09:38     HUTCH TELECOM<02332> & HGC HOLDINGS<00757>-Ann. & Resumed-12        

    will be cancelled. Share certificates for the HGCH Shares held            
    by the Scheme Shareholders will thereafter cease to have effect           
    as documents or evidence of title. HGCH will apply to the Stock           
    Exchange for the withdrawal of the listing of the HGCH Shares             
    on the Stock Exchange immediately following the effective date            
    of the Scheme. The Scheme Shareholders will be notified by way            
    of a press announcement of the exact dates on which the Scheme            
    and the withdrawal of the listing of the HGCH Shares on the Stock         
    Exchange will become effective. The Scheme will lapse if it does          
    not become effective on or before 31 October 2005 (or such later          
    date as HTIL and HGCH may agree or as the Supreme Court of Bermuda        
    may direct), and the Scheme Shareholders will be notified by              
    way of a press announcement accordingly. A detailed timetable             
    of the Proposal will be included in the Scheme Document, which            
    will also contain, among other things, further details of the             
    Proposal and the Scheme.                                                  
                                                                              
    The listing of the HGCH Shares will not be withdrawn if the Scheme        
    is not approved or lapses.                                                
                                                                              
    OVERSEAS HGCH SHAREHOLDERS                                                
                                                                              
    The making of the Proposal to and acceptance of the Proposal              
    by persons not resident in Hong Kong may be subject to the laws           
    of the relevant jurisdictions. Such persons should inform                 
    themselves about and observe any applicable legal or regulatory           
    requirements. It is the responsibility of any overseas HGCH               
    Shareholders wishing to accept the Proposal to satisfy                    
    themselves as to the full observance of the laws of the relevant          
    jurisdiction in connection therewith, including the obtaining             
    of any governmental, exchange control or other consents which             
    may be required, or the compliance with other necessary                   
    formalities and the payment of any issue, transfer or other taxes         
    due in such jurisdiction.                                                 
                                                                              
    GENERAL                                                                   
                                                                              
    As at the Announcement Date, HTIL and its subsidiaries were               
    collectively interested in 3,626,888,793 HGCH Shares,                     
    representing approximately 52.53% of the entire issued share              
    capital of HGCH or 6,960,222,126 HGCH Shares representing                 
    approximately 67.99% of the entire issued share capital of HGCH           
    as enlarged by the full conversion of the HTI(C) Convertible              
    Bond. Such HGCH Shares will not be voted at the Court Meeting.            
    The aggregate shareholding percentages of the HTIL Group and              
    parties acting in concert with them in HGCH and their dealings            
    for value in the HGCH Shares (if any) during the six month period         
    up to and including the Announcement Date will be disclosed in            
    the Scheme Document.                                                      
                                                                              
    In the event the DoCoMo's Option is exercised pursuant to its             
    terms such that HWL is required to acquire all the 187,966,653            
    HTIL Shares beneficially held by DoCoMo during the offer period           
    of the Proposal, HWL has informed HTIL that HWL will issue a              
    press announcement disclosing the same and will, if necessary,            
    apply for a waiver from the strict compliance with the                    
    restriction under Rule 21.3 of the Takeovers Code as a result             
    of HWL having to discharge any pre-existing obligation to make            
    such acquisition.                                                         
                                                                              
    Mr. Fok Kin-ning, Canning, the Chairman and a Non-Executive               
    Director of HTIL and the Chairman and an Executive Director of            
    HGCH, and therefore a person presumed to be a party acting in             
    concert with HTIL, is beneficially interested in 10,000,000 HGCH          
    Shares, representing about 0.14% of HGCH's current issued share           
    capital. Mr. Fok has unconditionally and irrevocably agreed that          
    he will procure a donation to an independent charitable                   
    organisation of either the Cancellation Consideration to be               
    derived from such HGCH Shares if the