New "Rate Break" Savings For China Southern Sky Pearl Club Members; Promotion Available At All 38 Shangri-La & Traders Hotels

China Southern Airlines (NYSE: ZNH) (HKSE: 1055), 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 38 Shangri-La Hotel and Resorts and Traders Hotels through February 2002 as part of the "Rate Break" promotion.

The Sky Pearl Cub is the fastest growing frequent flyer program in China with more than 600,000 members - with more than 5,000 new members joining each week.

"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.

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.

Sky Pearl Club members currently earn 800 Kilometers for each stay for non-discounted rack rates or corporate rates and must present their membership card at check-in.