09:21     Trading Resumption of Derivative Warrants re: PCCW<00008>           

    Trading in the shares of PCCW Limited (the "Company") will be resumed at  
    9:30am today (21/1/2005).  For the details, please refer to the press     
    announcement today.                                                       
                                                                              
    Accordingly, the following derivative warrants relating to the Company wil
                                                                              
    Stock Code              Stock Short Name                                  
    ----------              ----------------                                  
    02199                   DB-PCCWL@EC0501                                   
    03703                   SG-PCCWL@EC0506                                   
    03708                   FB-PCCWL@EC0510                                   
    03714                   DB-PCCWL@EC0507                                   
    04477                   SG-PCCWL@EC0503                                   
    04560                   FB-PCCWL@EC0506                                   
    04664                   MBPCCWL@EC0506B                                   
    09010                   KC-PCCWL@XC0504                                   
    09113                   MBPCCWL@XC0506A                                   
    09175                   CSPCCWL@XC0503A                                   
    09333                   CSPCCWL@XC0503B                                   
    09337                   CS-PCCWL@XP0503                                   
    09514                   KC-PCCWL@XC0507                                   
    09755                   KC-PCCWL@XC0510