| Contact Person: Telephone: Fax: Date: | Michelle Lu, General Manager - Group Corporate Affairs (852) 2619 7557 (852) 2612 0083 26th October 2000 |
[Hong Kong 26th October 2000] The transaction whereby Hutchison Atlantic acquired a 35% interest in ECT was notified to the EU Commission in November 1999 under article 81 of the EU treaty.
We confirm that we have received a statement of objections which sets out the EU Commission's preliminary view that the transaction requires notification under the EU merger regulation.
We now have an opportunity to respond to this preliminary view and we will do so shortly. Based upon the legal advice received we are very confident that the transaction falls outside the requirement for notification under the merger regulation.
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Note to Editors:
Hutchison Port Holdings (HPH) is an independent port investor, developer and operator with interests in Asia, Europe and the Americas. Today, HPH operates a total of 136 berths in 19 ports together with a number of transportation related service companies. With industry recognized core competence in the effective and efficient management and operation of container ports, the HPH Group handled over 17.9 million TEU in 1999.
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