China Power Dev : Issuance of RMB1 Billion Short-Term Debentures by Wu Ling Power in the PRC

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China Power International Development Limited

中 國 電 力 國 際 發 展 有 限 公 司

(incorporated in Hong Kong with limited liability)

(Stock Code: 2380)

Overseas Regulatory Announcement Issuance of RMB1 Billion Short-Term Debentures by Wu Ling Power in the PRC

Reference is made to the announcement of China Power International Development Limited (the "Company") dated 12 November 2015 in relation to the issuance of short-term debentures in tranches by Wu Ling Power Corporation* ("Wu Ling Power", a 63%-owned subsidiary of the Company) for the total amount of RMB1 billion within the effective registration period of 2 years in the People's Republic of China ("PRC"). This is the fourth and the last tranche of the short-term debenture issue.

Wu Ling Power completed the issuance of the 2016-second-tranche of the short-term debentures (the "2016-second-tranche Debenture") on 19 April 2016. The issuance amount for the 2016-second-tranche Debenture was RMB200 million with a maturity period of 365 days at the unit face value of RMB100, and the interest rate at 3.10% per annum. China Everbright Bank Co., Ltd. and Bank of China Limited acted as the joint lead underwriters for the 2016-second-tranche Debenture by centralized placing through book-building and issued in the domestic bond market among banks in the PRC.

Pursuant to the "Wu Ling Power Corporation the 2016-Second-Tranche of the Short-Term Debentures Credit Rating Report" issued by China Lianhe Credit Rating Co., Ltd. dated 16 February 2016, the corporate long-term credit rating of Wu Ling Power is AA+, the rating outlook is stable, and the credit rating of the 2016-second-tranche Debenture is A-1. Proceeds from the 2016-second-tranche Debenture will be used by Wu Ling Power mainly for repayment of existing bank loans, lowering its interest costs and further enhancing its debt structure.

In connection with issuing the 2016-second-tranche Debenture, Wu Ling Power published an announcement in the PRC to provide investors with certain information concerning the terms and conditions of the debenture and the credit rating reports. The latest audited accounts of Wu Ling Power for the year ended 31 December 2015 will be released by the end of April 2016 as required under the terms of the aforesaid debenture.

The relevant documents could be found on the websites at www.chinamoney.com.cn and www.shclearing.com.

* English or Chinese translation, as the case may be, is for identification only.

By order of the Board

China Power International Development Limited Yu Bing

Executive Director

Hong Kong, 20 April 2016

As at the date of this announcement, the directors of the Company are: executive directors Yu Bing and Wang Zichao, non-executive directors Wang Binghua and Guan Qihong, and independent non-executive directors Kwong Che Keung, Gordon, Li Fang and Tsui Yiu Wa, Alec.