10:57     PCCW<00008> - Announcement (2)                                      

    Provision for                                                             
    impairment of                                                             
    goodwill                                                                  
    attributable                                                              
    to                                                                        
    - subsidiaries  (13,224)        (6)             178                       
    - investments   -               (203)           1,809                     
    equity                                                                    
    accounted for                                                             
    Amortization    63              82              85                        
    of                                                                        
    goodwill                                                                  
    Provision for   (3,389)         -               (4,703)                   
    impairment of                                                             
    intangible                                                                
    assets                                                                    
    Amortization    (283)           (283)           (283)                     
    of intangible                                                             
    assets                                                                    
    Mark-to-market  (397)           (641)           1,324                     
    of marketable                                                             
    equity                                                                    
    securities and                                                            
    derivative                                                                
    instruments                                                               
    Employee stock  (9)             (69)            (193)                     
    option                                                                    
    schemes                                                                   
    Depreciation    (191)           (291)           (279)                     
    of investment                                                             
    properties                                                                
    Deferral of     (111)           (131)           (138)                     
    up-front                                                                  
    fees                                                                      
    Expenses        (42)            (53)            (67)                      
    relating to                                                               
    non-employee                                                              
    stock                                                                     
    options                                                                   
    Provision for   (53)            41              (534)                     
    onerous                                                                   
    contracts                                                                 
    Deferred taxes  707             101             716                       
    arising from                                                              
    other GAAP                                                                
    differences                                                               
    Retirement      (214)           (57)            (369)                     
    scheme                                                                    
    costs                                                                     
    Loss on         -               -               1,771                     
    disposal of                                                               
    interest in                                                               
    RWC                                                                       
    Equity pick up  (136)           -               -                         
    of results of                                                             
    Reach                                                                     
    Others          (26)            51              (23)                      
    Loss for the    (15,667)        (7,559)         (8,468)                   
    year before                                                               
    cumulative                                                                
    effect of a                                                               
    change in                                                                 
    accounting                                                                
    principle                                                                 
    Cumulative      -               -               (43,589)                  
    effect of a                                                               
    change in                                                                 
    accounting                                                                
    principle, net                                                            
    of                                                                        
    tax                                                                       
    Net loss        (15,667)        (7,559)         (52,057)                  
                                                                              
                                                                              
                                                    Year ended                
                                                    December 31,              
                    2004            2003            2002                      
                    HK$             HK$             HK$                       
                                                                              
    Loss per Share                                                            
    under US                                                                  
    GAAP                                                                      
    Basic                                                                     
    Loss for the    (291.75) cents  (152.18) cents  (182.22) cents            
    year before                                                               
    cumulative                                                                
    effect of a                                                               
    change in                                                                 
    accounting                                                                
    principle                                                                 
    Net loss        (291.75) cents  (152.18) cents  (1,120.19)                
                                                    cents                     
    Diluted                                                                   
    Loss for the    (291.75) cents  (152.18) cents  (182.22) cents