<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
China Southern Airlines Company Limited
- -------------------------------------------------------------------------------
(Name of Issuer)
Ordinary H Shares, RMB1.00 par value
- -------------------------------------------------------------------------------
(Title of Class of Securities)
169409109
--------------------------------------------
(CUSIP Number)
April 12, 1999
- -------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
Page 1 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
Goldman, Sachs & Co.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
New York
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
61,413,500
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
61,413,500
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
61,413,500
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
5.2%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
BD-PN-IA
- ------------------------------------------------------------------------------
Page 2 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
The Goldman Sachs Group, L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
61,414,500
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
61,414,500
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
61,414,500
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
5.2%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
HC-PN
- ------------------------------------------------------------------------------
Page 3 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
GS Capital Partners, L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
8,261,640
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
8,261,640
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
8,261,640
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.7%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 4 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
GS Capital Partners (Asia), L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
28,346,597
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
28,346,597
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
28,346,597
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
2.4%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 5 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
GS Capital Partners Offshore (Asia), L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Cayman Islands
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
4,699,963
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
4,699,963
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,699,963
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.4%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 6 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
GS Advisors, L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
36,608,237
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
36,608,237
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
36,608,237
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
3.1%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 7 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
GS Advisors (Cayman), L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Cayman Islands
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
4,699,963
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
4,699,963
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,699,963
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.4%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 8 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
Stone Street Fund 1997, L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
3,089,624
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
3,089,624
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
3,089,624
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.3%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 9 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
Bridge Street Fund 1997, L.P.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
1,500,176
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
1,500,176
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,500,176
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.1%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
PN
- ------------------------------------------------------------------------------
Page 10 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
Stone Street Asset Corp.
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
4,589,800
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
4,589,800
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,589,800
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.4%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
CO
- ------------------------------------------------------------------------------
Page 11 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
Goldman Sachs International
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
United Kingdom
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
1,000
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
1,000
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,000
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.0%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
OO
- ------------------------------------------------------------------------------
Page 12 of 32 pages
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- -----------------------
CUSIP No. 169409109 13G
- -----------------------
- ------------------------------------------------------------------------------
1. Name of Reporting Person
I.R.S. Identification No. of above Person
CIN Management
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3. SEC Use Only
- ------------------------------------------------------------------------------
4. Citizenship or Place of Organization
United Kingdom
- ------------------------------------------------------------------------------
5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
12,108,000
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
12,108,000
- ------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
12,108,000
- ------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- ------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
1.0%
- ------------------------------------------------------------------------------
12. Type of Reporting Person
OO
- ------------------------------------------------------------------------------
Page 13 of 32 pages
<PAGE>
Item 1(a). Name of Issuer:
China Southern Airlines Company Limited
Item 1(b). Address of Issuer's Principal Executive Offices:
Raiyun International Airport
Guangzhou
People's Republic of China
Item 2(a). Name of Persons Filing:
Goldman, Sachs & Co., The Goldman Sachs Group, L.P., GS
Capital Partners, L.P., GS Capital Partners (Asia), L.P., GS
Capital Partners Offshore (Asia), L.P., GS Advisors, L.P., GS
Advisors (Cayman), L.P., Stone Street Fund 1997, L.P., Bridge
Street Fund 1997, L.P., Stone Street Asset Corp., Goldman
Sachs International and CIN Management
Item 2(b). Address of Principal Business Office or, if none, Residence:
Goldman, Sachs & Co., The Goldman Sachs Group, L.P., GS
Capital Partners, L.P., GS Capital Partners (Asia), L.P.,
GS Advisors, L.P., Stone Street Fund 1997, L.P., Bridge
Street Fund 1997, L.P. and Stone Street Asset Corp.
85 Broad Street, New York, NY 10004
GS Capital Partners Offshore (Asia), L.P. and GS Advisors
(Cayman), L.P.
c/o Maples and Calder, P.O. Box 309, Grand Cayman, Cayman
Islands
Goldman Sachs International and CIN Management
133 Fleet Street
London EC4A 2BB, England
Item 2(c). Citizenship:
Goldman, Sachs & Co. - New York
The Goldman Sachs Group, L.P. - Delaware
GS Capital Partners, L.P. - Delaware
GS Capital Partners (Asia), L.P. - Delaware
GS Capital Partners Offshore (Asia), L.P. - Cayman Islands
GS Advisors, L.P. - Delaware
GS Advisors (Cayman), L.P. - Cayman Islands
Stone Street Fund 1997, L.P. - Delaware
Bridge Street Fund 1997, L.P. - Delaware
Stone Street Asset Corp. - Delaware
Goldman Sachs International - United Kingdom
CIN Management - United Kingdom
Item 2(d). Title of Class of Securities:
Ordinary H Shares, RMB1.00 par value
Item 2(e). CUSIP Number:
169409109
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or
13d-2(b) or (c), check whether the person filing is a :
(a).[_] Broker or dealer registered under Section 15 of the Act
(15 U.S.C. 78o).
