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April 27th, 2000
FOR IMMEDIATE RELEASE
TIW and Hutchison Whampoa announce cooperation on UK UMTS
Montreal, London, Hong Kong, April 27th, 2000 - Telesystem International Wireless Inc. (TIW) is pleased to announce that at the end of the UMTS (Universal Mobile Telecommunications System) auction in the United Kingdom, it was the highest bidder for licence "A".
TIW UMTS UK Ltd. submitted an offer of 
4,384.7million. Reserved for new entrants, licence "A" is the largest licence with a total of 35 MHz of spectrum (2x15 MHz paired + 5 MHz unpaired).
In addition, TIW and Hutchison Whampoa Limited ("Hutchison") announce that they have formed a UK UMTS joint venture company that will carry on a national UK UMTS business as a mobile virtual network operator (the "MVN Operator"). TIW has a 9.9% and Hutchison a 90.1% interest in the MVN Operator.
TIW will build a national UMTS network in the UK and will make the network's capacity available, under a take or pay agreement, to the MVN Operator. TIW and Hutchison have also agreed to collaborate closely in the development of the UMTS network and MVN Operator network operations and will continue to explore further strategic opportunities.
TIW will finance the total purchase of the licence out of a loan facility jointly arranged by Chase Manhattan plc and HSBC. This facility will form part of overall funding arrangements to enable TIW to build the UMTS infrastructure, which will be used by the MVN Operator Company. The facility is credit supported by Hutchison.
"This commercial agreement is an important step in building our UMTS business strategy in Europe" said Bruno Ducharme, President and Chief Executive Officer of TIW. "We look forward to working with Hutchison which has been highly successful in this market," concluded Mr. Ducharme.
Commenting on this joint venture, Canning Fok, Group Managing Director of Hutchison said, "the agreement with TIW on UMTS in the U.K. marks a major milestone in Hutchison's telecommunications strategy in Europe. I firmly believe that this new spectrum will become the basis from which Hutchison develops its 3G mobile telephony and wireless internet applications. I am delighted that Hutchison is able to team up with TIW to venture into this very important business in the U.K."
Notes to Editors
Hutchison Whampoa Ltd
Hutchison is a Hong Kong-based conglomerate with origins dating back to the 1800s. With a market capitalisation in excess of US$ 54 billion, Hutchison is one of the largest companies in Hong Kong. With over 80,000 employees worldwide, Hutchison operates five core businesses in 24 countries: ports and related services; telecommunications and e-commerce; property and hotels; retail and manufacturing; and energy and infrastructure. Hutchison's telecommunications businesses and holdings span several continents, and include such diverse products as mobile telephony (voice and data), fixed line services, fibre optics broadband networks, web hosting, ISP and ICP services, paging, trunked mobile radio, VSAT and radio broadcasting.
TIW - Telesystem International Wireless Inc.
TIW is a rapidly growing, global mobile communications operator with over 2.7 million subscribers in four dynamic geographic clusters. The Company's shares are listed on the Toronto Stock Exchange ("TIW") and NASDAQ ("TIWI").
TIW is deploying a pan-European digital specialised mobile radio (ESMR) network through its subsidiary Dolphin Telecom plc. Dolphin currently offers ESMR services in the United Kingdom in addition to analogue SMR services in the United Kingdom, France, Germany, Belgium, Spain and Portugal. In Central and Eastern Europe, TIW is the cellular market leader in Romania and recently launched service in the Czech Republic following its award of a GSM 1800 license. In Brazil, TIW is the strategic and operating partner of the country's fifth largest cellular group, with operations in four regions. The Company is pursuing opportunities in Asia through TIW Asia, an affiliate company established in October 1999 with a capital commitment in excess of US$ 420 million.
FOR INFORMATION:
TIW:
| Mark Boutet | Benoit Forcier |
| Director, Communications | Director, Investor Relations |
| Telesystem International Wireless Inc. | Telesystem International Wireless Inc. |
| (514) 673-8406 | (514) 673-8468 |
| mboutet@tiw.ca | bforcier@tiw.ca |
Lizzie Phillips
Edelman Public Relations
(44) 207 344 1200
lphillips@edeluk.com
HUTCHISON:
| LAURA CHEUNG | Keith Bradley |
| General Manager, Group Corporate Affairs | Director of Business Development |
| Hutchison Whampoa Limited | Hutchison Telecommunications |
| (852) 2128-1235 | (44) 207 499 1886 |
| laurac@hwl.com.hk | kbradley@attglobalnet |
CRAIG BREHENY
EDWARD BREWSTER
BOB MITCHELL
Brunswick Group Limited
(44) 171 404 5959
cbreheny@brunswickgroup.com
ebrewster@brunswickgroup.com
bmitchell@brunswickgroup.com
Our web site addresses are:
www.tiw.ca
www.hutchison-whampoa.com
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