[FOR IMMEDIATE RELEASE]

Zhejiang Expressway Announces 2013 First Three Quarters Results Profit Attributable to Owners of the Company Amounts to Rmb 1,421.24 Million

(Hong Kong, November 11, 2013) - Zhejiang Expressway Co., Ltd. ("Zhejiang Expressway" or the "Company") (HKEx code: 576; LSE code: ZHEH; ADR code: ZHEXY) today announced the unaudited consolidated operating results of the Company and its subsidiaries (collectively the "Group") for the nine months ended September 30, 2013 (the "Period").
During the Period, revenue of the Group increased 9.97% year-on-year to Rmb5,707.36 million. Profit attributable to owners of the Company amounted to Rmb1,421.24 million, representing an increase of
8.94%. Basic and diluted earnings per share were Rmb32.72 cents (same period in 2012 (restated):
Rmb30.04 cents).

Mr. Zhan Xiaozhang, Chairman of the Company said, "We are pleased to see the organic growth of traffic volume on the expressways operated by the Group during the Period, as well as the progress we have been making to proactively respond to the new policy of charging vehicles on an actual driving route basis implemented by Zhejiang Province since May 15, 2012. As the economy in Zhejiang Province demonstrated upward signs during the Period, organic traffic volume growth reached its peak level in the first quarter of 2013 after it had started picking up in the second half of last year. Traffic volume continued to grow at a relatively high level in the second and third quarter despite having slowed down since the first quarter of this year. Our securities business was supported by a favorable commission policy and realized healthy growth as well."

During the Period, the average daily traffic volume in full-trip equivalents along the Group's Shanghai-Hangzhou-Ningbo Expressway was 44,309, up by 4.9% year-on-year, while toll income amounted to Rmb2,326.33 million, representing a growth of 4.6% year-on-year. Average daily traffic volume in full-trip equivalents along the Shangsan Expressway was 17,993, representing an increase of
5.9% year-on-year, while toll income was Rmb557.52 million, representing a growth of 6.5%
year-on-year.
In respect of the toll road-related business operation, due to the renovation of the Jiaxing Service Area starting in July 2013, income from this service area was adversely affected. However, increasing sales of refined oil products offset the adverse effect and the total income of the service area grew slightly. Income from toll road-related operations during the Period amounted to Rmb1,568.93 million, up by
2.9% year-on-year.
As for the securities business, the Comapny's indirectly-owned subsidiary Zheshang Securities Co., Ltd. ("Zheshang Securities") continued to realize healthy growth during the Period, benefiting from a favorable commission rate policy, yet its market share declined slightly. During the Period, Zheshang Securities realized operating income of Rmb1,235.09 million, up by 38.2% year-on-year. Of such income, brokerage commission income amounted to Rmb937.41 million, up by 40.4%, and interest income from the securities business amounted to Rmb297.68 million, up by 31.8%. Securities investment gains of Zheshang Securities included in the condensed consolidated statement of profit or loss and other comprehensive income of the Group was Rmb77.36 million during the Period.
Meanwhile, in order to speed up the process of its listing on the Shanghai Stock Exchange, Zheshang Securities has submitted an IPO application which was accepted by the China Securities Regulatory Commission in May, 2013, and is officially admitted into the waiting list for IPOs.
Looking forward, given the slight expected slow-down in Zhejiang Province 's GDP growth rate in the fourth quarter and a higher comparable base in the same period last year, the organic growth rate of traffic volume of the Group's expressways may also see a gradual slow-down in the fourth quarter. In addition, the opening of the Jiaxing-Shaoxing Expressway to freight vehicles is expected to soften the current small diversion impact on the Group's Shanghai-Hangzhou-Ningbo Expressway. The construction plan of the Shanghai Free Trade Zone was approved in early July this year, and it is expected to bring increasing demand in both trade and transportation that will eventually lead to additional growth in traffic volume on the expressways operated by the Group.

Chairman Zhan concluded, "Facing changing external environments, our management team will remain committed to strengthening its principal expressway business, improving its securities business, seeking appropriate investment projects, and cultivating management capabilities to operate diversified businesses, thereby improving the quality of the Company's management and its operating results, and delivering stable returns to shareholders."

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Note to Editors:

During the Period, the Group has acquired the remaining 76.55% equity interest in Zhejiang Jinhua Yongjin Expressway Co., Ltd. ("Jinhua Co"), of which 66.283% equity interest was acquired from Zhejiang Communications Investment Group Co., Ltd ("Communications Group"). Since Communications Group is the parent company of the Company, this transaction was regarded as business combination involving entities under common control and was accounted for using merger accounting method, in accordance with the guidance set out in Accounting Guideline 5 "Merger Accounting for Common Control Combinations" issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA").
As a result, amounts reported in this press release for the nine months ended September 30, 2012 have been restated, in order to include the losses, assets and liabilities of the combining entities since the date on which they first come under common control.

About Zhejiang Expressway Co., Ltd

Established in 1997, Zhejiang Expressway Co., Ltd. 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 has concession rights to operate the Shanghai-Hangzhou-Ningbo Expressway and the Shangsan Expressway for a period of 30 years. The Company and its subsidiaries also carry out certain ancillary businesses such as automobile servic ing, 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

Christensen / PR Concepts

Jung Chang
Tel : (852) 9226 6258
Email : jchang@christensenir.com
Ricky Tan
Tel : (852) 6605 9808
Email : rtan@christensenir.com

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