23-May-2000

[Hong Kong – 23 May, 2000] HSBC Investment Bank Asia Limited and Citicorp International Limited jointly announce the signing of a HK$5,000,000,000 Term Loan Facility for Hongkong International Terminals Limited (“HIT”) in Hong Kong today. The fully-underwritten Facility has a 5-Year tenor, which was arranged jointly by HSBC Investment Bank Asia Limited and Citicorp International Limited.

HIT is the largest container port operator in Hong Kong. The company operates 10 berths and accounts for over 50% of the container throughput handled at Kwai Chung container port in 1999. HIT is a member of the Hutchison Port Holdings Group, the port and related services division of Hutchison Whampoa Limited.

The issue attracted strong responses from sub-underwriters, which led to 1.68 times oversubscription to the Facility, with 17 participating banks joining including the Co-ordinating Arrangers. Despite the overwhelming success during the underwriting phase, HIT has decided not to increase the size of the Facility, as the financing amount is sufficient for its funding requirements.

The Co-ordinating Arrangers and Sub-underwriters are as follows:

Co-ordinating Arrangers –

HSBC Investment Bank Asia Limited

Citicorp International Limited

Lead Arrangers & Lead Managers –

The Hongkong and Shanghai Banking Corporation Limited

Citibank, N.A., Hong Kong Branch

Bank of China, Hong Kong Branch

Bank Brussels Lambert S.A., Hong Kong Branch

The Bank of East Asia, Limited

China Construction Bank, Hong Kong Branch

CIBC World Markets

Commerz (East Asia) Limited

The Fuji Bank, Limited

The Industrial and Commercial Bank of China, Hong Kong Branch

Sanwa International Finance Limited

Standard Chartered Bank

United Overseas Bank Limited

Arrangers & Co-Lead Managers –

The Bank of Tokyo-Mitsubishi, Ltd

Oversea-Chinese Banking Corporation Limited

Rabobank Hong Kong Branch

The Sumitomo Bank, Limited