| Contact Person: | Michelle Lu, General Manager - Group Corporate Affairs |
| Telephone: | (852) 2619 7557 Fax: (852) 2612 0083 |
| E-mail: | gca@hph.com.hk |
| Date: | 3 July 2001 |
[03 July 2001 - Hong Kong] Hutchison Port Holdings (HPH) is pleased that the European Commission has approved its acquisition of a stake in the leading Rotterdam container terminal operator Europe Combined Terminals (ECT).
HPH Group Managing Director, John Meredith, said that the decision had resolved the jurisdictional issue raised by the Commission in October last year.
"We are pleased that the issue has been resolved. Now we can focus on the continued provision of modern port infrastructure development at ECT."
HPH, which has existing investments in a number of UK Ports, believes that its presence at the Port of Rotterdam will consolidate its position in the competitive and rapidly evolving markets for port services in Europe. It also believes its participation in ECT will bring benefits to its customers by expanding the international trade opportunities for both the countries involved and for the customers its serves.
Rotterdam is Europe's leading container port.
HPH and Rotterdam Municipal Port Management (RMPM) have co-operated fully with the European Commission throughout this investigation. They are pleased that the Commission has taken this opportunity to make a fresh examination of the European port services market. As a result of this examination, Hutchison and RMPM have agreed to take measures to increase the provision of third party services at Rotterdam, in order to ensure continued competition.
Notes to Editors:
Hutchison Port Holdings (HPH) is an independent port investor, developer and operator with interests in Asia, Africa, Europe and the Americas. Today, HPH operates a total of 162 berths in 29 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 25.3 million TEU in 2000.
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