BQ36 Barclays 27

RNS Number:2513W
Zhejiang Southeast Elec Power Co Ld
22 May 2002



               Zhejiang Southeast Electric Power Company Limited

               Announcement on Distribution of Dividends for 2001

The Company and all members of the Board of Directors of the Company assure the
authenticity, accuracy and completeness of this announcement, and jointly accept
full responsibility for any false representations, misleading statements or
material omissions contained herein.

Important matters:

Proposal for distribution: cash dividend per share is RMB 0.25 yuan (tax
included). Dividends of B shares will be distributed after converting into US
dollars, i.e. US$ 0.030204(tax included) per share.

Date for registering share ownership: 31 May 2002

Last trading date: 28 May 2002

Ex-dividend date: 29 May 2002

Dividend distribution date: 7 June 2002

The proposal for distribution of profits of Zhejiang Southeast Electric Power
Company Limited ("the Company") for the year 2001 was approved at the
Shareholders' General Meeting for 2001 held on 10th May 2002. The following are
details of distribution of dividends:


 1. Profit distribution proposal

    The proposal for distribution of profits of the Company for 2001 is as
    follows: taking the 2.01 billion shares of the Company at the end of 2001 as
    the base number, a cash dividend of RMB 0.25 yuan (tax included) per share
    will be paid to all shareholders, totalling RMB 502,500,000.00 yuan.

    Dividends of B shares will be distributed after converting into US dollars
    at the exchange rate of US$ 1 to RMB 8.2771 which is the mean of the US
    dollars spot rate to Renminbi quoted by People?s Bank of China on the next
    following business day after the date of the Shareholders? General Meeting
    for 2001 (i.e. 13 May 2002). Dividends per B share will be US$ 0.030204(tax
    included).

 2. Date for registering share ownership, ex-dividend date and cash dividend
    distribution date.

    The date for registering share ownership will be 31 May 2002 (the last
    trading day of B shares will be 28 May 2002), ex-dividend date will be 29
    May 2002, and cash dividend distribution date will be 7 June 2002.

 3. Targets of dividend distribution

    All the shareholders of the Company whose names are on the register of China
    Securities Clearing and Registration Company Limited Shanghai Office after
    the close of trading of the Shanghai Stock Exchange on 31 May 2002.

 4. Dividend distribution method


     a. China Securities Clearing and Registration Company Limited Shanghai
        Office will be entrusted to distribute the dividends of shareholders of
        B shares through its settlement system to the shareholders registered on
        the date for registering share ownership.

     b. Cash dividends of the promoter shareholders will be allocated directly by
        the Company to their designated bank accounts.


 5. Consultation method

    Consultation office: Office of the secretary to the Board of Directors

    Telephone number: 0571-85774566

 6. Documents available for inspection


     a. Resolutions of the Shareholders' General Meeting of the Company for 2001;

     b. Documents confirming the specific time arrangement for distribution of
        dividends by China Securities Clearing and Registration Company Limited
        Shanghai Office.

                               Board of Directors

Zhejiang Southeast Electric Power Company Limited
22 May 2002




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