PRESS RELEASE

Hong Kong, 2 March 2004 - Hutchison Global Communications Limited ("HGC") and KT Corporation ("KT") are proud to announce the joint establishment of the world's first inter-Autonomous System ("AS") International Ethernet network.

The network, driven by powerful Virtual Private LAN Service ("VPLS") technology, offers users multipoint-to-multipoint International Ethernet services and allows enterprises to connect their Hong Kong and South Korean Ethernet LANs in a simple, flexible and cost-effective manner.

Metro Ethernet is a unique and powerful networking service that has been widely adopted in the networking industry since its launch and has proven especially useful in high-population density regions like Asia.

HGC and KT are one of the first carriers in the world to have deployed this Metro Ethernet technology over their state-of-the-art networks. The deployment marks a technology breakthrough that transforms traditional local Metro Ethernet connectivity into a powerful multipoint-to-multipoint International Ethernet service that can extend across geographical boundaries. It is as if the sites were all attached to the same simple Ethernet LAN.

An inauguration ceremony held on 25 February in Seoul marked the world's first commercial deployment of this inter-carrier ethernet network and celebrated the collaboration of HGC and KT, two of the industry's leading global players. This partnership galvanises a wealth of expertise in advance telecom technologies. This will also maximise the operating cost efficiencies of users' networks between South Korea and Hong Kong, both regions with some of the highest broadband penetration rates in the world, according to an ITU report in 2002.

The new service uses VPLS, an emerging technology, and the widely adopted Ethernet standard. Ethernet is the most cost-effective and common interface in the market. Instead of an international WAN connection, the service constructs a LAN-to-LAN environment. This means a stable, simple-to-use and cheap-to-run network.

The network is delivered to user-enterprises as a "plug-n-play" Ethernet interface, meaning no additional investment in hardware equipment is required.

Enterprises can scale the size of their connections and the bandwidth capacities with Ethernet, Fast Ethernet as well as Gigabit Ethernet interfaces. This Layer 2 Ethernet service gives enterprises total network control.

"Taking into account of IP traffic explosion all over the world, KT will expand our global Ethernet connectivity with major international telecommunication operators and supply enterprises' overseas telecommunication demands for use of flexible bandwidth service." said Sang-Hoon Lee, COO & Executive Vice President, Network Group of KT.

"HGC is proud of its partnership with KT and is proud to be the first Fixed Telecommunication Network Services operator in Hong Kong to lead the global Ethernet technology breakthrough. It further strengthens our position in the regional telecommunications arena," said Peter Wong, Chief Executive Officer of HGC. "This development made across carrier boundaries addresses enterprises' escalating demand for reduced total cost of ownership. It also allows us to better serve our customers with faster service provisioning and more value-added offerings."

This service caters to the stringent yet cost-sensitive requirements of middle-to-large enterprises that rely on seamless networking while the low cost and simple deployment with appeal to SME's. To ensure the best possible service, HGC offers a one-stop-shop ordering service in addition to round-the-clock network monitoring and management.

The joint cooperation with KT signifies another advancement of HGC's presence in the global marketplace, following the recent collaboration announcements with several key global telecom players. Last month, HGC completed a 10Gbit/s capacity network interconnection with China Netcom International, which has boosted HGC's total Mainland-Hong Kong network capacity to 22.5Gbit/s, the largest cross-border bandwidth amongst all Hong Kong FTNS operators. Just two months before that, HGC reached separate agreements with INET of Thailand and HiNet of Taiwan to identify market opportunities in IP-related services.

About Hutchison Global Communications Limited

Hutchison Global Communications Limited ("HGC") is a wholly owned subsidiary of the Hutchison Whampoa Group. Since its establishment in 1995, HGC is committed to building its own network infrastructure. The Company now owns and operates the largest full fibre-optic network in Hong Kong. Together with the scalability of its global bandwidth capacity and direct links to Mainland China networks, HGC provides instant connectivity to regions including Asia, North America and Europe.

Riding on HGC's advanced fibre-optic technology, customers enjoy its leading-edge services such as Ethernet symmetrical broadband access, corporate data transmission solutions, International Private Leased Circuit Services, Internet Protocol Transit Services, as well as quality local and overseas call services. Building on its leading presence in Hong Kong, HGC is also establishing a further strategic foothold in the global marketplace. For more details, please visit www.hgc.com.hk

About KT Corporation

KT Corporation ("KT") was established on December 10, 1981. The company is South Korea's biggest fixed-line and broadband firm.

Meanwhile, after taking over Hansol M.com in 2000, in an effort to expand its wireless communications service, KT secured its foundation for wireless communications with KTF (a subsidiary of KT). Thus KT was able to build up its position as a worldwide telecommunications service provider, covering both wired and wireless communication networks.

KT secured more than 4 million subscribers in March 2002 for the first time in the history of high-speed Internet. KT surpassed its own record by posting 5 million subscribers in January 2003, which has catapulted KT into the world's best broadband service provider.

KT was reborn as a completely privatized corporation in May 2002. Based on the privatization plan, KT is determined to further grow as one of the world's elite by realizing the corporate vision of the Valuable Networking Company - that of creating the highest value and providing the best service for its customers.

For more details, please visit www.kt.co.kr

For more information, please contact:

Attachment

Sang-Hoon Lee, COO & Executive Vice President, Network Group of KT (left) shakes hands with Peter Wong, Chief Executive Officer of HGC, signifying the new International Ethernet service across carriers' boundaries is in place to maximise customers' operating efficiency with stable and simple-to-use network.