Annual Report 2003

	MTR Corporation Limited (00066)

Cover Contents Milestones 2003 Chairman's letter CEO's review of operations and outlook Operating network with future extensions Key figures Executive management's report: Railway operations (part 1) Executive management's report: Railway operations (part 2) Executive management's report: Other businesses Executive management's report: Property review (part 1) Executive management's report: Property review (part 2) Executive management's report: Future projects Executive management's report: Human resources Corporate governance Sustainability Investor relations Financial review (part 1) Financial review (part 2) Ten-year statistics Board and Executive Directorate Key corporate management Report of the Members of the Board Contents of accounts and notes Auditors' report Consolidated profit and loss account Consolidated balance sheet Balance sheet Consolidated statement of changes in equity Consolidated cash flow statement Notes to the accounts Unaudited supplementary information for US bond holders Glossary Inside back cover Back cover