Executive Directorate and Executive Committee

As mentioned earlier, the Board of Directors has delegated day-to-day management of the Company's business to the Executive Directorate. There are seven Members of the Executive Directorate and, together with the General Manager - Marketing and Station Business ("GM - M&SB"), they have formed an Executive Committee. The Executive Directorate and GM - M&SB regularly present to the Board reports on the performance of the principal activities of MTR. The Executive Directorate reviews progress on sustainability achievements at least twice per year. Due to the impact of SARS, briefings occurred in April 2003 and January 2004. The Managing Director for Operations and Business Development chairs the Corporate Sustainability Coordinating Committee (CSCC) and is responsible for sustainability issues at the Board level.