Announcement

This announcement is made by China Eastern Airlines Corporation Limited pursuant to Rule
13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong
Kong Limited.

Reference is made to the announcement published by China Eastern Airlines Corporation Limited
(the “Company”) dated 10 December 2008 in relation to the proposed subscriptions of new A shares and new H shares in the Company by China Eastern Air Holding Company (“CEA Holding”) and
CES Global Holdings (Hong Kong) Limited respectively (the “Subscription Plan”).

The Company has been advised by CEA Holding today that CEA Holding intends to make material
adjustments to the Subscription Plan and the Company will discuss such proposed adjustments to the Subscription Plan with CEA Holding.

The Company has applied to the Shanghai Stock Exchange for suspension of trading of its A shares on the Shanghai Stock Exchange starting from 25 December 2008. Further announcement with respect to the development of the discussions will be made and trading in the A shares of the Company on the Shanghai Stock Exchange will be resumed on 30 December 2008.

Investors are advised to exercise caution when dealing in the shares of the Company.

this doesnt sound very good.