PCCW acquires 5% stake in TOM.COM

3 February 2000

HONG KONG, February 3, 2000 - TOM.COM LIMITED (TOM.COM) announced today that it has entered into agreement with Pacific Century CyberWorks (PCCW) with respect to the acquisition of a 5% strategic interest in TOM.COM.

As a result of PCCW's investment, Hutchison Whampoa and Cheung Kong hold altogether 57% of TOM.COM (HWL:38% & CKH:19%) while the other strategic investors, Handel and Schumann, hold 14.25% and 23.75% respectively.

"We are delighted to have PCCW as one of our strategic investors. The Internet world is fast expanding and without boundaries. Under this strategic partnership, coupled with PCCW's established expertise and extensive knowledge in the Internet market, together we shall explore development opportunities to create the maximum synergies and value-added benefits for both companies," said Mr. Carl Chang, CEO of TOM.COM LIMITED.

TOM.COM is a dynamic mega portal aimed at offering the most comprehensive China content to global audience in different languages while meeting the growing demand for unique content, global and China-related, for the Chinese audience. Its mandate is to "Bring China to the World and Bring the World to China". The portal made its debut two weeks ago and a series of content launches are being planned.

Issued by WORLDCOM Hong Kong Ltd. on behalf of TOM.COM LIMITED. For press information, contact :