RNS Number:2571K
Zhejiang Southeast Elec Power Co Ld
23 April 2003







Securities Code: 900949  Securities Abbreviation: (Dong Dian B) No: Lin 2003-003



               Zhejiang Southeast Electric Power Company Limited


  Announcement on the Shareholding Transfer of State-owned Legal Person Shares




Upon approval of the State Council of the PRC, five nation-wide power generating
group companies including the newly established China Huaneng Group Corporation
were duly incorporated on 29 December 2002.  According to the Document Ji Ji Chu
(2002) No.2704 "Approval of the State Development and Planning Commission in
relation to the Proposal on the Restructuring and Allocation of the Power
Generating Assets of State Power Corporation" issued by the State Development
and Planning Commission, the shareholding in 514,036,800 State-owned legal
person shares of Zhejiang Southeast Electric Power Company Limited (the "Company
") held by Zhejiang Provincial Electric Power Company, one of the major
shareholders of the Company, shall be allocated to China Huaneng Group
Corporation without compensation by way of administrative allocation.  Zhejiang
Provincial Electric Power Company and China Huaneng Group Corporation recently
entered into the Shareholding Transfer Agreement of the Company.  Pursuant to
the said agreement, the basis date for the shareholding transfer was 1 January
2003.



After the above shareholding transfer, China Huaneng Group Corporation shall
hold 514,036,800 shares of the Company, representing 25.57% of the total number
of shares of the Company, and is the second largest shareholder of the Company.
Zhejiang Provincial Electric Power Company shall cease to hold any shares of the
Company.



After obtaining the approval of the relevant authorities, the shareholding
transfer will be disclosed in a timely manner according to the provisions of the
Administrative Measures on the Disclosure of Information in relation to the
Changes in Shareholdings of Shareholders of Listed Companies issued by China
Securities Regulatory Commission.





                                                              Board of Directors

                               Zhejiang Southeast Electric Power Company Limited


                                                                   23 April 2003



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

HOLEADLDAAKDEEE