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Press Release
7 Mar 2016
Wharf T&T Acquired PIHK To Further Reinforce ICT Leadership Position in Business Market

Hong Kong — March 7, 2016 —Wharf T&T Limited (Wharf T&T), the only major “Strictly Business” ICT service provider in Hong Kong, today announced it has completed the acquisition of PIHK Network Limited (PIHK) from Telstra Corporation Limited (Telstra), a leading telecommunications and information services company.

PIHK operates a very successful non-network infrastructure based business internet service. It serves over 4,000 business enterprises in Hong Kong offering a wide variety of ICT solutions, including business broadband, local wide area network connections, global IP VPN network, data centre, web hosting, email and messaging services. Coupled with Wharf T&T’s Fibre-To-The-Desk (FTTD) network connecting up 5,000 commercial buildings and covering 90% of business demands in the territory, its robust systems integration capabilities and pioneering FibreCloud platform, customers of PIHK will, through this affiliation, tap into the expanded power of communications and cloud technologies to bring their businesses to new heights. They join Wharf T&T’s over 50,000 existing business customers.

Wharf T&T continued to report resilient record-high financial performance in 2015 against a slowed economy. This was underpinned by its ability to offer a rich portfolio of superior ICT solutions to address the growing demand of its business customers. Total turnover for 2015 increased by 2% to HK$1,991 million, as core fixed- line revenue posted solid growth of 5% to HK$1,345 million, attributable to the increased market penetration of its data business. EBITDA for the year was HK$775 million with a convincing 39% EBITDA margin. Free cash flow, after interest, tax and capex, reached a record HK$450 million, and represented an increase of 18% over the previous year.

Vincent Ma, President of Wharf T&T said, “The acquisition of PIHK demonstrates, once again, our ambitions to become the genuine leading ICT service provider in the business sector in Hong Kong. An inorganic addition to our customer base, revenue and profitability will give us even better scale to compete and win in this market. We are excited to welcome all the PIHK customers. We are committed to serving them with utmost professionalism and passions, and to further enabling their businesses with our very comprehensive suite of ICT products and solutions.”

About WTT HK Limited (“WTT”)
WTT (formerly known as Wharf T&T) is a leading ICT service provider in Hong Kong with an aspiration of "Winning Together" with business customers. Utilising its extensive and secure Fibre-To-The-Desk (FTTD) network infrastructure, WTT provides business customers with leading-edge ICT solutions meeting their diverse business needs. WTT’s rich ICT service portfolio ranges from fibre-based high-speed business broadband, sophisticated local and international data networking, advanced IP-based voice telephony, best-in-class public cloud services, and complex mission-critical system integration solutions that aim at enabling businesses of its customers. WTT is not only committed to engaging in solid and long-term ICT partnerships with our customers but also endeavouring best-practice standards and performances, as well as contributing to corporate social responsibility in Hong Kong while doing businesses. For more information, please visit www.wtthk.com.hk.