Netjoy Holdings Limited — M&A Activity 2005

Jan 11, 2005

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(a Sino-foreign joint stock limited company incorporated in the People’s Republic of China)

(Stock Code: 902)

OVERSEAS REGULATORY ANNOUNCEMENT — Completion of the acquisition of Sichuan Hydro Power and Pingliang Power Plant

The Company has completed the acquisition of 60% equity interest in Sichuan Hydro Power and 65% equity interest in Pingliang Power Plant.

This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

On 26th October 2004, Huaneng Power International, Inc. (the “Company”) entered into transfer agreements with China Huaneng Group (“Huaneng Group”), pursuant to which the Company agreed to acquire from Huaneng Group its 60% equity interest in Sichuan Huaneng Hydro Power Development Limited Liability Company (“Sichuan Hydro Power”) and 65% equity interest in Gansu Huaneng Pingliang Power Generation Limited Liability Company (“Pingliang Power Plant”) at a total consideration of RMB2,025 million. For details, please see the announcement and the circular published by the Company on 27th October 2004 and 3rd November 2004 respectively.

With the approval of the aforesaid transfer agreements by the relevant regulatory authorities in the PRC on 31st December 2004, all conditions under the transfer agreements have been satisfied. The total consideration has been paid by the Company and the acquisition was completed.

To date, the Company’s total generation capacity on an equity basis has increased by 1,146 MW and reached 20,998 MW. This acquisition has also brought to the Company an additional equity-based generation capacity under construction, totaling 389 MW.

By Order of the Board Huang Long Company Secretary

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As at the date of this announcement, the directors of the Company are:

Li Xiaopeng (Non-executive director) Wang Xiaosong (Non-executive director) Huang Yongda (Executive director) Ye Daji (Non-executive director) Huang Jinkai (Non-executive director) Liu Jinlong (Non-executive director) Shan Qunying (Non-executive director) Yang Shengming (Non-executive director) Xu Zujian (Non-executive director) Liu Shuyuan (Non-executive director)

Gao Zongze (Independent director) Zheng Jianchao (Independent director) Qian Zhongwei (Independent director) Xia Donglin (Independent director) Liu Jipeng (Independent director)

Beijing, the PRC 10th January 2005

Please also refer to the published version of this announcement in South China Morning Post.

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