Hong Kong 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.

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

(Stock code: 00670) OVERSEAS REGULATORY ANNOUNCEMENT Announcement on Issuance of Super Short-term Commercial Paper

This announcement is made by the Company pursuant to the requirements under Rule
13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong
Kong Limited.
The Company and all members of the Board warrant that the information set out in this announcement is true, accurate and complete, and accept joint responsibility for any false information or misleading statements contained in, or material omissions from, this announcement.

As approved by the shareholders of China Eastern Airlines Corporation Limited (the "Company") in its 2013 annual general meeting, it was agreed that the Company may apply to the National Association of Financial Market Institutional Investors (the "Association") for registration of super short-term commercial paper with an aggregate principal amount of not more than RMB20 billion and for a term of not more than 270 days (to be issued on a rolling basis within the effective period of registration). On 12 December 2014, the Company received a "Notification on Acceptance of Registration" (Zhong Shi Xie Zhu [2014]No. SCP 131) from the Association, accepting the registration of the Company's super short-term commercial paper. The registered amount of RMB20 billion is effective within two years from the issuance date of the notification. The super short-term commercial paper may be issued in tranches within the effective period of registration.
The Company has completed the issuance of the 2015 second tranche of super short-term commercial paper of the Company (the "Second Tranche SCP") on 26 March 2015. The issuance amount of the Second Tranche SCP was RMB3 billion with a maturity of 180 days whereas the nominal value was RMB100 per unit and the issuance interest rate was 4.5%.
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China Everbright Bank Co., Ltd. and China Construction Bank Corporation, acting as the joint lead underwriters, formed an underwriting syndicate for the Second Tranche SCP. The Second Tranche SCP will be issued to institutional investors in public in the PRC interbank debenture market by way of book-building and centralised placing. The proceeds from the Second Tranche SCP will be used principally to re-finance bank loans of the Company and its subsidiaries and to replenish corporate working capital of the Company. The relevant documents in respect of the Second Tranche SCP are available at the websites of China Money (www.chinamoney.com.cn) and Shanghai Clearing House (www.shclearing.com).
By order of the Board

CHINA EASTERN AIRLINES CORPORATION LIMITED Wang Jian

Joint Company Secretary

Shanghai, the People's Republic of China
27 March 2015

As at the date of this announcement, the directors of the Company include Liu Shaoyong (Chairman), Ma Xulun (Vice Chairman, President), Xu Zhao (Director), Gu Jiadan (Director), Li Yangmin (Director, Vice President), Tang Bing (Director, Vice President), Sandy Ke-Yaw Liu (Independent non-executive Director), Ji Weidong (Independent non-executive Director), Li Ruoshan (Independent non-executive Director) and Ma Weihua (Independent non-executive Director).

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