2004 Annual Report

	MTR Corporation Limited (00066)

Cover 25 years of serving Hong Kong and beyond Contents Milestones 2004 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: Station commercial & other businesses Executive management's report: International expansion Executive management's report: Property business (part 1) Executive management's report: Property business (part 2) Executive management's report: Future Hong Kong projects Executive management's report: Human resources Financial review (part 1) Financial review (part 2) Ten-year statistics Investor relations Sustainability Corporate governance 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 and inside back cover Back cover