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FOR IMMEDIATE RELEASE 10 September 2002

Hactl reported continued year-on-year tonnage growth in August

(10 September 2002, Hong Kong) Hong Kong Air Cargo Terminals Limited (Hactl) recorded continued year-on-year tonnage growth in August 2002. The Company handled 157,307 tonnes in August 2002 - an increase of 23.4% against August 2001. Despite the fact that throughput in August declined 3% compared with the volume handled in July 2002, year-on-year growth for the cumulative tonnage throughput from January to August remained strong - up 19.8% against the same period last year, with total throughput of 1,192,228 tonnes.

In the export sector, a total of 82,937 tonnes of cargo was handled in August 2002, representing an increase of 27.8% compared with August last year. Export tonnage growth in the month continued to be driven by increase in volume to the U.S. and Europe, up 37.4% and 32.3% respectively year-on-year. Cumulative export tonnage for the period January to August 2002 was 616,241 tonnes, of which exports to the U.S. market accounted for 33%, driving the cumulative export volume growth in the period to 29.2% year-on-year.

Import volume in August 2002 was 52,940 tonnes, up 17.3% compared with the same month last year. Strong intra-Asia trade continued to be the main driver for import volume growth. In particular, import volume from Mainland China (+40.5%), Japan (+22.5%) and Taiwan (+26.6%) continued to lead the growth for the period of January to August 2002. Total import tonnage for the period stood at 416,897 tonnes, up 9.7% on a year-on-year basis.

Transshipment volume increased by 23% in the month of August and 14.8% for the period January to August 2002, with total transshipment volume of 159,090 tonnes recorded for the period.

Summit Chan, Hactl's Director - Marketing and Customer Service said, "Although in relative terms export growth momentum in August slowed marginally, total throughput growth is maintained, indicating continued resilience in the Mainland manufacturing sectors and their major markets."

Hactl's Tonnage Report for August 2002 (in tonnes)

Tonnes August-02 Cumulative (Jan to Aug-02)
     
Import 52,940 416,897
     
Growth rate against '01 17.3% 9.7%
     
Export 82,937 616,241
     
Growth rate against '01 27.8% 29.2%
     
Transshipment 21,430 159,090
     
Growth rate against '01 23.0% 14.8%
     
Total 157,307 1,192,228
     
Growth rate against '01 23.4% 19.8%

- end -

Issued by Hong Kong Air Cargo Terminals Limited. For enquiries, please contact:

Cindy Cheung, Corporate Communications Manager Tel : 2753 2162 (office)

Source: SWIRE PACIFIC LTD
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