EXHIBIT 1

SUMMARY OF TELECOMMUNICATIONS

COMPETITION IN HONG KONG

Severe competition

Moderate or indirect competition

Little or no competition

MAIN COMPETITORS

EXTENT OF

COMPETITION

TYPE OF SERVICE

NATURE OF COMPETITION

MOBILE

Paging

Cellular telephone

DATA

p

Direct competition

More than 10 competitors; top 3 control 80%+ market share Compete on package (equipment and service), price, and product features/services

Direct competition

3 competitors licensed; no company has greater than 50% market share

- Compete on service coverage and product image

Prices and features similar for major products

- Indirect competition from 3 types of competitors

Public fixed-link data network- "Datapak"

·

Two specialized networks (a mobile network and a small fixed-link network with value-added services attached as a package – iNET) Equipment (e.g., dial-up modem) plus leased line from Hong Kong Telephone

Each type of competitors addresses needs of different customers

For public network customers; both sender and receiver of data subscribe to Datapak (e.g., point-of-sale network between stores and headquarters; database service that subscribe to the same public network)

·

Specialized network customers have special requirements like mobile, or require access to value-added services more accessible on the specialized network

Equipment plus leased line customers need to reach value-added services or others that do not subscribe to a public data network

Source: Literature; Hong Kong Telecom

Hutchison

- Star ABC

Hutchison

- HKT CSL

Pacific Link

Public data network: Hong Kong Telephone Specialized networks: Hutchison

– Equipment vendors: all suppliers of modems

and multiplexers

McKinsey&Company, Inc.

FIDENTIAL

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