EXHIBIT A-12

TELECOMMUNICATIONS DEMAND

(HK MILLIONS)

SCENARIO 5

1988

1989

1990

1991

1992

1997

2002

2007

Base Line (Scenario 1)

Lines (Thousands) (NP)

586

624

664

705

748

973

1,241

1,584

0

0

0

0

0

65

157

222

Share of Total Lines (NP)

08

08

0%

0%

0%

78

13%

14%

Share of Lines (EP)

100%

100%

100%

100%

100%

93%

87%

868

Share of Premium Lines (NP)

0%

0%

0%

0%

0%

19%

328

35%

Share of Int'l Call Minutes (NP)

0%

0%

08

0%

0%

68

21%

25%

BUSINESS LINES

Incremental Int'l Call Growth Int'l Call Growth (Scenario 1) Total International Call Minutes Share of IDD Call Minutes (NP) Share of IDD Call Minutes (EP)

0%

08

0%

0%

0%

5%

5%

5%

18%

16%

14%

128

10%

6%

68

68

125

145

165

185

204

304

412

560

0

0

0

0

0

20

52

78

125

145

165

185

204

284

360

481

INTERNATIONAL SERVICES

Incremental Int'l Call Growth

0%

0%

0%

0%

0%

5%

5%

5%

Total Int'l Call Growth

18%

16%

14%

12%

10%

11%

11%

68

Total International Call Minutes

173

200

228

256

281

521

1,095

2,102

Share of Int'l Revenue (NP)

0

0

0

0

0

31

230

526

Share of Int'l Revenue (EP)

173

200

228

256

281

490

865

1,577

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