CHAODA MODERN<00682> - Exceptional Price Movement

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 increase in the price of the shares of the Company 
today, and wish to state that we are not aware of any reason of such an 
increase.

We confirm that there are no negotiation or agreements relating to 
intended acquisition or realization 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 an on behalf of
Chaoda Modern Agriculture (Holdings) Limited

Ip Chi Ming
Director

Hong Kong, 15 April 2003"