09:56     CCT TELECOM<00138>&CCT TECH INT'L<00261> - J.Ann.&Resume(1)         

    The Stock Exchange of Hong Kong Limited takes no responsibility           
    for the contents of this announcement, makes no representation as         
    to its accuracy or completeness and expressly disclaims any               
    liability whatsoever for any loss howsoever arising from or in            
    reliance upon the whole or any part of the contents of this               
    announcement.                                                             
                                                                              
    This announcement appears for information purposes only and does          
    not constitute an invitation or offer to acquire, purchase or             
    subscribe for securities of CCT Telecom Holdings Limited and CCT          
    Tech International Limited.                                               
                                                                              
    CCT TELECOM HOLDINGS LIMIED                                               
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 138)                                                         
                                                                              
    CCT TECH INTERNATIONAL LIMIED                                             
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 261)                                                         
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    Voluntary Conditional Cash Offer (with a Securities Exchange              
    Alternative) by                                                           
    DBS Asia Capital Limited                                                  
    on behalf of Jade Assets Company Limited, a wholly-owned                  
    subsidiary of                                                             
    CCT Telecom Holdings Limited, to acquire all the issued                   
    shares and the convertible notes due 2005 of                              
    CCT TECH INTERNATIONAL LIMITED                                            
    (other than those already owned by the Offeror and parties acting         
    in concert with it (other than New Capital Industrial Limited))           
    and Voluntary Conditional Cash Offer to cancel all outstanding            
    options of CCT TECH INTERNATIONAL LIMITED                                 
    (other than those already owned by the Offeror and parties acting         
    in concert with it)                                                       
    and                                                                       
    Major and Connected Transaction of CCT Telecom Holdings Limited           
                                                                              
    The Offers                                                                
                                                                              
    CCT Telecom announced that DBS Asia, on behalf of the Offeror,            
    subject to the conditions as set out in the paragraph headed              
    ``Conditions of the Offers'' below, will make a voluntary                 
    conditional cash offer (with a securities exchange alternative)           
    to acquire all the issued CCT Tech Shares and the CCT Tech 2005           
    CN (other than those already owned by the Offeror and parties             
    acting in concert with it (other than New Capital)) and a voluntary       
    conditional cash offer to cancel all the outstanding CCT Tech             
    Options. The principal terms of the Offers are set out in the             
    paragraph headed ``The Offers'' below. DBS Asia is satisfied that         
    there are sufficient financial resources available to CCT Telecom         
    to satisfy the amount of funds required to meet full acceptance           
    of the Offers.                                                            
                                                                              
    CCT Telecom currently holds 5,500,000,000 CCT Tech Shares through         
    its indirect wholly-owned subsidiaries, representing                      
    approximately 34.51% in the issued share capital of CCT Tech. CCT         
    Telecom also holds the CCT Tech 2008 CN in the principal amount           
    of HK$615 million through its wholly-owned subsidiary, Noble Team         
    Investments Limited, the full conversion of which would result in         
    the issue of 43,928,571,428 CCT Tech Shares, representing                 
    approximately 275.61% of the existing issued capital of CCT Tech          
    and approximately 73.38% of the issued capital of CCT Tech as             
    enlarged thereby.                                                         
                                                                              
    Compulsory Acquisition                                                    
                                                                              
    If acceptances are received for 90% or more in value of the CCT           
    Tech Shares in issue, CCT Telecom may avail itself of the                 
    compulsory acquisition provisions under the Companies Act to              
    acquire the outstanding CCT Tech Shares not owned by it and parties       
    acting in concert with it.