TNAG-2247-FCO40-3230-Business-interests-in-Hong-Kong-Cable-&-Wireless-1991

EXHIBIT 4

EXTENT OF LOCAL NETWORK DIGITALIZATION

Percent

1991

Hong Kong

Singapore

US

UK

44

Japan

39

Western Europe

37

average

55

Source: World Public Switching Market, 1990

77%

75

1993 ESTIMATES

McKinsey & Company, Inc.

46

54

53

63

85

100%