Zhejiang Expressway Co Ld - Spinco Offer Price and Listing Timetable

Spinco Offer Price and Listing Timetable

Hong Kong Stock Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ZHEJIANG EXPRESSWAY CO., LTD
(A joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock code: 0576)

THE PROPOSED SPIN-OFF AND SEPARATE LISTING OF THE SPINCO ON THE SHANGHAI STOCK EXCHANGE
OFFER PRICE AND LISTING TIMETABLE

The announcement is made by the Board of the Company pursuant to Rule 13.09(2) of the Listing Rules and the inside information provisions under Part XIVA of theSecurities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 2 May 2017 and 7 May 2013 (the "Announcements") in relation to the Proposed Spin-off of the SpinCo by way of A Share Listing of the SpinCo on the Shanghai Stock Exchange. Terms defined in the Announcements shall have the same meanings herein, unless the context otherwise requires.

The Board hereby announces that (i) the total number of shares to be offered under the proposed initial public offering of the A Shares of SpinCo in connection with the A Share Listing (the "Offering"), is 333,333,400 shares, (ii) the offer price in relation to the A Share Listing has been determined at RMB8.45 per share and (iii) subject to, among other things, the approval of the Shanghai Stock Exchange and completion of the Offering, dealings in the A Shares of the SpinCo on the Shanghai Stock Exchange are expected to commence on 13 June 2017.

Shareholders and potential investors should note that the Proposed Spin-off is subject to, among other things, the approval of the Shanghai Stock Exchange and the completion of the Offering. There is no assurance that the Proposed Spin-off will take place or as to when it may take place. Accordingly, Shareholders and potential investors are reminded to exercise caution when dealing in the securities of the Company.

On behalf of the Board        
Zhejiang Expressway Co., Ltd.
ZHAN Xiaozhang           
Chairman                 

Hangzhou, the PRC, 23 May 2017

As at the date of this announcement, the executive directors of the Company are: Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the non-executive directors of the Company are: Mr. WANG Dongjie, Mr. DAI Benmeng, and Mr. ZHOU Jianping; and the independent non-executive directors of the Company are: Mr. ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang, Rosa.

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