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Technology Stocks : Compaq

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To: hlpinout who wrote (72884)11/30/1999 8:32:00 PM
From: hlpinout  Read Replies (1) of 97611
 
utchison, Compaq to Provide Internet Services for HK
Government

November 29, 1999 (HONG KONG) -- Timbo Star Investment has won a five-year
contract to provide the Hong Kong SAR government with an electronic service
delivery system and applications.

Timbo is a joint venture company of Hutchison Telecommunications (Hong Kong)
Ltd., a major telecommunications operator in Hong Kong, and Compaq Computer
Corp., which announced the contract.

Under the agreement, Hutchison will be responsible for the provision of Internet and
telecommunications networks, overall operation management and sales and marketing,
and Compaq will provide the technology. The site will be up and running by October
2000.

Compaq will sell an estimated US$20 million in products, services and solutions to the
joint venture company for the electronic service delivery (ESD) scheme over the next
five years. Compaq also will receive a percentage of revenue based on the volume of
transactions conducted through the portal, as well as certain commercial privileges.

The ESD system is claimed to be the first in the world to deliver government services
and commercial applications on the same Internet bilingual portal. Through the portal,
the people of Hong Kong will experience greater choice and convenience in accessing
government services and making e-services part of their lives.

The first phase of the ESD scheme will enable users to conduct a wide variety of
online transactions with 10 government departments for 37 electronic public services.
This includes payment of government bills, appointment bookings, service
applications, information look-up, change of personal particulars and general
inquiries.

Canning Fok, group managing director of Hutchison Whampoa Limited, said, "We
regard the ESD scheme as a key initiative in making Hong Kong one of the world's
most significant Internet hubs, enhancing Hong Kong's position as both an
international financial center and as one of the most high-tech cities."

Hutchison Telecom has an 85 percent stake, while Compaq holds 15 percent in the
joint venture company. The new company will also work with IT partners including
Microsoft Corp., Oracle Corp., Nortel Networks Corp. and Computer and
Technologies Holdings Ltd. (C&T) to develop the ESD system.

(Eleanor Yeung, Asia BizTech Hong Kong Editor)
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