22-Oct-2004

[22 October 2004 – Hong Kong] – Hutchison Port Holdings (HPH) is pleased to announce that it has entered into agreements to acquire a majority stake in Wolny Obszar Gospodarczy (WOG), a general cargo terminal in the Port of Gdynia, Poland, with a plan to develop it into a container terminal.

Commenting on the investment, John Meredith, Group Managing Director of HPH said, “We expect healthy growth in the Baltic region and Eastern European countries. Poland has reported double-digit container growth for the last few years. With the benefits of Poland’s recent accession to the European Union we believe this healthy growth rate will continue. We are confident that WOG will strengthen HPH’s port network in Europe with additional services to enhance the level of service offered by Felixstowe, Thamesport and Rotterdam.”

In terms of facilities, WOG has a waterfront of 550 metres with a depth alongside of 10.5 metres.

The Port of Gdynia is located on the Southern coast of the Baltic Sea where 90% of Polish sea-borne containerized cargo is handled.