September 19, 2001

SmarTone announced that it has been provisionally awarded a 3G licence in Hong Kong, with a spectrum of 2x15MHz paired and 5MHz unpaired at the reserve price of 5% royalty rate.

Mr Raymond Kwok, Chairman of SmarTone Telecommunications Holdings Limited said, "We are pleased with the provisional award of a 3G licence as it will enhance SmarTone's leading position as a major wireless player in Hong Kong. The Company foresees that 3G offers attractive business potential in providing innovative multimedia services and firmly believes it will take the Company to a new level of success."

Mr Douglas Li, CEO of SmarTone Telecommunications Holdings Limited said, "A 3G licence will allow us to deploy the spectrum and technology to enable wireless broadband, multi-faceted and personalised services. SmarTone envisages new compelling services that will surpass what non-3G networks can provide, and which will meet customers' individual needs."

"We consider the licence price is reasonable for an operator like SmarTone, with a broad customer base, a proven track record in bringing new innovative services to its customers, and ample net cash resources. SmarTone is confident that its 3G service will bring substantial long-term value to all its customers and stakeholders." Mr Li added.

SmarTone will invest a total of not less than HK$2 billion in the development of 3G business over the first 3 years. It had an early start on the planning and development of 3G and is now well prepared for the coming 3G rollout. The Company has also successfully conducted a 3G trial in 1999, which was the first in the Greater China region.

About SmarTone

Founded in Hong Kong in 1992, SmarTone is a major communications service provider in Hong Kong and offers a wide range of telecommunications services. The Company was the first operator to launch a GSM service in Asia in 1993. Since then it has established itself as a leading operator with a superior network quality and premium customer service. The Company introduced the world first fully-overlaid Dual Band network in 1998. SmarTone currently has a solid customer base of over one million.

SmarTone (SEHK : 0315) is a public listed company in Hong Kong. The Company's major shareholders include Sun Hung Kai Properties (28.41%) and British Telecommunications plc (20.52%). For more information, please visit the group's website: http://www.smartone.com.hk.

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