SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES -                                                       PRINTED: 15/10/03  PAGE:   1
                                                                                      SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Asia Satellite                 (01135)        * ISC as at 24/03/03 :         390,265,500

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
CITIC ASIA LIMITED       31/03/99 1,2            268,905,000                0                                             BOWENVALE LIMITED             268,905,000                                            N1         

                                                                                                                          ABLE STAR ASSOCIATES LI-                0                            
                                                                                                                          MITED                                      

CITIC DEVELOPMENT INC.   31/03/99                          0      268,905,000                                                                                                                                  N1  N2     

CITIC INTERNATIONAL HOL- 31/03/99 1,2            268,905,000                0                                             BOWENVALE LIMITED             268,905,000                                            N1         
DINGS LIMITED                                                                                                                                                        

                                                                                                                          ABLE STAR ASSOCIATES LI-                0                            
                                                                                                                          MITED                                      

                                                                                                                          CITIC ASIA LIMITED                      0                            

SHORTRIDGE LIMITED       31/03/99                          0      268,905,000                                                                                                                                  N1         


                    * ISC refers to the latest Issued Share Capital of the listed company recorded by the Exchange as at the date of this summaries.  It might not promptly reflect 
                      changes caused by share placements, rights issue, bonus issue, etc.  Readers should exercise caution when using these figures.

                                                                                               *****  END OF REPORT  *****


NOTE:

N1    As a result of intra-group reorganisation.

N2    CITIC Development Inc. is also known as CITIC Development Co. Ltd.