10:42     CCT TELECOM<00138> & CCT TECH INT'L<00261> - J. Ann. (2)            

    Legal titles of the CCT Tech 2005 CN in the amount of HK$45,000,000       
    were duly transferred to the Offeror and all the outstanding issued       
    1,082,781,000 CCT Tech Options were cancelled in accordance with          
    the terms of the Offers on 25 April 2005.                                 
                                                                              
    SHAREHOLDING AND DEALINGS BY THE OFFEROR AND PARTIES ACTING IN            
    CONCERT WITH IT DURING THE OFFER PERIOD                                   
                                                                              
    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 them, 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$615,000,000 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 share capital of CCT Tech as          
    at the date of this announcement and approximately 73.38% of the          
    issued share 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$45,000,000, 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 share capital of CCT Tech as at the date of          
    this announcement and approximately 22.02% of the issued share            
    capital of CCT Tech as enlarged thereby.                                  
                                                                              
    Save for the valid acceptances and transfer of 7,907,179,696 CCT          
    Tech Shares and the CCT Tech 2005 CN in the amount of HK$45,000,000       
    to the Offeror and the valid acceptances and cancellation of the          
    CCT Tech Options pursuant to the terms of the Offers, the Offeror,        
    CCT Telecom and parties acting in concert with them have not dealt        
    in any CCT Tech Shares, any CCT Tech Options or any other convertible     
    securities, warrants, options or derivatives in respect of the CCT        
    Tech Shares throughout the period between the date of the Joint           
    Announcement up to the date of this announcement.                         
                                                                              
    As at the date of this announcement, (a) the Offeror held                 
    9,441,710,244 CCT Tech Shares (representing approximately 59.24%          
    of the issued share capital of CCT Tech) and the CCT Tech 2005 CN         
    in the principal amount of HK$45,000,000 (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 share capital of          
    CCT Tech as at the date of this announcement and approximately            
    22.02% of the issued share capital of CCT Tech as enlarged thereby);      
    (b) the Offeror, together with CCT Telecom and parties acting in          
    concert with them, held an aggregate of 13,141,710,244 CCT Tech           
    Shares, representing approximately 82.45% of the issued share             
    capital of CCT Tech; (c) CCT Telecom held the CCT Tech 2008 CN in         
    the principal amount of HK$615,000,000 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 share capital of         
    CCT Tech as at the date of this announcement and approximately            
    73.38% of the issued share capital of CCT Tech as enlarged thereby;       
    (d) save as disclosed in points (a), (b) and (c) above, the Offeror,      
    CCT Telecom and parties acting in concert with them 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 (e) 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.                             
                                                                              
    After taking into account the valid acceptances of 7,907,179,696          
    CCT Tech Shares received up to 4:00 p.m. on 6 May 2005 including          
    valid acceptances of 265,469,452 CCT Tech Shares, legal titles of         
    which will be transferred to the Offeror on 12 May 2005, the Offeror,     
    CCT Telecom and parties acting in concert with them together will         
    own 13,407,179,696 CCT Tech Shares (representing approximately            
    84.12% of the entire issued share capital of CCT Tech as at the date      
    of this announcement), the CCT Tech 2005 CN and the CCT Tech 2008         
    CN as at the date of this announcement.                                   
                                                                              
    PUBLIC FLOAT                                                              
                                                                              
    Upon completion of the transfers of legal titles to the Offeror in        
    respect of 7,907,179,696 CCT Tech Shares accepted under the Offers,       
    the Offeror, CCT Telecom and parties acting in concert with them          
    will be interested in an aggregate of 13,407,179,696 CCT Tech Shares,     
    representing approximately 84.12% of the issued share capital of          
    CCT Tech and only approximately 15.88% interest in CCT Tech will          
    be held by the public.