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.

                             ZHEJIANG EXPRESSWAY CO., LTD.                         
     (A joint stock limited company incorporated in the People's Republic of China 
                                with limited liability)                            
                                  (Stock code: 0576)                               

    APPOINTMENT OF COMMITTEE CHAIRMEN,
    SENIOR OFFICERS AND AUTHORIZED REPRESENTATIVES

    Zhejiang Expressway Co., Ltd. (the "Company") held its first meeting of the
    seventh session of the board of directors (the "Board") of the Company at 9:00
    a.m. on Wednesday, July 1, 2015 at 7/F, No. 2 Mingzhu International Business
    Center, 199 Wuxing Road, Hangzhou City, Zhejiang Province, the People's
    Republic of China (the "PRC").

    Appointment of Committee Chairmen and Senior Officers

    The seventh session of the Board (i) elected Mr. ZHAN Xiaozhang as Chairman of
    the Seventh Session of the Board and (ii) appointed Mr. ZHAN Xiaozhang as
    Chairman of the Strategic Committee and Nomination Committee, Mr. ZHOU Jun as
    Chairman of the Audit Committee, and Mr. PEI Ker-Wei as Chairman of the
    Remuneration Committee, respectively, of the Seventh Session of the Board.

    At the same meeting, Ms. LUO Jianhu was appointed as General Manager of the
    Company; Mr. DING Huikang, Mr. ZHANG Jingzhong, Mr. FANG Zhexing, Mr. ZHU
    Yimin, Mr. Tony ZHENG and Ms. ZHANG Xiuhua were appointed as Deputy General
    Managers of the Company; Mr. WANG Dehua was appointed as Chief Financial
    Officer of the Company; and Mr. Tony ZHENG was appointed as Company Secretary
    of the Company.

    The appointments above are for a term of three years, commencing on July 1,
    2015 and expiring on June 30, 2018.

    Profile of Newly Appointed Deputy General Manager

    Mr. Zhu Yimin is a newly appointed Deputy General Manager of the Company. Mr.
    Zhu, born in 1961, is an engineer. He graduated from Chang'an Uninversity in
    July 2000 with professional program in Roads and Transportation Engineering. He
    joined the People's Liberation Army garrison 83026 from December 1978 to
    January 1982. From January 1982 to December 1998, he worked in Anji County
    Water Traffic Control Department, Huzhou Port and Water Traffic Administration
    Department and Huzhou City Water Traffic Administration Department. From June
    1994 to December 1998, he was the Director of Huzhou City Traffic Engineering
    Department. From December 1998 to September 2000, he served as the Assistant to
    Director of Huzhou City Water Traffic Control and Administration Department.
    From January 2003 to August 2004, he was the Assistant Manager of Huzhou City
    Transportation Investment and Development Corporation. From August 2004 to May
    2015, Mr. Zhu has served in different positions including the Deputy General
    Manager of Zhejiang Shenjiahuhang Expressway Co., Ltd, the Deputy General
    Manager of Zhejiang Province North Zhejiang Expressway Management Co., Ltd.,
    the Deputy General Manager of Zhejiang Shensuzhewan Expressway Co. Ltd., the
    Deputy General Manager of Zhejiang Province West Zhejiang Expressway Co., Ltd.,
    and Deputy General Manager of Zhejiang Hanghui Expressway Co. Ltd.

    Appointment of Authorized Representatives

    The Company has appointed Mr. ZHAN Xiaozhang and Ms. LUO Jianhu to be its
    authorized representatives pursuant to Rule 3.06 of the Listing Rules with
    effect from July 1, 2015. Mr. ZHANG Jingzhong will cease to be an authorized
    representative of the Company with effect from the same date.

                                                              By order of the Board
                                                                         Tony ZHENG
                                                                  Company Secretary

    Hangzhou, the PRC, July 1, 2015

    As at the date of this announcement, the executive directors of the Company
    are: Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the non-executive
    directors of the Company are: Mr. WANG Dongjie, Mr. DAI Benmeng and Mr. ZHOU
    Jianping; and the independent non-executive directors of the Company are: Mr.
    ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang, Rosa.