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.

CHINA RAILWAY GROUP LIMITED

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

(Stock Code: 390)

This overseas regulatory announcement is made pursuant to Rule 13.10B of the Rules

Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Please refer to the attached Announcement of "Announcement of China Railway Group Limited in Relation to the Results of Issuance of First Phrase Medium Term Notes for the Year 2014" published by China Railway Group Limited on the Shanghai Stock Exchange website on 5 July 2014 for your information.

By order of the Board

China Railway Group Limited

Chairman

LI Changjin

5 July 2014

As at the date of this announcement, the executive directors of the Company are LI Changjin (Chairman), YAO Guiqing and DAI Hegen; and the independent non-executive directors are GUO Peizhang, WEN Baoman, ZHENG Qingzhi and NGAI Wai Fung.

A Shares Stock Name: China Railway

H Shares Stock Name: China Railway

Announcement No.: Lin 2014-020

A Shares Stock Code:

601390

H Shares Stock Code:

390

Announcement No.: Lin 2014-020

ANNOUNCEMENT OF CHINA RAILWAY GROUP LIMITED IN RELATION TO THE RESULTS OF ISSUANCE OF FIRST PHRASE MEDIUM TERM NOTES FOR THE YEAR 2014 The board of directors of China Railway Group Limited (the "Company") and all the directors hereby undertake that this announcement does not have any false or misleading statements or any material omissions, and assume the joint and several liability for the truthfulness, accuracy and completeness of the contents.

The Company issued the first phrase medium term notes (A Share Abbreviations: 14 China Railway MTN001, A Share Code: 101474007) on 1 July 2014, with a total issuance amount of RMB 3 billion. The medium term notes will have a perpetual term until redemption by the Company in accordance with the terms of issuance, and will mature at the redemption by the Company in accordance with the terms of issuance. The par value per note is RMB100 and the coupon rate for the first five interest-bearing years is 6.50%.

China International Capital Corporation Limited was the lead underwriter and Industrial and Commercial Bank of China was the joint lead underwriter for the issuance of the medium term notes by the Company. As at 3 July 2014, the Company has received the full amount of proceeds raised. Documents relating to the issuance of medium term notes are available on the websites of Chinamoney ( www.chinamoney.com.cn ) and Shanghai Clearing House (www.shclearing.com)

Notice is hereby given.

The Board of Directors of

China Railway Group Limited

5 July 2014

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