CHAODA MODERN<00682> - Exceptional Price & Turnover Movements

The Stock Exchange has received a message from Chaoda Modern Agriculture 
(Holdings) Limited which is reproduced as follows:-

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

We have noted that the decrease in the price and increase in trading 
volume of the shares of the Company in this morning, and wish to state 
that, save as the interim result announcement dated 24 March, 2003, we are 
not aware of any reason for such a decrease and an increase.

We confirm 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 of Chaoda Modern Agriculture (Holdings) 
Limited, the directors of which individually and jointly accept 
responsibility for the accuracy of this statement.

For and on behalf of
Chaoda Modern Agriculture (Holdings) Limited

Ip Chi Ming
Director

Hong Kong, 25 March 2003"