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Press Release
Press Release
6 Jan 2003
Wharf New T&T Changes Name to "Wharf T&T Limited"
Reflecting Its Strong Market Position and Commitment to Excellence, & Highlighting Its Strong Links with The Wharf Group

The fastest growing fixed telecommunications network services (FTNS) operator in Hong Kong announced today it has adopted Wharf T&T Limited as its new name. The company was formerly known as Wharf New T&T Limited.

"Through vigorous development, Wharf T&T is now a major carrier for both local and international telecommunications. With an installed base of over 337,000 voice and data lines and an overall market share of 9%, Wharf T&T's market share of 15% in the business sector is second to none, outside of the ex-monopoly, and rapidly growing. Our commitment to quality and innovation has resulted in a compound annual growth rate of 60% over the past several years," according to Mr. Stephen Ng, Chairman and CEO of Wharf T&T.

"As an established carrier in the telecom market, we have decided the time has come to drop the word "New" from our name. This change embodies our confidence in taking on new and old competition in a fully liberalised market. The new name reflects not only our strong market position but also our expanding capabilities and commitment to excellence as an industry leader, while highlighting the traditional strong links with our parent company, The Wharf Group, with its history of 116 years in Hong Kong."

"The new name, Wharf T&T, also reinforces our determination to make changes whenever necessary to lead the competition and to meet the challenges of today's dynamic business environment. We believe that customers' needs are the driving force behind everything we do. This will give us a distinct edge over our competitors while enhancing our overall future prospects." Mr. Ng added.

Wharf T&T has established a solid foundation for its future with a profitable business model. Wharf T&T is well positioned to meet the competition today and will continue to sharpen its competitive edge to take on new challenges and opportunities in the future.

About Wharf T&T Limited

Wharf T&T, licensed in 1995, is the fastest growing network operator after the opening of Hong Kong's fixed telecommunication market, owning the second largest fully fibre-optic network in Hong Kong. Since its launch, the Company has continually sought to upgrade its services and deliver competitive products at competitive prices to Hong Kong businesses and consumers.

Wharf T&T is a member of The Wharf Group of companies, one of the largest groups of companies in Hong Kong. The Group also owns i-CABLE Communications Limited, the No. 1 Television Station in Hong Kong for News, Movies and Sports, as well as a leading Internet access service provider.

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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