FOREX LOSSES

CHINA RAILWAY CONSTRUCTION, CHINA RAILWAY GRP POST FOREX LOSSES.

China Railway Construction reported an exchange loss of 320 million yuan (US$46.82 million) from July to September, instead of the rumored 600 million yuan.

China Railway Group reported 1.939 billion yuan of exchange loss, or 0.09 yuan per share on its remaining foriegn exchange proceeds raised from the H-share issue by September 30, mainly caused by appreciation of the Australian dollar.

The two companies said they were making structural adjustments of their foreign currency deposits to prevent exchange rate risks.

They also denied any investment in financial derivatives