New `Rate Break' Savings for China Southern Sky Pearl Club Members; Promotion Available at All 38 Shangri-La & Traders Hotels

Business Wire, May 29, 2002

Business & Travel Editors

HONG KONG--(BUSINESS WIRE)--May 29, 2002

China Southern Airlines (NYSE:ZNH) (HKSE:1055) (www.cs-air.com/en), the largest airline in The People's Republic of China, is pleased to announce that members of its Sky Pearl Club can receive savings up to 40% at all Shangri-La Hotels and Resorts & Traders Hotels starting June 1 through August 31, 2002, as part of the new "Rate Break" promotion.

The Sky Pearl Club is the fastest-growing frequent flyer program in China with more than 1 million members and more than 25,000 new members joining every week. China Southern Airlines has been FFP partners with Shangri-La Hotels and Resorts since June 2000.

In addition to the significantly reduced rates, which include complimentary breakfast, Shangri-La and Traders Hotels are offering double mileage at all hotels during the same promotional period for members of The Sky Pearl Club.

"We are very excited for our Sky Pearl Club members to take advantage of this terrific promotion," said Mr. Li Kun, Vice President, China Southern Airlines.

Commenting on this promotion, Carmen Lam, Shangri-La's Group Director of Sales and Marketing, said, "The Rate Break is an excellent opportunity to experience Shangri-La's award-winning hospitality and luxury at very affordable prices. This fabulous offer should entice both the business and leisure traveler to visit our hotels and resorts."

---------------------------------------- -----------------------------
HOTELS                                                     RATES FROM
---------------------------------------- -----------------------------

Mainland China

---------------------------------------- -----------------------------
Shangri-La Hotel, Beihai                                        US$57
---------------------------------------- -----------------------------
Shangri-La Hotel, Beijing                                      US$110
---------------------------------------- -----------------------------
China World Hotel, Beijing                                     US$138
---------------------------------------- -----------------------------
Traders Hotel, Beijing                                         US$102
---------------------------------------- -----------------------------
The Kerry Centre Hotel, Beijing                                US$158
---------------------------------------- -----------------------------
Shangri-La Hotel, Changchun                                     US$81
---------------------------------------- -----------------------------
Shangri-La Hotel, Dalian                                        US$95
---------------------------------------- -----------------------------
Shangri-La Hotel, Hangzhou                                      US$96
---------------------------------------- -----------------------------
Shangri-La Hotel, Harbin                                        US$70
---------------------------------------- -----------------------------
Shangri-La Dingshan, Nanjing                                    US$75
---------------------------------------- -----------------------------
Shangri-La Hotel, Qingdao                                       US$88
---------------------------------------- -----------------------------
Pudong Shangri-La, Shanghai                                    US$168
---------------------------------------- -----------------------------
Traders Hotel, Shenyang                                         US$65
---------------------------------------- -----------------------------
Shangri-La Hotel, Shenzhen                                     US$113
---------------------------------------- -----------------------------
Shangri-La Hotel, Wuhan                                         US$71
---------------------------------------- -----------------------------
Shangri-La Golden Flower Hotel, Xian                            US$76
---------------------------------------- -----------------------------

Hong Kong SAR

---------------------------------------- -----------------------------
Island Shangri-La, Hong Kong                                  HK$1495
---------------------------------------- -----------------------------
Kowloon Shangri-La, Hong Kong                                 HK$1380
---------------------------------------- -----------------------------

Fiji Islands

---------------------------------------- -----------------------------
Fiji Mocambo, Nadi                                              F$154
---------------------------------------- -----------------------------
Shangri-La's Fijian Resort, Yanuca                              F$259
---------------------------------------- -----------------------------

Indonesia

---------------------------------------- -----------------------------
Shangri-La Hotel, Jakarta                                      US$135
---------------------------------------- -----------------------------
Shangri-La Hotel, Surabaya                                      US$76
---------------------------------------- -----------------------------

Malaysia

---------------------------------------- -----------------------------
Shangri-La's Tanjung Aru Resort, Kota Kinabalu                  RM288
---------------------------------------- -----------------------------
Shangri-La's Rasa Ria Resort, Kota Kinabalu                     RM300
---------------------------------------- -----------------------------
Shangri-La Hotel, Kuala Lumpur                                  RM305
---------------------------------------- -----------------------------
Shangri-La Hotel, Penang                                        RM235
---------------------------------------- -----------------------------
Shangri-La's Golden Sands Resort, Penang                        RM213
---------------------------------------- -----------------------------
Shangri-La's Rasa Sayang Resort, Penang                         RM273
---------------------------------------- -----------------------------

Myanmar

---------------------------------------- -----------------------------
Traders Hotel, Yangon                                           US$78
---------------------------------------- -----------------------------

Philippines

---------------------------------------- -----------------------------
Shangri-La's Mactan Island Resort, Cebu                        US$120
---------------------------------------- -----------------------------
Edsa Shangri-La, Manila                                        US$126
---------------------------------------- -----------------------------
Makati Shangri-La, Manila                                      US$156
---------------------------------------- -----------------------------
Traders Hotel, Manila                                           US$70
---------------------------------------- -----------------------------

Singapore

---------------------------------------- -----------------------------
Shangri-La Hotel, Singapore                                     S$299
---------------------------------------- -----------------------------
Shangri-La's Rasa Sentosa Resort, Singapore             Weekday S$190
                                                        Weekend S$220
---------------------------------------- -----------------------------
Traders Hotel, Singapore                                        S$170
---------------------------------------- -----------------------------

Taiwan

---------------------------------------- -----------------------------
Far Eastern Plaza Hotel, Taipei                               NT$5810
---------------------------------------- -----------------------------

Thailand

---------------------------------------- -----------------------------
Shangri-La Hotel, Bangkok                                      US$138
---------------------------------------- -----------------------------
All rates are subject to service charge and government tax.
All rates are subject to availability, and blackout dates may apply.