GUANGZHOU PHAR<00874> - 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 board of directors of the Company (the "Board") has noted the 
increases in the price and the trading volume of the shares of (Guangzhou 
Pharmaceutical Company Limited) (the "Company") today and wish to state 
that the Board is not aware of any reasons for such increases.

The Board also confirms that there are no negotiations or agreements 
relating to intended acquisitions or realizations which are discloseable 
under paragraph 3 of the Listing Agreement, neither is the Board 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.

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


By order of the Board
He Shuhua
Company Secretary

Guangzhou, the PRC, 22 April 2003"