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Press Release
4 Nov 2002
Wharf New T&T Reverts to Old China-bound IDD007 Rates
Wharf New T&T received notification from relevant telecom operators in Mainland China on 28 October 2002 indicating the increase of termination rate to US$0.17 with effect from 1 November 2002. Due to the short notice, there was insufficient time to negotiate and work out the cost details. To avoid losses, we increased our China-bound rates accordingly.

Since then, Wharf New T&T has held further discussions with operators in Mainland China including China Telecom, China Netcom, China Unicom and China Mobile, etc. We are pleased that various issues have now been clarified and consensus reached between the relevant parties. The impact of the termination rate increase on our total cost is smaller than expected. Accordingly, the corresponding impact on our customers will also be relatively small.

Based on the above and after due consideration, Wharf New T&T has decided to revert all the China-bound IDD007 rates to those prevailing prior to our announcement on 1 November 2002. In other words, for the benefit of our customers, Wharf New T&T will maintain the previous rates for the IDD007 and CALL FORWARD ROAMING with effect from 1 November 2002 until further notice.
About Wharf New T&T

Wharf New T&T, licensed in 1995, is the fastest growing network operator after the opening of Hong Kong's fixed telecommunication market. 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 New 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.

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