Press Release

Stockholm, February 28, 2001

Chris Bannister, 41 years old, enters as CEO of the UMTS-operator Hi3G Access AB. Chris Bannister has fifteen years experience in the mobile telecommunications industry, having started and managed mobile telephone companies in Europe and Asia.

"Hi3G is in an excellent position to lead the way in 3G. We have no baggage in terms of latent systems or organization culture. As a pure 3G operator we can fully focus on bringing the benefits this new technology can deliver. This advantage can't be overestimated." Chris Bannister says in a statement.

Chris Bannisters most recently held a position at the American world leading broadband operator ntl, where he lead the development of ntl's 3G operations. Prior to his engagement with ntl Bannister held leading positions with Swisscom, Cable & Wireless, Mercury One2One and Motorola.

"The critical success factor will be the ability to build an organisation that can deliver to our customers the relevant services that enhance their lifestyle. 3G is as much about developing services and marketing as it is about physical infrastructure.

It is exciting for me to get the opportunity to do this in Sweden, and to participate in the development of a world leading market for the third generation mobile communication," Bannister says.

The Hi3G chairman Bjrn Svedberg is pleased to present a CEO so soon after the European Commission has given its final approval to the Hi3G joint venture between Hutchison Whampoa and Investor AB.

"With Chris Bannister in charge we get the combination of solid marketing competence and extensive experience of start-ups in mobile services required for Hi3G to become a success." Bjrn Svedberg says in a statement.

For further information please contact:

Bjrn Svedberg,
Tel: +46 8 545 01 777
bs@kaw.se

Chris Bannister
Tel: +46 8 696 00 36
chris.bannister@hi3gaccess.se

Hi3G is a joint venture between Hutchison Whampoa Ltd. (60%) and Investor AB (40%). Hi3G's ambition is to be Sweden's leading UMTS operator, with innovative services and a high quality network. Hi3G's services will be available in the Swedish market from 1 January 2002 the latest, and full population coverage will be reached by the end of 2003.

Chris Bannister