SUMMARY The board of directors of China Travel International Investment Hong Kong Limited (the "Company") wishes to inform the shareholders of amendment to a term of the Acquisition (as defined below) which was announced by the Company on 22nd March, 2000.

Reference is made to the announcement ("Announcement") made by the Company dated 22nd March, 2000 in relation to the acquisition ("Acquisition") of 18% shareholdings interest in China Travel Net Limited ("Sale Shares") by Good Way Technology Limited (the "Purchaser"), a wholly-owned subsidiary of the Company from China Travel Service (Holdings) Hong Kong Limited (the "Vendor"). Completion of the Acquisition took place on 21st March, 2000. As mentioned in the Announcement, the Purchaser has undertaken to the Vendor under the Agreement that it shall not sell, transfer, mortgage, charge or otherwise dispose of or encumber the whole or any part of the Sale Shares unless otherwise permitted under the Agreement provided that if the listing of the shares of China Travel e-Business Limited on the Growth Enterprises Market of The Stock Exchange of Hong Kong Limited ("GEM Listing") does not occur on or before 30th June, 2000 ("Agreed Date"), the Purchaser shall be entitled to sell, transfer, mortgage, charge or otherwise dispose of or encumber the whole or any part of the Sale Shares. As the GEM Listing has not taken place on or before 30th June, 2000 and the application for the GEM Listing is still undergoing, the Company, the Purchaser and the Vendor have agreed to extend the Agreed Date to 31st December, 2000.

By Order of the Board of
China Travel International Investment Hong Kong Limited
Wu Yingqiu
Director

Hong Kong, 4th July, 2000

The directors of the Company jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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