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CHINA TRAVEL INTERNATIONAL INVESTMENT HONG KONG LIMITED
(incorporated in Hong Kong under the Companies Ordinance)

Announcement

The board of directors (the "Board") of China Travel International Investment Hong Kong Limited (the "Company") has noted to-day's increase in the share price and trading volume of the Company. The Board is aware that its parent company, China Travel Service (Holdings) Hong Kong Limited ("CTSH"), is currently in discussion with an independent third party for a possible business co-operation in its tour-related operation, in which the Company may consider to invest in future.

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

The Board has noted to-day's increase in the share price and trading volume of the Company and wishes to state that the negotiation with regard to the possible investment in a tour-related internet company is still in progress. Save as those disclosed in the announcement of 15th January, 2000, the Board is not aware of any reasons for such increase.

The Board also wishes to state that the Company is aware that its parent company, CTSH, is currently in discussion with an independent third party for a possible business co-operation in its tour-related operation. The Company is not involved in such discussion but may consider to invest in future as stated in the announcement of 15th January, 2000.

Save as disclosed above, the Board confirms that there are no other negotiations or agreements relating to intended acquisitions or realisations 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.

In the meantime, investors are advised to exercise caution when dealing in the shares of the Company.

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



By Order of the Board
Chen Wangtao
Director

Hong Kong, 15th February, 2000


Source: China Travel International Investment Hong Kong Limited
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