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HUTCHISON WHAMPOA LIMITED
(Incorporated in Hong Kong with limited liability)

ANNOUNCEMENT

Hutchison Whampoa Limited ("the Company") announces that the Company will transfer its 50% shareholding interests in e-plus Hutchison to KPN Mobile N.V. ("KPN Mobile") and will no longer participate in the consortium to operate a third generation ("3G") German licence.

e-plus Hutchison, a company owned as to 50% by the Company and 50% by KPN Mobile, announced that at the end of the Universal Mobile Telecommunications System ("UMTS") auction in Germany, it has successfully bid for the 10 MHz of paired UMTS spectrum for Euro 8.394 billion (approximately HK$60 billion, at an exchange rate of HK$7.145: Euro 1).

The Company and KPN Mobile also announce that they have agreed that subsequent to the auction, KPN Mobile will acquire the Company's entire interest in e-plus Hutchison. KPN Mobile will own 100% of e-plus Hutchison and the Company will no longer participate in the consortium to operate a 3G German licence. As a new entrant to the German market, the cost of the licence is higher than the Company had anticipated. Moreover, 15MHz was the preferred licence for the two operators together and the Company and KPN Mobile concluded after the auction that 10 MHz will not be sufficient.

By Order of the Board

Edith Shih
Company Secretary

Hong Kong, 18 August 2000

22/F, Hutchison House, 10 Harcourt Road, Hong Kong. Tel: 2128 1188 Fax: 2128 1705
Website: http://www.hutchison-whampoa.com

Please also refer to the published version of this announcement in Hong Kong iMail and Sing Tao Daily.

Source: Hutchison Whampoa Limited

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