Summary The board of directors (the "Board") of China Eastern Airlines Corporation Limited (the "Company") has noted the reports (the "Reports") in certain recent newspaper articles about the restructuring of the Company with other airlines in China (the "Restructuring"). The Board has also noted the recent increases in the price and trading volume of the shares of the Company. At the request of the Hong Kong Stock Exchange, the Board makes this announcement: (i) in relation to the content of the Reports; and (ii) to make clear that the Board is aware of no matters, other than those already disclosed in the Company's announcement dated 20 July 2000, which can explain the increases in the share price and trading volume.

This statement is made at the request of the Hong Kong Stock Exchange.

The Board has noted the reports in certain recent newspaper articles about the Restructuring. The Board has also noted that the Restructuring plan mentioned in those newspaper articles is a comment made by the official of the Civil Aviation Administration of China. The Company is not in a position to confirm the accuracy of that comment.

The Board confirms that save for the Disposal and Acquisition as already disclosed in the Company's announcement dated 20 July 2000 (as both terms were defined in the said announcement), there are no negotiations or agreements relating to intended acquisitions or disposals which are discloseable under paragraph 3 of the Listing Agreement. Neither is the Board, save as disclosed in the said announcement, aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price-sensitive nature.

The Board has also noted the recent increases in the price and trading volume of the shares of the Company and wish to state that, save as disclosed in the said announcement, the Board is not aware of any reasons for such increases.

Investors are reminded to exercise caution in dealing in the shares of the Company.

Made by the order of the Board, the directors of which individually and jointly accept responsibility for the accuracy of this statement.

By order of the Board
Luo Zhuping
Company Secretary

24 July 2000, Shanghai, the People's Republic of China

Please also refer to the published version of this announcement in the South China Morning Post & Hong Kong Economic Times.

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