COSCO Pacific Limited

UNUSUAL PRICE MOVEMENT

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

The board of directors (the “Board”) of COSCO Pacific Limited (the “Company”) has noted the recent decrease in the price of the shares of the Company and wishes to state that the Board is not aware of any reasons for such decrease.

The Board also confirms that, other than the proposed concession agreement with Piraeus Port Authority S.A. in relation to Piers 2 and 3 of the Piraeus Port as referred to in the Company’s announcements dated 4th June 2008, 10th June 2008, 13th June 2008 and 8th October 2008 (of which no formal agreement has been signed as of the date of this announcement), there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Rule 13.23 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”), neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature.

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

By Order of the Board
COSCO Pacific Limited
XU Minjie
Vice Chairman & Managing Director
Hong Kong, 27th October 2008
As at the date of this announcement, the Board comprises the following directors:
Mr. CHEN Hongsheng2 (Chairman), Mr. LI Jianhong1, Mr. XU Lirong2, Ms. SUN Yueying1,
Mr. XU Minjie1 (Vice Chairman & Managing Director), Dr. SUN Jiakang2, Dr. WONG Tin
Yau, Kelvin1, Mr. WANG Zhi1, Mr. YIN Weiyu1, Dr. LI Kwok Po, David3, Mr. CHOW
Kwong Fai, Edward3 and Mr. Timothy George FRESHWATER3.
1 Executive Director
2 Non-executive Director
3 Independent Non-executive Director

Source: COSCO Pacific Limited