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Hutchison-Priceline, Hertz® announce Asian strategic alliance

HONG KONG, November 25, 2002 - Hutchison-Priceline (Travel) Ltd and Hertz today announced an Asian alliance that will give Priceline's customers in Asia access to Hertz rental vehicles worldwide at discounted rates.

Under the agreement, travellers from all over Asia who visit or will be able to book their rental cars through the Priceline websites. The companies said they expect the service to be launched by early next year.

Hertz will offer exclusive discounts to and travellers, plus destination-specific deals with extra bonuses throughout the year. "With our year-round 20%-30% savings on airline tickets and hotel rooms, plus these discounted Hertz rates, it adds up to a lot of money saved for our customers," said Hutchison-Priceline Chief Executive Officer Alfredo Gangotena.

Commenting on the new Hutchison-Priceline/Hertz partnership, Hertz Managing Director for Asia and Japan Mr Wong Soon Hwa said: "With our shared commitment to providing the best customer service as well as delivering a quality product, we are confident that our partnership will offer excellent value to our mutual customers.

"Hertz offers peace of mind - ours is one of the most trusted names in the industry. And with our extensive global network, Hutchison-Priceline travellers can pick up a Hertz car practically anywhere around the world. That's the kind of convenience people need when they are travelling overseas."

The most popular destinations for Hong Kong travellers who book Hertz rental cars currently include the United States, the United Kingdom, France, Australia and New Zealand.

Hutchison-Priceline, which recently announced a 48-hour hotel booking service, is currently offering free hotel nights and Samsonite suitcases worth up to HK$2,000 with the purchase of air tickets that cost as little as $1,000.

The company also has added another major airlines to its list of world-class regional and international partners, greatly enhancing opportunities for travellers to obtain the travel savings they seek. Hutchison-Priceline, which launched in Hong Kong in April 2002 with 25 major airline partners, now has 34 partners, plus more than 9,000 hotel properties in the USA, Canada, Europe, Asia-Pacific, Central America, Mexico and the Caribbean.

About Hertz

Hertz is the world's largest and longest established vehicle rental company with annual fleet purchases of at least 550,000 vehicles operating in approximately 150 countries in over 7,000 locations worldwide. Hertz offers a wide variety of current-model cars on a short-term rental basis - daily, weekly or monthly - at airports, in downtown and suburban business centers, and in residential areas and resort locales.

Today, Hertz' Worldwide Reservations Centers handle approximately 40 million phone calls and delivers approximately 30 million reservations annually.

About Hutchison-Priceline

Hutchison-Priceline (Travel) Ltd was formed with investments from Hutchison Whampoa Ltd (65%) in Hong Kong and Inc (35%) in the United States. Hutchison brings to the alliance its unparalleled brand, huge customer pool, vast management experience and deep knowledge of Asia. also boasts an extremely strong brand. It adds unique technology to the mix, plus outstanding e-commerce experience.

Hutchison-Priceline (Travel) Ltd operates a unique Name Your Own PriceTM Internet travel service for airline tickets and hotel rooms. It offers great savings for flexible travellers. For airline tickets customers choose their destination, dates of travel and desired price, then agree to fly on a major airline at the times when the airline has empty seats. For hotel rooms customers specify their dates, the star rating, the area of a city and, of course, the price. Priceline then picks an international-brand or boutique hotel.

Hutchison-Priceline (Travel) Ltd works with one of the travel industry's largest collections of travel suppliers. These include 34 Asian and international airlines and about 9,000 hotel properties around the world.

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