(b).[_] Bank as defined in Section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c).[_] Insurance company as defined in Section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d).[_] Investment company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e).[_] An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E);
Page 14 of 32 pages
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(f).[_] An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F);
(g).[_] A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G);
(h).[_] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i).[_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j).[_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box [X].
Item 4. Ownership.*
(a). Amount beneficially owned:
See the response(s) to Item 9 on the attached cover page(s).
(b). Percent of Class:
See the response(s) to Item 11 on the attached cover page(s).
(c). Number of shares as to which such person has:
(i). Sole power to vote or to direct the vote: See the
response(s) to Item 5 on the attached cover page(s).
(ii). Shared power to vote or to direct the vote: See the
response(s) to Item 6 on the attached cover page(s).
(iii). Sole power to dispose or to direct the disposition
of: See the response(s) to Item 7 on the attached
cover page(s).
(iv). Shared power to dispose or to direct the disposition
of: See the response(s) to Item 8 on the attached
cover page(s).
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
See Exhibit (99.2)
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
- --------------------------
* The Goldman Sachs Group, L.P. ("GS Group"), Goldman, Sachs & Co.
("Goldman Sachs") and CIN Management ("CINMan") each disclaim beneficial
ownership of the securities beneficially owned by (i) any client accounts with
respect to which Goldman Sachs, CINMan, or employees thereof have voting or
investment discretion, or both and (ii) certain investment entities, of which a
subsidiary of GS Group or Goldman Sachs is the general partner, managing general
partner or other manager, to the extent interests in such entities are held by
persons other than GS Group, Goldman Sachs or their affiliates.
Page 15 of 32 pages
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Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
Page 16 of 32 pages
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<TABLE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in
this statement is true, complete and correct.
Date: April 22, 1999
<S> <C>
GOLDMAN, SACHS & CO. THE GOLDMAN SACHS GROUP, L.P
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
GS CAPITAL PARTNERS, L.P. GS ADVISORS, L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
GS CAPITAL PARTNERS (ASIA), L.P. GS ADVISORS (CAYMAN), L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
STONE STREET FUND 1997, L.P. BRIDGE STREET FUND 1997, L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
STONE STREET ASSET CORP. GS CAPITAL PARTNERS OFFSHORE (ASIA), L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
CIN MANAGEMENT GOLDMAN SACHS INTERNATIONAL
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
Page 17 of 32 pages
<PAGE>
INDEX TO EXHIBITS
Exhibit No. Exhibit
- ----------- -------
99.1 Joint Filing Agreement, dated April 22, 1999, between
Goldman, Sachs & Co., The Goldman Sachs Group, L.P., GS
Capital Partners, L.P., GS Capital Partners (Asia), L.P., GS
Capital Partners Offshore (Asia), L.P., GS Advisors, L.P.,
GS Advisors (Cayman), L.P., Stone Street Fund 1997, L.P.,
Bridge Street Fund 1997, L.P., Stone Street Asset Corp.,
Goldman Sachs International and CIN Management
99.2 Item 7 Information
99.3 Power of Attorney, dated December 21, 1998, relating to
Goldman, Sachs & Co.
99.4 Power of Attorney, dated December 21, 1998, relating to The
Goldman Sachs Group, L.P.
99.5 Power of Attorney, dated December 28, 1998, relating to GS
Capital Partners, L.P.
99.6 Power of Attorney, dated April 21, 1999, relating to GS
Capital Partners (Asia), L.P.
99.7 Power of Attorney, dated April 21, 1999, relating to GS
Capital Partners Offshore (Asia), L.P.
99.8 Power of Attorney, dated December 28, 1998, relating to GS
Advisors, L.P.
99.9 Power of Attorney, dated April 22, 1999, relating to GS
Advisors (Cayman), L.P.
99.10 Power of Attorney, dated December 28, 1998, relating to
Stone Street Fund 1997, L.P.
99.11 Power of Attorney, dated December 28, 1998, relating to
Bridge Street Fund 1997, L.P.
99.12 Power of Attorney, dated December 21, 1998, relating to
Stone Street Asset Corp.
