09:53     HAIER-CCT<01169> - Announcement (2)                                 

    January 2005. The Call Option Exercise has also been completed at the     
    same time.                                                                
                                                                              
    The following table sets out the shareholding information of              
    Haier-CCT at completion of the Asset Injection (before issue of the       
    Conversion Shares and full exercise of the Share Options):                
                                                                              
    Name                 Number of Shares     Approximate  of                 
                         held on completion   total issued Shares             
                         of the Asset                                         
                         Injection (before                                    
                         issue of the                                         
                         Conversion Shares                                    
                         and full exercise                                    
                         of the Share                                         
                         Options)                                             
                                                                              
    Haier Parties        8,219,206,667        50.3                            
    CCT Telecom and its  3,926,774,819        24.0                            
    associates (as                                                            
    defined in the                                                            
    Listing Rules)                                                            
    Public shareholders                                                       
    - Mr Mak Shiu Tong,  30,717,334           0.2                             
    Clement (Note) and                                                        
    his associates (as                                                        
    defined in the                                                            
    Listing                                                                   
    Rules)                                                                    
    - Mr Tam Ngai Hung,  10,000,000           0.1                             
    Terry                                                                     
    (Note)                                                                    
    - Other public       4,147,035,792        25.4                            
    shareholders                                                              
    Subtotal for public  4,187,753,126        25.7                            
    shareholders                                                              
    Total                16,333,734,612       100.0                           
                                                                              
                                                                              
                                                                              
                                                                              
    Note: Both Mr Mak Shiu Tong, Clement and Mr Tam Ngai Hung, Terry          
    resigned as Haier-CCT Directors at completion of the Asset                
    Injection                                                                 
                                                                              
                                                                              
    Appointment and resignation of Haier-CCT Directors                        
    The Haier-CCT Directors are also pleased to announce that following       
    completion of the Asset Injection and with effect from 28 January         
    2005, Ms Yang Mian Mian has been appointed the Chairman and an            
    executive Haier-CCT Director, Mr Song Chun Guang and Mr Cao Chun Hua      
    have been appointed executive Haier-CCT Directors, and Mr Wu Yinong       
    has been appointed an independent non-executive Haier-CCT Director.       
    The biography of and further information of each of the new Haier-CCT     
    Directors are set out below.                                              
                                                                              
    (i)                                                                       
    Ms Yang Mian Mian - the Chairman and an executive Haier-CCT Director      
                                                                              
                                                                              
    Ms Yang Mian Mian, aged 63, graduated from Shandong Industrial            
    Institute (now known as Shandong University) and has had extensive        
    experience in the household electrical appliance industry for more        
    than 20 years. Ms Yang joined Qingdao Refrigerator General Factory        
    (predecessor of the Haier Group) in 1984 and has acted as vice head       
    of the factory and is in charge of the overall management of the          
    Haier Group's white goods business (including the Washing Machine         
    Business) since 1984. Ms Yang is familiar with the raw material           
    procurement and products distribution procedures of the white goods       
    segment. Ms Yang's experience also include serving as general manager     
    of Haier Refrigerator starting from 1993 and serving as the chairman      
    of A Share Company starting from 2001. Currently Ms Yang is the           
    President of Haier Corp.                                                  
                                                                              
    Ms Yang is also a director of Pegasus Qingdao, Pegasus Electronic,        
    Qingdao Haier, Hefei Haier and Shunde Haier. Ms Yang has no               
    relationship with any directors, senior management or substantial or      
    controlling shareholders of Haier-CCT. As at the date of this             
    announcement, Ms Yang does not have any interest in the shares and/or     
    share options of Haier-CCT within the meaning of Part XV of the SFO.      
                                                                              
                                                                              
    The term of office of Ms Yang is 3 years and can be terminated by 3       
    months' notice in writing. Ms Yang is not entitled to any director's      
    emolument but is entitled to payment of discretionary bonus.              
                                                                              
    (ii)                                                                      
    Mr Song Chun Guang - an executive Haier-CCT Director                      
    Mr Song Chun Guang, aged 40, graduated from Tianjin Industrial and        
    Engineering College with a Bachelor's degree of Engineering in 1988.      
    Mr Song has over 15 years of experience in the manufacture of             
    household electrical appliances in the PRC. Mr Song joined Haier Corp     
    in 1995 and has held senior positions in various functions of the         
    washing machine business of the Haier Group during 1995 to 1999,