Company’s RMB 2 billion convertible bonds in April 2008. The details of the proposed amendments are as folllows:

  1. One more clause shall be added as clause 5 of Article 19 at the end of the existing Article 19 as follows: “In July 2007, the Company issued RMB 2 billion convertible bonds to the domestic public upon the approval of the China Securities Regulatary Committee. The procedures for conversion and redemption of all the convertible bonds were completed in April 2008, as a result of which there was a change in the shareholding structure of the

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Company. The total share capital of the Company has been increased to 3,404,552,270 shares, of which 2,108,552,270 shares are domestic listed A Shares, representing 61.93 % of the total issued ordinary shares of the Company, and 1,296,000,000 shares are overseas listed foreign shares, representing 38.07% of the total issued ordinary shares of the Company.”

1. Article 20 shall be changed from “The registered capital of the Company is RMB3,326,000,000” into “The registered capital of the Company is RMB3,404,552,270”.

Other provisions of the existing articles of association of the Company remain unchanged.

This announcement is made in compliance with Rules 13.09(2) and 13.51(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Company’s A Shares are listed on the Shanghai Stock Exchange, and the Shanghai Stock Exchange has requested the Company to make an announcement similar to this announcement.

By order of the Board China Shipping Development Company Limited Li Shaode Chairman

Shanghai, the PRC 10 June 2008

As at the date of this announcement, the Board of Directors of the Company is comprised of Mr. Li Shaode, Mr. Ma Zehua, Mr. Lin Jianqing, Mr. Wang Daxiong, Mr. Zhang Guofa, Mr. Mao Shijia and Mr. Wang Kunhe as executive directors, Mr. Ma Xun, Mr. Xie Rong, Mr. Hu Honggao, Mr. Zhu Yongguang and Mr. Zhou Zhanqun as independent non-executive directors.

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