[Hong Kong - 1 March 2003] Hutchison Port Holdings (HPH) is pleased to announce the establishment of Shanghai Pudong International Terminals Limited (SPCT).

The newly formed company is a joint venture owned by Shanghai Waigaoqiao Free Trade Zone Stevedoring Company (40%), Hutchison Ports Pudong Limited (30%), COSCO Pacific (China) Investments Limited (20%), and Shanghai Investment Infrastructure Holdings Limited (10%). With a tenure of 50 years the joint venture has a registered capital of RMB 1.9 billion.

Located in the Waigaoqiao Free Trade Zone, SPCT operates Waigaoqiao Terminal Phase I. In terms of facilities, the container terminal has three berths with a total quay length of 900 meters, and the capacity to handle the latest generation container vessels. The terminal covers a total area of 500,000 square meters, including a container freight station (CFS), reefer facilities and dangerous goods handling areas. The terminal is equipped with nine quay cranes and 30 Rubber-tyred Gantry Cranes (RTGC).

In 2002, the container terminal recorded over 1.78 million TEU. The world's leading shipping lines offer 70 services monthly on 16 routes from SPCT to Europe, East & West Coasts United States, the Mediterranean, Middle East, Western and Southern Africa, as well as numerous domestic feeder services.

Notes to Editor:

Hutchison Port Holdings (HPH) is the world's leading port investor, developer and operator with interests in 15 countries throughout Asia, Middle East, Africa, Europe and the Americas. Today, HPH operates a total of 169 berths in 30 ports together with a number of transportation related service companies. With industry recognized core competence in the effective and efficient management and operation of container ports, the HPH Group handled 27 million TEU in 2001.