GUANGZHOU PHAR<0874>-Exceptional Price & Turnover Movements

The Stock Exchange has received a message from Guangzhou Pharmaceutical 
Company Limited which is reproduced as follows:-

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

The directors of the Company ("Directors") have noted the increase in the 
price and trading volume of the shares of the Company on today and wish to 
state that they are not aware of any reasons for such increase.

The Directors also confirm that there are no negotiations or agreements 
relating to the intended acquisitions or realisations which are 
discloseable under paragraph 3 of the Listing Agreement and that they are 
not 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.

This statement is made by the order of the board of directors of the 
Company which individually and jointly accept responsibility for the 
accuracy of this statement.

By Order of the Board
Guangzhou Pharmaceutical Company Limited 

He Shu Hua
Company Secretary

24 June, 1999"