Mr. John E. Meredith, Group Managing Director of Hutchison Port Holdings (HPH), the world's largest container Port Operator commented on the progress made by the group's investment to date in Indonesia.

"Confidence in the opportunities and potential at Tanjung Priok have grown considersably since privatization. At JICT there has been an increase in the number of liner services of 52%, giving Indonesian importers and exporters an unprecedented choice."

HPH through two subsidiary companies, Ocean East Investment Holdings Ltd. and Ocean Deep Investment Holdings Ltd, has acquired a 48% stake in Koja Terminal 3 (Koja T3). This acquisition has been approved by the Indonesian Government.

Koja T3 situated at Tanjung Priok, has a total land area of 29.3 hectares, a quay length of 450 metres and throughput in 1999 was 394,000 TEU.

HPH to date has invested approximately US$390Million in Tanjung Priok, and current expansion plans call for another US$250Million.

JICT has this week started operations at its brand new deep-water berth equipped with Post Panamax Cranes.

According to Mr. Meredith, the Indonesian Government is in full support of the initiatives taken by HPH to elevate Tanjung Priok to Hub Port status for Indonesia.

During his visit, Mr Meredith met with

• Lt. Gen (ret) Susilo Bambang Yudhoyono - Coordinating Minister for Political, Social, and Security Affairs;

• Mr. Rizal Ramli - Coordinating Minister for the Economy;

• Lt. Gen (ret) Agum Gumelar - Minister of Transportation and Telecommunication;

• Lt. Gen (ret) Luhut B. Panjaitan - Minister of Industry and Trade;

• Mr. Marzuki Darusman - Artorney General;

• Mr. Ir. H. Sadjarwo Soekardiman, MM - Head of Commission IV DPR;

• Mr. Arrwar Suprijadi - Secretary General (Ministry of Communications);

• Mr. Herman Prayitno - President Director of PELINDO II.

Note to Editors:

Jakarta International Container Terminal (JICT) is Indonesia's largest container terminal and is jointly owned by Hutchison Port Holdings (HPH) and P.T Pelabuhan Indonesia II. HPH is an independent port investor, developer and operator with operations in 18 ports in Asia, Europe and the Americas.