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Press Release
21 Dec 2005
Wharf T&T and PCCW Settle Long-running Disputes
Wharf T&T Limited (Wharf T&T) announced today the signing of new agreements with PCCW-HKT Telephone Limited (PCCW) on Type II interconnection. On 6 July 2004 the Government announced that mandatory Type II interconnection at telephone exchanges (leasing of the copper 'last mile') will be withdrawn by 30 June 2008. The new agreements secure the availability of narrowband and broadband ‘last mile' for Wharf T&T until October 2011 on current market terms.

In a package of agreements, Wharf T&T and PCCW have also settled pending litigation on delivery fees for international calls and Type II interconnection. Wharf T&T further agreed to withdraw its pending requests for determination on the terms and conditions for narrowband and broadband Type II interconnection currently with the Telecommunications Authority.

"This settlement package will put behind us the major disputes between Wharf T&T and PCCW. It will free up valuable management, operational and financial resources for re-focusing on the customer," commented Mr. Raymond Mok, Vice President of Finance & Business Administration, Wharf T&T.

"The rollout speed of Wharf T&T's network has more than tripled in the past 12 months and will continue regardless. What this settlement would get us is an additional 'safety net' in case any particular customer may be otherwise concerned." added Mr. Mok.
About Wharf T&T Limited

Wharf T&T, marking its tenth anniversary in 2005 with ten consecutive years of sustained growth, is a leading fixed-line operator with HK$5 billion of investment in its own telecommunications network infrastructure in Hong Kong. On top of its ongoing commitment to upgrade network and services to deliver competitive products at competitive prices to Hong Kong businesses and consumers, Wharf T&T has established a sound fixed-line business model with a proven track record of rising profitability since 2001 and positive free cash flow since 2004.

Wharf T&T is a core member of The Wharf Group, one of the largest groups of companies in Hong Kong. The Wharf Group also owns i-CABLE Communications Limited, the leading cable television station and Internet access service provider in Hong Kong.

For further information about both Wharf T&T and The Wharf Group, please visit the Wharf T&T website at www.wharftt.com.

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