RNS Number:8054P
Zhejiang Southeast Elec Power Co Ld
16 September 2003

               Zhejiang Southeast Electric Power Company Limited

Announcement on Resolutions of the Third Meeting (by communication) of the Third
Board of Directors & Notice to Convene the Second Extraordinary General Meeting
                                    for 2003

The Company and all the members of the Board of Directors assure the
authenticity, accuracy and integrity of this announcement and they jointly and
severally accept full responsibility for the false representations, misleading
statements or material omissions in this announcement.

The 3rd meeting of the 3rd Board of Directors of Zhejiang Southeast Electric
Power Company Limited (the "Company") was convened by way of communication on 12
September 2003. 15 directors should be and 15 were present at the meeting.
Supervisors of the Company attended the meeting. The meeting has complied with
the stipulations of the Company Law and the Articles of Association.

The following resolutions were considered and passed by the directors of the
Company at the meeting:

I.                   It was resolved to fully invest in Xiaoshan Power Plant
Natural Gas Generation Project by the Company with its own fund

1.     Xiaoshan Power Plant Natural Gas Electric Generation Project

Xiaoshan Power Plant Natural Gas Electric Generation Project (also known as
Xiaoshan Power Plant Phase II) is planning to, on the base of the current
2x130MW coal-fired electric generation units (phase I) of Xiaoshan Power Plant
wholly owned by the Company, expand by construction of two 300MW gas & stream
combined circulation generating units fueled by the natural gas of East Sea.

This project is a very important auxiliary lower reaches gas use project of East
Sea natural gas, and is listed as one of the significant projects of the 10th
Five Year Plan of Zhejiang Province. On 6th August 2003, the State Development
and Reform Commission tabled the proposal of this project before the Office
Meeting of the State Council and the same has gained its approval. On 15th
August 2003, the State Development and Reform Commission issued a Fagai Nenyuan
Wen (2003) No. 966 Notice to the Approval of Proposal on Zhejiang Xiaoshan Power
Plant Natural Gas Electric Generation Project by the State Development and
Reform Commission to approve the establishment of the Project.

According to the Feasibility Study of Xiaoshan Power Plant Natural Gas Electric
Generation Project, the planned total investment of this project amounts to
RMB2.576 billion yuan. It is planned to put one unit into operation in 2005 and
in 2006 respectively.

2.     Investment mode and fund demand of Xiaoshan Power Plant Natural Gas
Electric Generation Project

As proposed, Xiaoshan Power Plant Natural Gas Electric Generation Project will
be invested and constructed by the Company with its own fund. The registered
capital of this project accounts for 25% of the total investment, and will be
totally funded by the Company with its internal resources, the remaining 75% by
financing. On the basis that the total investment of the project being RMB2.576
billion, the registered capital of the project will be approximately RMB0.648
billion yuan.

3.     The feasibility and market prospect of Xiaoshan Power Plant Natural Gas
Electric Generation Project

1)     The investment and construction of Xiaoshan Power Plant Natural Gas
Electric Generation Project will increase the installed capacity of the Company
and the generation income of the Company. At present, the economic development
of Zhejiang Province is far ahead of the increase of the electric power, the
intense contradiction between supply and demand of power resurged. It is
predicted that from 2003 to 2007, Zhejiang Province requires newly added
electric power load of 9800MW, and electricity output of 60.2 billion KWh. The
big gap between the supply and demand will offer the market of the power project
investment and construction a prosperous future.

2)     As clean, high efficiency and good quality energy, the natural gas may
ease the environmental pollution pressure caused by the energy consumption
structure mainly relied on coal, the construction of Xiaoshan Power Plant
Natural Gas Electric Generation Project complies with the development trend of
energy industry. Furthermore, as the important auxiliary lower reaches gas use
project of East Sea Natural Gas, Xiaoshan Power Plant Natural Gas Electric
Generation Project has gained the support of the government and relevant
authorities.

3)     The investment and construction of Xiaoshan Power Plant Natural Gas
Electric Generation Project may rely on the current technology and human
resources of Xiaoshan Power Plant to raise the operation efficiency. As a
result, the project is expanded on the basis of the old power plant. Part of
current public utilities of phase I may be used to reduce the construction cost
and shorten the construction period.

4)     Natural Gas Power Plant possesses the characteristics of flexible
operation, quick start and shutdown of the units. Investing in and the
construction of Xiaoshan Power Plant Natural Gas Electric Generation Project
adapt to the actual situation of big difference between peak and valley hours of
Zhejiang Electric Power Grid, and make up the gap of the peak adjustment power
market during the peak hours.

4.     This proposal will be submitted to the 2nd Extraordinary General Meeting
for 2003 for review and approval.

II. It has been agreed to submit the proposal on fully investing in Xiaoshan
Power Plant Natural Gas Electric Generation Project to the 2nd Extraordinary
General Meeting for 2003 for review and approval.

Notice to convene the 2nd Extraordinary General Meeting for 2003:

1.     Time of the meeting: 16th October 2003 at 9:00 a.m.

2.     Venue of the meeting: Zhejiang Hotel, Yanan Road No. 595, Hangzhou.

3.     Agenda of the meeting:

The subject under discussion: Proposal on fully investing in Xiaoshan Power
Plant Natural Gas Electric Generation Project.

4.     Attendees of the meeting:

1)     All the shareholders of the Company who have registered at China
Securities Clearing & Registration Corporation Shanghai Branch by the time the
market closes in the afternoon of 26th September 2003 have the right to attend
the meeting, and may entrust their agent to attend the meeting and to vote on
their behalf (the last day for trading of the Company's B shares shall be 23rd
September 2003).

2)     Directors, supervisors and other senior management officers of the
Company.

5.     Registration for the meeting

1)     Individual shareholders who will be present at the meeting shall produce
their identity cards, shareholders' account cards and effective shareholding
evidence for registration; authorized proxies shall not only produce the
above-mentioned evidence but also the proxy forms and the identity cards of the
proxies.

2)     Legal person shareholders represented by legal representatives shall
produce the shareholders' account cards of legal representatives, business
license and identity cards of the legal representatives to register; authorized
proxies shall produce not only the above-mentioned evidence but also the proxy
forms of the legal representatives and the identity cards of the proxies.

3)     Shareholders may register by way of post, facsimile and telephone.

4)     The office of the secretary to the Board of Directors will accept the
registration on 8th October 2003 from 9:00 a.m. to 11:00 a.m. and 1:30 p.m. to
3:30 p.m.

6.     Other matters

1)     The meeting will last half a day and the attendees shall bear their own
costs of transportation, board and lodging.

2)     Contacts:

Address: Office of the Secretary to the Board of Directors, 22nd floor,
Triplenic Mansion 528 Yanan Road, Hangzhou. (Postal code 310006)

Telephone: 0571-85774566

Fax: 0571-85774321



Board of Directors

         Zhejiang Southeast Electric Power Company Limited

16th September 2003



Appendix: Proxy Form

Proxy Form

This is to fully authorize Mr./Ms. _____________ to attend the 2nd Extraordinary
Shareholders' General Meeting for 2003 of Zhejiang Southeast Electric Power
Company Limited and vote on my behalf.

Appointer: ___No. of business license/identity card of the appointer: ___

Number of shareholder account card: ____Number of shares held: _____

Appointee: ______ Number of identity card of the appointee: _________

Date of authorization: _____________

Appointee (seal): ____________






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