Stock Exchange Of Hong Kong: The Release Of News On The Teletext Regarding Pacific Century Group's Disposal Of Shares In Pacific Century Cyberworks

The Stock Exchange of Hong Kong makes the following information available to clarify a report in a newspaper today (Thursday) concerning the release of the news regarding Pacific Century Group Holdings Limited's disposal of shares in Pacific Century CyberWorks Limited (PCCW) on the Teletext on 9 August 2000.

Chronological events on 9 August 2000:

9:35am: PCCW's announcement arrived at the Exchange via fax, with a request to the Exchange for its release through the Exchange's Teletext system on 9 August 2000.

9:45 am: The Exchange decided that the announcement could be released subject to the Securities and Futures Commission's clearance.

9:47 am: The Exchange informed PCCW of the decision and advised PCCW to contact the SFC.

10:27 am: PCCW's amended announcement incorporating the SFC's comment was e-mailed to and received by the Exchange.

10:30 am: The Exchange obtained confirmation from the SFC of its clearance for the issue of the announcement.

10:31 am: The Exchange released the news on the Teletext system.