10:04     CCT TELECOM<00138>&CCT TECH INT'L<00261> - J.Ann.&Resume(15)        

    ``New Capital''   New Capital Industrial Limited, a company               
    wholly-owned by Mr. Mak Shiu Tong, Clement, the Chairman and an           
    executive director of both CCT Telecom and CCT Tech, and his family       
    members                                                                   
                                                                              
    ``ODM''   original design manufacturing                                   
                                                                              
    ``OEM''   original equipment manufacturing                                
                                                                              
    ``Offers''   the Cash Offer with Securities Exchange Alternative          
    and the Option Offer                                                      
                                                                              
    ``Offer Document''   the document to be issued by or on behalf of         
    the Offeror to all CCT Tech Shareholders, the holder of the CCT           
    Tech 2005 CN and the CCT Tech Optionholders in accordance with the        
    Takeovers Code containing, inter alia, details of the Offers, the         
    acceptance and transfer forms, and the terms and conditions of the        
    Offers or, where applicable, the composite document to be issued          
    by or on behalf of the Offeror and CCT Tech                               
                                                                              
    ``Offeror''   Jade Assets Company Limited, an indirect                    
    wholly-owned subsidiary of CCT Telecom                                    
                                                                              
    ``Option Offer''   the conditional cash offer for the CCT Tech            
    Options                                                                   
                                                                              
    ``Option Offer Price''   HK$0.009 per CCT Tech Option                     
                                                                              
    ``PRC''   the People's Republic of China                                  
                                                                              
    ``SFC''   the Securities and Futures Commission of Hong Kong              
                                                                              
    ``SFO''   the Securities and Futures Ordinance (Chapter 571 of the        
    Laws of Hong Kong)                                                        
                                                                              
    ``Stock Exchange''   The Stock Exchange of Hong Kong Limited              
                                                                              
    ``Takeovers Code''   the Hong Kong Code on Takeovers and Mergers          
                                                                              
    The directors of CCT Telecom jointly and severally accept full            
    responsibility for the accuracy of the information (other than            
    that in respect of the CCT Tech Group) in this announcement and           
    confirm, having made all reasonable enquiries, that to the best           
    of their knowledge, opinions expressed in this announcement have          
    been arrived at after due and careful consideration and there are         
    no other facts not contained in this announcement the omission of         
    which would make any statement in this announcement misleading.           
                                                                              
    The directors of CCT Tech jointly and severally accept full               
    responsibility for the accuracy of the information (other than            
    that in respect of the CCT Telecom Group and the Offeror) in this         
    announcement and confirm, having made all reasonable enquiries,           
    that to the best of their knowledge, opinions expressed in this           
    announcement have been arrived at after due and careful                   
    consideration and there are no other facts not contained in this          
    announcement the omission of which would make any statement in this       
    announcement misleading.                                                  
                                                                              
    As at the date of this announcement, the executive directors of           
    CCT Telecom are Mr. Mak Shiu Tong, Clement, Mr. Tam Ngai Hung, Terry,     
    Ms. Cheng Yuk Ching, Flora and Dr. William Donald Putt and the            
    independent non-executive directors of CCT Telecom are Mr. Samuel         
    Olenick, Mr. Tam King Ching, Kenny and Mr. Lau Ho Man, Edward.            
                                                                              
    As at the date of this announcement, the executive directors of           
    CCT Tech are Mr. Mak Shiu Tong, Clement, Mr. Tam Ngai Hung, Terry,        
    Ms. Cheng Yuk Ching, Flora, Mr. Tong Chi Hoi and Dr. William Donald       
    Putt and the independent non-executive directors of CCT Tech are          
    Mr. Chow Siu Ngor, Mr. Lau Ho Kit, Ivan and Mr. Chen Li.                  
                                                                              
    By Order of the Board of   By Order of the Board of                       
    CCT TELECOM HOLDINGS LIMITED   CCT TECH INTERNATIONAL LIMITED             
    Mak Shiu Tong, Clement   Tam Ngai Hung, Terry                             
    Chairman   Director                                                       
                                                                              
    Hong Kong, 31 January 2005