99.13 Power of Attorney, dated April 22, 1999, relating to Goldman
Sachs International
99.14 Power of Attorney, dated April 22, 1999, relating to CIN
Management
Page 18 of 32 pages
<PAGE>
EXHIBIT (99.1)
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) promulgated under the Securities
Exchange Act of 1934, the undersigned agree to the joint filing of a Statement
on Schedule 13G (including any and all amendments thereto) with respect to the
Ordinary H Shares, RMB1.00 par value, of China Southern Airlines Company
Limited, and further agree to the filing of this agreement as an Exhibit
thereto. In addition, each party to this Agreement expressly authorizes each
other party to this Agreement to file on its behalf any and all amendments to
such Statement on Schedule 13G.
Date: April 22, 1999
GOLDMAN, SACHS & CO. THE GOLDMAN SACHS GROUP, L.P
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
GS CAPITAL PARTNERS, L.P. GS ADVISORS, L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
GS CAPITAL PARTNERS (ASIA), L.P. GS ADVISORS (CAYMAN), L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
STONE STREET FUND 1997, L.P. BRIDGE STREET FUND 1997, L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
STONE STREET ASSET CORP. GS CAPITAL PARTNERS OFFSHORE (ASIA), L.P.
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
CIN MANAGEMENT GOLDMAN SACHS INTERNATIONAL
By:/s/ Hans L. Reich By:/s/ Hans L. Reich
- --------------------------------- ---------------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
Page 19 of 32 pages
<PAGE>
EXHIBIT (99.2)
ITEM 7 INFORMATION
The securities being reported on by The Goldman Sachs Group, L.P. ("GS
Group"), as a parent holding company, are owned by GS Capital Partners, L.P., GS
Capital Partners (Asia), L.P., Stone Street Fund 1997, L.P., or Bridge Street
Fund 1997, L.P., each Delaware limited partnership, or are owned by GS Capital
Partners Offshore (Asia), L.P., a Cayman Islands exempted limited partnership,
(collectively, the "Investing Entities"), or Goldman Sachs International
("GSI"), a United Kingdom unlimited company, or are owned, or may be deemed to
be beneficially owned, by CIN Management ("CINMan"), a United Kingdom fund
manager, or Goldman, Sachs & Co.("Goldman Sachs"), a broker or dealer registered
under Section 15 of the Act and an investment adviser registered under Section
203 of the Investment Advisers Act of 1940. The general partner, managing
general partner or other manager of each of the Investing Entities is an
affiliate of GS Group. Goldman Sachs is the investment manager of certain of the
Investing Entities. GSI and CINMan are indirect wholly owned subsidiaries of GS
Group. GS Group is a general partner of and owns a 99% interest in Goldman
Sachs.
Page 20 of 32 pages
<PAGE>
Exibit (99.3)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that GOLDMAN, SACHS & CO. (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 21, 1998.
GOLDMAN, SACHS & CO.
By: The Goldman, Sachs & Co. L.L.C.
By:/s/ Robert J. Katz
- ---------------------------------
Name: Robert J. Katz
Title: Executive Vice President
Page 21 of 32 pages
<PAGE>
Exibit (99.4)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that THE GOLDMAN SACHS GROUP, L.P (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 21, 1998.
THE GOLDMAN SACHS GROUP, L.P
By: The Goldman Sachs Corporation
By:/s/ Robert J. Katz
- ---------------------------------
Name: Robert J. Katz
Title: Executive Vice President
Page 22 of 32 pages
<PAGE>
Exibit (99.5)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that GS CAPITAL PARTNERS, L.P. (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 28, 1998.
GS CAPITAL PARTNERS, L.P.
By: GS Advisors, L.P.
By: GS Advisors, Inc.
By:/s/ Kaca B. Enquist
- ---------------------------------
Name: Kaca B. Enquist
Title: Vice President
Page 23 of 32 pages
<PAGE>
Exibit (99.6)
POWER OF ATTORNEY
This power of attorney will expire on February 31, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GS CAPITAL PARTNERS (ASIA), L.P.
(the "Company") does hereby make, constitute and appoint each of Hans L. Reich
and Roger S. Begelman, acting individually, its true and lawful attorney, to
execute and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of April 21, 1999.
GS CAPITAL PARTNERS (ASIA), L.P.
By: GS Advisors, L.P.
By: GS Advisors, Inc.
