NEWS RELEASE

July 03, 2000

The SEHK Options Clearing House Limited (SEOCH) will adjust open positions in China Mobile (Hong Kong) Limited options contracts (CHT options contracts) in response to the announcement made by China Mobile (Hong Kong) Limited regarding the reduction in board lot size from 2,000 shares to 500 shares with effect from 7 August 2000.

SEOCH will convert all open positions in CHT options contracts as of the close of business on 4 August 2000 by the multiplication factor four, which means one CHT options contract as of the close of business on 4 August 2000 will become four CHT options contracts. From 7 August 2000, CHT options contract size will be 500 shares, which represents one new board lot of the underlying share in the cash market.

To reflect the change of company name announced by China Mobile (Hong Kong) Limited (formerly known as China Telecom (Hong Kong) Limited), SEOCH has changed the name of the China Telecom (Hong Kong) Limited Options Contract to China Mobile (Hong Kong) Limited Options Contract with effect from 30 June 2000, its class code, CHT, remains unchanged; and Hong Kong Futures Exchange has changed the name of China Telecom (Hong Kong) Limited Futures Contract to China Mobile (Hong Kong) Limited Futures Contract with effect from the same date.

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