09:10     HUTCH TELECOM<02332> - Announcement (3)                             

    "Credit Agreement"      the credit agreement dated 20 May 2005 and        
    made between the Company and the SBLC issuer in relation to a             
    US$22.5 million (approximately HK$175.5 million) standby letter           
    of credit facility                                                        
                                                                              
    "Directors"     directors of the Company                                  
                                                                              
    "Extended Term  the Original Term Loan Facility as reduced to             
      Loan Facility"        a principal amount of INR875 million              
    (approximately HK$156 million) and its repayment extended to              
    18 May 2006 pursuant to an agreement dated 25 May 2005 and made           
    between the Lender and JKF                                                
                                                                              
    "Hong Kong"     the Hong Kong Special Administrative Region of the        
    People's Republic of China                                                
                                                                              
    "Group" the Company and its subsidiaries                                  
                                                                              
    "HWL"   Hutchison Whampoa Limited, a company whose shares are             
    listed on the Main Board of the Stock Exchange and the controlling        
    shareholder of the Company                                                
                                                                              
    "HWL Group"     HWL and its subsidiaries (excluding, for the              
    purpose of this Announcement, the Company and its subsidiaries)           
                                                                              
    "HWL Guarantee" the guarantee dated 18 July 2001 issued by HWL,           
    in favour of the Lender in respect of the Original Term Loan              
    Facility                                                                  
                                                                              
    "JKF"   JayKay Finholding (India) Private Limited, an indirect            
    non wholly owned subsidiary of the Company and a connected person         
    of the Company by virtue of it being an associate of the Kotak            
    Mahindra Group                                                            
                                                                              
    "Kotak Mahindra Kotak Mahindra Capital Co., a company                     
      Group"        incorporated in India, and its subsidiaries               
                                                                              
    "Lender"        the lender under the Original Term Loan Facility and      
    the Extended Term Loan Facility, an independent financial                 
    institution                                                               
                                                                              
    "Listing Rules" Rules Governing the Listing of Securities on the          
    Main Board of the Stock Exchange                                          
                                                                              
    "Original Term  the term loan facility in the principal amount            
      Loan Facility"        of INR920 million (approximately HK$164           
    million) provided by the Lender to JKF pursuant to an agreement           
    dated 17 July 2001 and made between the Lender and JKF                    
                                                                              
    "SBLC"  a standby letter of credit in the amount of US$22.5 million       
    (approximately HK$175.5 million) issued by the SBLC Issuer on             
    20 May 2005 and which will expire on 19 May 2006                          
                                                                              
    "SBLC Issuer"   the issuer of the SBLC, an independent financial          
    institution                                                               
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong Limited           
                                                                              
    "subsidiary"    has the meaning ascribed to it in Listing Rule 1.01       
                                                                              
    "HK$"   Hong Kong Dollars, the lawful currency of Hong Kong               
                                                                              
    "INR"   Indian Rupee, the lawful currency of India                        
                                                                              
    "US$"   United States Dollars, the lawful currency of the United          
    States of America                                                         
                                                                              
    For the purpose of this announcement and for reference                    
    only, exchange rates of HK$7.8 to US$1.00 and HK$1.00 to INR5.60          
    are adopted.                                                              
                                                                              
    By Order of the Board                                                     
                                                                              
    Edith Shih                                                                
    Company Secretary                                                         
                                                                              
    Hong Kong, 26 May 2005