By:/s/ Kaca B. Enquist
- ---------------------------------
Name: Kaca B. Enquist
Title: Vice President
Page 24 of 32 pages
<PAGE>
Exibit (99.7)
POWER OF ATTORNEY
This power of attorney will expire on February 31, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GS CAPITAL PARTNERS OFFSHORE
(ASIA), L.P. (the "Company") does hereby make, constitute and appoint each of
Hans L. Reich and Roger S. Begelman, acting individually, its true and lawful
attorney, to execute and deliver in its name and on its behalf whether the
Company is acting individually or as representative of others, any and all
filings required to be made by the Company under the Securities Exchange Act of
1934, as amended, giving and granting unto each said attorney-in-fact power and
authority to act in the premises as fully and to all intents and purposes as the
Company might or could do if personally present by one of its authorized
signatories, hereby ratifying and confirming all that said attorney-in-fact
shall lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of April 21, 1999.
GS CAPITAL PARTNERS OFFSHORE (ASIA), L.P.
By: GS Advisors (Cayman), L.P.
By: GS Advisors, Inc.
By:/s/ Kaca B. Enquist
- ---------------------------------
Name: Kaca B. Enquist
Title: Vice President
Page 25 of 32 pages
<PAGE>
Exibit (99.8)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that GS ADVISORS, L.P. (the "Company")
does hereby make, constitute and appoint each of Hans L. Reich and Roger S.
Begelman, acting individually, its true and lawful attorney, to execute and
deliver in its name and on its behalf whether the Company is acting individually
or as representative of others, any and all filings required to be made by the
Company under the Securities Exchange Act of 1934, as amended, giving and
granting unto each said attorney-in-fact power and authority to act in the
premises as fully and to all intents and purposes as the Company might or could
do if personally present by one of its authorized signatories, hereby ratifying
and confirming all that said attorney-in-fact shall lawfully do or cause to be
done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 28, 1998.
GS ADVISORS, L.P.
By: GS Advisors, Inc.
By:/s/Kaca B. Enquist
- ---------------------------
Name: Kaca B. Enquist
Title: Vice President
Page 26 of 32 pages
<PAGE>
Exibit (99.9)
POWER OF ATTORNEY
This power of attorney will expire on February 31, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GS ADVISORS (CAYMAN), L.P. (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of April 22, 1999.
GS ADVISORS (CAYMAN), L.P.
By: GS Advisors, Inc.
By:/s/ Richard A. Friedman
- ---------------------------------
Name: Richard A. Friedman
Title: Director
Page 27 of 32 pages
<PAGE>
Exibit (99.10)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that STONE STREET FUND 1997, L.P. (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 28, 1998.
STONE STREET FUND 1997, L.P.
By: Stone Street Asset Corp.
By:/s/ Kaca B. Enquist
- ---------------------------------
Name: Kaca B. Enquist
Title: Vice President
Page 28 of 32 pages
<PAGE>
Exibit (99.11)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that BRIDGE STREET FUND 1997, L.P. (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 28, 1998.
BRIDGE STREET FUND 1997, L.P.
By: Stone Street Asset Corp.
By:/s/ Kaca B. Enquist
- ---------------------------------
Name: Kaca B. Enquist
Title: Vice President
Page 29 of 32 pages
<PAGE>
Exibit (99.12)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that STONE STREET ASSET CORP. (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 21, 1998.
STONE STREET ASSET CORP.
By:/s/ Kaca B. Enquist
- ---------------------------------
Name: Kaca B. Enquist
Title: Vice President
Page 30 of 32 pages
<PAGE>
Exibit (99.13)
POWER OF ATTORNEY
This power of attorney will expire on February 31, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GOLDMAN SACHS INTERNATIONAL (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of April 22, 1999.
GOLDMAN SACHS INTERNATIONAL
By:/s/ Gregory K. Palm
- ---------------------------------
Name: Gregory K. Palm
Title: Director
Page 31 of 32 pages
<PAGE>
Exibit (99.14)
POWER OF ATTORNEY
This power of attorney will expire on February 31, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that CIN MANAGEMENT (the "Company") does
hereby make, constitute and appoint each of Hans L. Reich and Roger S. Begelman,
acting individually, its true and lawful attorney, to execute and deliver in its
name and on its behalf whether the Company is acting individually or as
representative of others, any and all filings required to be made by the Company
under the Securities Exchange Act of 1934, as amended, giving and granting unto
each said attorney-in-fact power and authority to act in the premises as fully
and to all intents and purposes as the Company might or could do if personally
present by one of its authorized signatories, hereby ratifying and confirming
all that said attorney-in-fact shall lawfully do or cause to be done by virtue
hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of April 22, 1999.
CIN MANAGEMENT
By:/s/ David B. Ford
- ---------------------------------
Name: David B. Ford
Title: Director
Page 32 of 32 pages
</TABLE>
