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PRESS RELEASE

Hutchison 3G completes 3.6 billion financing
Funding guaranteed for three years

Hong Kong, London, 2 April 2001, Hutchison 3G UK Limited ('Hutchison 3G'), today announced the successful completion of a 3.6 billion financing package, raised from a combination of bank, vendor finance and shareholder sources (the final net committed aggregate amount is approximately 3.2 billion after partial reduction of the senior commitments in accordance with the agreed terms of the Senior Credit Facility reflecting the successful raising of 777 million from Hutchison 3G's main equipment suppliers, Nokia, NEC and Siemens). Hutchison Whampoa Limited ('HWL') has committed 375 million to the total package. The Senior Credit Facility, vendor finance facilities and the HWL facility were signed by participating institutions on Friday 30 March 2001.

The Senior Credit Facility was arranged and underwritten by a group of institutions with an extensive presence in the European and Asian markets and included, ABN AMRO, Citibank, HSBC, JP Morgan, Merrill Lynch, Royal Bank of Scotland and WestLB (the 'Lead Arrangers'). The Lead Arrangers were subsequently joined by nine other institutions including Agricultural Bank of China, BCI, China Construction Bank and Standard Chartered (the 'Arrangers'), Credit Agricole, Goldman Sachs and Mizuho (the 'Co-Arrangers') and Sumitomo and CITIC Ka Wah (the 'Managers').

Under the separate vendor facilities, Nokia, NEC and Siemens have committed 777 million of financial support for Hutchison 3G's roll-out of a national network, for which they are supplying the equipment. The vendor finance facilities have pari passu ranking with the Senior Credit Facility.

Colin Tucker, Managing Director of Hutchison 3G said "We are very pleased with the successful and timely completion of our debut financing, especially given the current market conditions. It clearly demonstrates the strong commitment of the shareholders, the Lead Arrangers, participating banks and vendors, to this exciting new technology, which will redefine the wireless information environment. Hutchison 3G is now fully funded beyond the launch of its services and has the commitment of a group of banks who are clearly leading the understanding of the 3G proposition among the financial institutions. With support of shareholders and our principal equipment vendors, Nokia, NEC and Siemens, I believe we have established a solid financial platform from which Hutchison 3G can exploit the huge 3G market opportunity."

The Senior Credit Facility maturity is three years with a 12 month extension option. Facility margins are set at levels of 175bps for the first year, rising to 200bps for years two and three before rising further to 225bps if the facility is extended into the fourth year. A commitment fee of 62.5bps will be paid on the undrawn amount of the facility. In addition, a 10bps extension fee will be paid if the facility is extended.

In a separate press release today, Hutchison 3G announced the selection of the infrastructure suppliers for the roll-out of it's 3G Network in the UK.

For further information please contact:

Nora YongHutchison Whampoa Ltd+852 2128 1363
Edward BrewsterHutchison 3G UK+44 20 7887 7869

Notes to Editors

Hutchison 3G UK

Hutchison 3G UK Holdings Limited ('Hutchison 3G') holds license 'A', from the UMTS auction held by the UK government in April 2000. Licence 'A' was the largest block of spectrum auctioned in the UK, it was set aside for a new entrant to the market. The licence consists of 15mhz of paired spectrum, and 5mhz of unpaired spectrum.

3G is a convergence of mobile, telephony and information systems which promises to change people's lives by enabling them to access information when, where and how they want. The 3G standard (agreed throughout Europe, Japan, China, and the rest of Asia) also known as UMTS (Universal Mobile Telecommunications System), represents a global standard for third generation mobile communication systems and is at the heart of the Hutchison 3G initiative.

Hutchison Whampoa Limited holds a 65% stake in Hutchison 3G, the other major shareholders are NTT DoCoMo (20%) KPN Mobile (15%). www.hutchison3g.com