To: Business Editors
[FOR IMMEDIATE RELEASE]
Zhejiang Expressway Co. Ltd. has been selected as ¡°Best Under a Billion, Forbes Global¡¯s 200 Best Smaller Companies for 2003¡±.
(Hong Kong, November 4, 2003) ¨C Zhejiang Expressway Co., Ltd. (¡°Zhejiang Expressway¡± or the ¡°Company¡±) (HKEx code: 576; LSE code: ZHEH; ADR code: ZHEXY) has been listed in this year¡¯s ranking of the ¡°Best Under a Billion¡±, the Forbes Global list of the top 200 smaller companies out side the U.S.
The Company has stood out from about 19,000 publicly traded companies from Asia and Europe as one of the 200 best companies under $1 billion in latest-year revenue, based on profitability, earnings and sales growth, as well as the views of fund managers, analysts and industry watches.
¡°The exceptional Zhejiang Expressway was recommended to FORBES GLOBAL readers two years ago and has returned nearly 150% to investors since¡±, written by Mitchell Martin, the editor of Forbes, in the article appeared in the October 27, 2003 issue of Forbes Global.
Mr. Geng Xiaoping, the chairman of the Company, says, ¡°We are pleased to make the list, for it indicates Zhejiang Expressway is a good representative for the thriving and prosperous economic development of China, particularly, Zhejiang Province. The company¡¯s history is relatively short , but I believe its future will be brighter and promising.¡±
Established in 1997, Zhejiang Expressway is regarded by the Zhejiang Provincial Government as its main enterprise for investing in, constructing and operating expressways and Class 1 roads in Zhejiang Province. The Company has exclusive concession rights to operate the Shanghai-Hangzhou-Ningbo Expressway and Shangsan Expressway for a period of 30 years.
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For further information, please contact:
Mr. Gabriel Yu / Mr. Tony Zheng Ms. Christy Lai / Ms. Edith Lui
Zhejiang Expressway Co., Ltd. Rikes Communications Limited
Tel: (86571) 8798 7700 Tel: (852) 2520 2201
Fax: (86571) 8795 0329 Fax: (852) 2520 2241
