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Hutchison sees US telecom operations grow

27 February 2000

Hutchison Whampoa Limited ("Hutchison") announced today that VoiceStream Wireless Corporation of the United States ("VoiceStream") has completed the merger with Omnipoint Corporation and Hutchison simultaneously completed its previously announced further investment of US$957 million (approximately HK$7,445 million) in VoiceStream to support the merger. As a result, Hutchison's interest in VoiceStream has increased and would approximate 29% on the exercise of certain conversion rights.

Separately, VoiceStream is in the process of completing a previously announced merger with Aerial Communications, Inc. which is expected to take place in April this year. Upon completion of the Aerial merger, it is estimated that VoiceStream would have a total market capitalisation of approximately US$35 billion (HK$272 billion) on a fully diluted basis and Hutchison would hold an approximate 23% interest (estimated value of approximately US$8 billion or HK$62 billion) in the merged entity after the exercise of certain conversion rights. The merged entity would be the largest GSM wireless telecommunication network operator in the United States, covering a population of approximately 210 million people in 23 of the 25 largest markets.

A spokesman of Hutchison said," he Omnipoint merger represents another milestone in the global expansion of Hutchison's telecommunications business. We greatly look forward to the completion of the Aerial transaction and Hutchison's participation as VoiceStream's largest shareholder in one of the most exciting growth opportunities in the world today for digital mobile communications."

About VoiceStream
VoicesStream Wireless Corp., based in Bellevue, Wash., is a leading provider of wireless communications services in the United States using the GSM technology platform. VoiceStream is a member of the North American GSM Alliance LLC, a group of U.S. and Canadian digital wireless PCS carriers. The GSM Alliance helps provide GSM wireless communications for their customers in more than 4,000 U.S. and Canadian cities and towns as well as international service. For more information, go to www.voicestream.com.

About Omnipoint
Founded in 1987, Omnipoint is a leader in commercializing PCS. Omnipoint currently provides advanced wireless communications services in the eastern United States, including New York, Philadelphia, Boston, Miami, plus midwest markets including Detroit and Indianapolis. Omnipoint Technologies, Inc. is a leading developer and supplier or wireless communication technologies, products and engineering services.

About Aerial
Aerial Communications, headquartered in Chicago, provides PCS services using GSM technology in licensed areas that comprise 27.5 million of the US population. Aerial's markets include Columbus, Ohio, Houston, Minneapolis, Kansa City, Pittsburgh and Tampa/Orlando/St Petersburg. Through its roaming partners, Aerial offers coverage coast-to-coast throughout the US as well as international roaming with more than 40 wireless partners.

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For more information, please contact:

Press Contact:
Hutchison Whampoa Limited

Laura Cheung

Tel: (852) 2128 1235 / (852) 7318 4778