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Hutchison Whampoa Limited

Hutchison Telecommunications
(Australia) Limited
ABN 15 003 677 227
A member of the
Hutchison Telecommunications Group
Building A, 207 Pacific Highway
St Leonards NSW 2065
Tel: 02 9964 4646
Fax: 02 9964 4668
www.hutchison.com.au

Media Release

17 February 2004

Hutchison attracts strong customer and revenue growth

3 delivers over 100,000 customers in ten months of operation. Orange delivers full year of positive EBITDA and outperforms market post paid growth, delivering 23% customer growth Hutchison today announced its full-year results for the period ended 31 December 2003.

Hutchison Chief Executive Kevin Russell said 2003 was a significant year for Hutchison, marked by a 61% increase in mobiles revenue, strong customer growth in 3 and Orange and the prospect of even greater growth in 2004.

"In 2003 Hutchison set a platform to stake its claim as a major player in the Australian mobile market in the years ahead," Mr Russell said. "We now have over 440,000 mobile customers across 3 and Orange."

"In Orange, we significantly increased our sales rate in the second half, to post over 325,000 customers at year end. Strong growth is continuing in 2004, with more than 15,000 additions by close of business yesterday. With ongoing cost discipline, we were able to record our third successive half-year of positive EBITDA performance in 2003, including our first full year of positive EBITDA.

"In 3, we have passed the 100,000 customer mark and our handsets, services and pricing offers have progressively built into a clearly differentiated product offering against our competitors."

"Losses in 3 are consistent with our business plan and with our rapid growth in 3 and Orange we are working towards one million mobile customers across the two businesses by the end of 2005," he said.

The telecommunications industry in Australia and Europe was now turning its eye to third generation mobile services, where 3 is currently the only global player to have launched services in multiple markets.

"In Australia we have a jump of at least a year or two on our competitors - and 2004 is going to begin to show how important that lead is," Mr Russell said.

Key financial results for the full-year included:

  • Total operating revenue of $340.1 million, an increase of 50% on the previous corresponding year

  • Net loss of $409.8 million -- within the planned $3 billion project funding cost.

    Operating highlights

    Orange

  • Orange Mobile contributed $221.9 million to total revenue, an increase of 15% on the previous year

  • Full year positive EBITDA result of $21.6 million compared with EBITDA loss of $14.1 million in the previous year

  • 23% growth in Orange Mobile customer numbers, to a total of 325,180.

    3

  • Launched in Sydney and Melbourne in April, 3 contributed $88.2 million to total revenue

  • EBITDA loss of $306.1 million, reflecting start-up losses consistent with the business's early stage of development

  • Customer numbers grew to 86,758 by year-end; currently over 100,000

  • Average revenue per user of $80 and churn rate of 1.1%

    -Ends-

    For more information, contact:
    Karen Mazor
    Investor Relations Manager
    Hutchison Telecoms
    02 9964 4885
    0425 292 144

    About Hutchison Telecommunications (Australia) Limited

    Hutchison Telecoms is a listed Australian company (ASX:HTA) leading the introduction of innovative wireless services in the Australian mobile market. Its principal activities include the operation of its Orange telecommunications business as the provider of choice for value based voice and messaging services; and pioneering the introduction of content-rich mobile multimedia services under the global brand 3.

    Hutchison Telecoms is majority-owned by Hutchison Whampoa Limited, a Hong Kong listed multinational company.

    Source: Hutchison Whampoa Limited
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