[FOR IMMEDIATE RELEASE]

Zhejiang Expressway Announces 2013 Annual Results Financial Highlights

Strengthen Innovation and Focus on Transformation

Revenue amounted to Rmb7,851.12million, representing an increase of 13.3% year-on-year.

 Profit attributable to owners of the Company amounted to Rmb1,907.47 million, representing an increase of 15.6% year-on-year.

Earnings per share was Rmb43.92 cents.

A final dividend of Rmb25 cents per share is recommended.

(Hong Kong, March 17, 2014) - Zhejiang Expressway Co., Ltd. ("Zhejiang Expressway" or the "Company") (HKEx code: 576; LSE code: ZHEH; ADR code: ZHEXY) today announced the audited consolidated operating results of the Company and its subsidiaries (the "Group") for the year ended December 31, 2013 (the "Period").
During the Period, revenue for the Group was Rmb7,851.12 million, representing an increase of 13.3% over
2012. Profit attributable to owners of the Company was Rmb1,907.47 million, representing an increase of
15.6% year-on-year. Earnings per share for the Period was Rmb43.92 cents (2012(restated): Rmb37.98 cents). The Directors have recommended to pay a final dividend of Rmb25 cents per share (2012: Rmb 24 cents).

Mr. Zhan Xiaozhang, Chairman of the Company said, "In 2013, China's economy maintained a relatively fast pace of GDP growth, Zhejiang Province's economy and overall investment levels generally maintained solid momentum. As Zhejiang Province's economy steadily improved and its foreign trade showed signs of recovery, traffic volume on the Group's expressways continued to see steady organic growth and the Group recorded solid income growth during the Period." Business Review

Total toll income from the 248km Shanghai-Hangzhou-Ningbo Expressway, the 142km Shangsan Expressway and the 70km Jinhua Section of the Ningbo-Jinhua Expressway amounted to Rmb4,158.34 million during the Period, representing an increase of 6.6% year-on-year. Toll income from the Shanghai-Hangzhou-Ningbo Expressway amounted to Rmb3,122.02 million, representing an increase of 5.2% year-on-year; toll income from the Shangsan Expressway amounted to Rmb769.72 million, representing an increase of 9.6% year-on-year; while toll income from the Jinhua Section of the Ningbo-Jinhua Expressway amounted to Rmb266.59 million, representing an increase of 15.2% year-on-year.

The average daily traffic volume in full-trip equivalents along the Group's Shanghai-Hangzhou-Ningbo Expressway was 44,013 during the Period, representing an increase of 4.9% year-on-year. In particular, average daily traffic volume in full-trip equivalents along the Shanghai-Hangzhou Section of the Shanghai-Hangzhou-Ningbo Expressway was 44,182, representing an increase of 3.4% year-on-year, and that along the Hangzhou-Ningbo Section was 43,891, representing an increase of 5.9% year-on-year. Average daily traffic volume in full-trip equivalents along the Shangsan Expressway was 18,317 during the Period, representing an increase of 9.1% year-on-year. Average daily traffic volume in full-trip equivalents along the Jinhua Section of the Ningbo-Jinhua Expressway was 13,533 during the Period, representing an increase of
12.0% year-on-year.
For the toll road-related business operation, due to the renovation of the Jiaxing Service Area starting in July
2013, income from service areas was adversely affected. However, increasing sales of refined oil products and additional income from the external road maintenance projects ensured solid growth in the Group's toll road-related businesses. As a result, income from toll road-related operations during the Period was Rmb2,192.48 million, representing an increase of 6.9% year-on-year.
For the securities business, the total trading volume of the Shanghai and Shenzhen stock markets increased
49.60% compared with last year due to a revival of activity in the domestic securities market. During the period, income from the securities brokerage, investment banking, asset management, margin financing and securities lending businesses all grew steadily year-on-year. During the Period, Zheshang Securities' total operating income was Rmb1,742.17 million, an increase of 47.5% year-on-year. Of such income, brokerage commission income amounted to Rmb1,288.15 million, up by 45.2%, and interest income from the securities business amounted to Rmb454.02 million, up by 54.5%. Moreover, securities investment gains of Zheshang Securities included in the consolidated statement of profit or loss and other comprehensive income of the Group was Rmb85.42 million during the Period.
In addition, in order to accelerate the process of listing on the Shanghai Stock Exchange, Zheshang Securities submitted an IPO application, which was accepted by the China Securities Regulatory Commission in May,
2013. Zheshang Securities is now officially on the wait list for an IPO. Zheshang Securities continued to increase the number of its branches to facilitate the further development of its securities brokerage business and to stabilize and increase its market share. Zheshang Securities had 108 business outlets during the Period.

Outlook

With the steady and rapid development of China's economy and an upturn in Zhejiang province's domestic and foreign trade, it is anticipated that in 2014, the Group's toll road business, which is closely tied to macro and regional economic development, will see traffic volume on its expressways grow steadily, although

organic growth rate is expected to be slower compared with 2013.
In addition, the Jiaxing-Shaoxing Expressway, which opened to passenger vehicles last July and opened to trucks at the end of November 2013, is expected to have a sustainable positive impact on the Group's Shangsan Expressway.

Mr. Zhan concluded, "Looking ahead to 2014, with the policies of China's new leadership to deepen reforms achieving early success, the Group's management believes that the new round of economic reforms will bring new opportunities and challenges to the Group's reform and development. The Group will continue to focus on its core expressway business, raise service quality, further improve operational management ability, and push forward with its development of innovative securities businesses. The Company will also look for appropriate investment projects, cultivate diversified business management capabilities, leverage the strategic synergies with its parent company, and enhance the utilization of capital, in order to further increase its profitability and deliver satisfactory results."

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About Zhejiang Expressway Co., Ltd

Established in 1997, Zhejiang Expressway Co., Ltd. (HKEx code: 576; LSE code: ZHEH; ADR code: ZHEXY) is regarded by the Zhejiang Provincial Government as its main enterprise for investment, development, operation, maintenance and management of high-grade roads in Zhejiang Province. The Company and its subsidiaries have concession rights to operate the Shanghai-Hangzhou-Ningbo Expressway and the Shangsan Expressway for a period of 30 years, as well as the Jinhua Section of the Ningbo -Jinhua Expressway for a period of 25 years. The Company and its subsidiaries also carry out certain ancillary businesses such as automobile servicing, operation of gas stations and billboard advertising along expressways, as well as the securities business.
For further information, please contact:

Zhejiang Expressway Co., Ltd. Mr. Tony Zheng / Ms. Helen Wu Tel: (86571) 8798 7700

Fax: (86571) 8795 0329

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