China's Largest Airlines Bids Aloha, Adieu & Adios To Year 2002; China Southern Airlines Recaps Boffo Business/Stock Performance.

Business & Travel Editors

GUANGZHOU, China--(BUSINESS WIRE)--Dec. 30, 2002

China Southern Airlines (NYSE:ZNH) (HKSE:1055), the largest airline in The People's Republic of China, will end 2002 as one of the best-performing airline stocks on the New York Stock Exchange ... as part of its annual wrap-up of its significant year-end performance.

Here are some of the notable events for China's largest airline during Year 2002:

-- As other major International airlines continue to suffer and stumble in a depressed aviation marketplace and face either bankruptcy or insolvency, China Southern Airlines' stock on the NYSE - ZNH - ends 2002 as one of the best-performing aviation stocks of any listed airline in the world;

-- In June and August, respectively, China Southern Airlines made substantial investments in China Postal Airlines and Sichuan Airlines;

-- In October, China Southern Air Holding Company was officially founded after China Southern Airlines consolidated with China Northern Airlines and Xinjiang Airlines;

-- In late October, China Southern Airlines successfully inaugurated new Boeing 747 European/China cargo service between Shenzhen, Shanghai and Liege, Belgium;

-- November witnessed the completion of the foundation building of the new MTU Maintenance Zhuhai Co. Ltd., a joint venture between China Southern and MTU;

-- And also in November, Zhuhai Xiang Yi Aviation Technology Co. Ltd., a new joint venture between China Southern and CAE, was officially announced;

-- And finally China Southern Airlines was named as "The Best Airline in China" by TTG Asia Newspaper - the world's leading travel authority - at the TTG Travel Awards 2002 in Bangkok.

The largest airline in The People's Republic of China for the past 23 years, China Southern Airlines (www.cs-air.com/en) connects more than 80 cities around the globe. Major business and vacation destinations served in China include: Beijing, Chengdu, Guangzhou, Guilin, Hong Kong, Kunming, Shanghai, Shenzhen and Wuhan, as well as international service, including: Amsterdam, Bangkok, Fukuoka, Hanoi, Ho Chi Minh City, Islamabad, Kuala Lumpur, Jakarta, Los Angeles, Manila, Melbourne, Moscow, Osaka, Penang, Phnom Penh, Seoul, Singapore, Sydney and Tokyo.

For China Southern Airlines reservations and information, please contact your local travel agent.