10:09 CCT TELECOM<00138> & CCT TECH INT'L<00261> - J. Ann. (3) Further announcement will be made as and when necessary. EXTENSION OF THE CLOSING DATE OF THE OFFERS Pursuant to Rule 15.3 of the Takeovers Code, where the Offers have become or are declared unconditional in all respects, they should remain open for acceptance for not less than 14 days thereafter. Accordingly, the Closing Date will be extended to Friday, 6 May 2005 (or any subsequent date(s) as may be announced by the Offeror and approved by the Executive) and the latest time and date for acceptance of the Offers will be at 4:00 p.m. on Friday, 6 May 2005. All other terms of the Offers, as set out in the Composite Offer Document and in the Forms of Acceptance, remain unchanged and apply to the extended Offers. Reference is made to the joint announcement dated 31 January 2005 (``Joint Announcement''), the composite offer and response document dated 31 March 2005 (``Composite Offer Document'') and the announcement dated 18 April 2005 jointly issued by CCT Telecom and CCT Tech. Terms defined in the Composite Offer Document shall have the same meanings when used herein, unless otherwise stated. ACCEPTANCE LEVEL OF THE OFFERS As at 4:00 p.m. on 21 April 2005, valid acceptances have been received in respect of 7,617,603,244 CCT Tech Shares (representing approximately 47.79% of the entire issued share capital of CCT Tech as at the date of this announcement) under the Cash Offer with Securities Exchange Alternative. Among the abovementioned 7,617,603,244 CCT Tech Shares of which valid acceptances have been received, 5,369,363,244 CCT Tech Shares were accepted in the form of cash and 2,248,240,000 CCT Tech Shares were accepted in the form of the Convertible Bonds. Pursuant to an irrevocable undertaking provided by New Capital, the registered holder of the CCT Tech 2005 CN, New Capital has accepted the Cash Offer with Securities Exchange Alternative in the form of the Convertible Bonds in respect of its entire holding of the CCT Tech 2005 CN with an outstanding principal amount of HK$45,000,000, representing all the outstanding issued CCT Tech 2005 CN. The full conversion of the CCT Tech 2005 CN would result in the issue of 4,500,000,000 CCT Tech Shares, representing approximately 28.23% of the issued capital of CCT Tech as at the date of this announcement and approximately 22.02% of the issued capital of CCT Tech as enlarged thereby. As at 4:00 p.m. on 21 April 2005, valid acceptances have been received in respect of 1,082,781,000 CCT Tech Options (representing all the outstanding issued CCT Tech Options as at the date of this announcement) under the Option Offer. As a result, all the CCT Tech Options will be cancelled in accordance with the terms of the Offers. As at the date of the Joint Announcement, (i) the Offeror held 1,800,000,000 CCT Tech Shares, representing approximately 11.29% of the issued share capital of CCT Tech; (ii) the Offeror, together with CCT Telecom and parties acting in concert with it, held an aggregate of 5,500,000,000 CCT Tech Shares, representing approximately 34.51% of the issued share capital of CCT Tech; (iii) CCT Telecom held 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 issued capital of CCT Tech as at the date of this announcement and approximately 73.38% of the issued capital of CCT Tech as enlarged thereby; (iv) New Capital, a company wholly owned by Mr. Mak Shiu Tong, Clement (a party presumed to be acting in concert with the Offeror) and his family members, held the CCT Tech 2005 CN in the principal amount of HK$45 million, the full conversion of which would result in the issue of 4,500,000,000 CCT Tech Shares, representing approximately 28.23% of the issued capital of CCT Tech as at the date of this announcement and approximately 22.02% of the issued capital of CCT Tech as enlarged thereby; (v) save as disclosed in points (i), (ii), (iii) and (iv) above, the Offeror, CCT Telecom and parties acting in concert with it did not own, control or direct any CCT Tech Shares, any CCT Tech Options or any other convertible securities, warrants, options or derivatives in respect of the CCT Tech Shares; and (vi) there was no arrangement (whether by way of option, indemnity or otherwise) in relation to the shares of the Offeror, the CCT Telecom Shares and the CCT Tech Shares which might be material to the Offers.