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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: pennywise who started this subject	3/1/2001 4:25:37 PM
From: ms.smartest.person	of 2248

Hong Kong New T&T Cuts IDD Rates In Asia To Counter Rivals February 27, 2001 9:11 PM HONG KONG -(Dow Jones)- New T&T Hong Kong Ltd. announced Wednesday plans to cut international direct dialing rates in a bid to counter new promotional programs offered by its rivals. New T&T is unit of The Wharf Holdings Ltd. (H.WHF). New T&T will cut IDD rates by 31% to 67 HK cents a minute from 97 cents a minute for calls to China and other Asian destinations, including Japan, Taiwan and Singapore. Its rates to the U.S., U.K., Canada and Australia remain unchanged at 27 HK cents a minute. The promotional period will run from March 1 through April 30 during evenings and weekends. The company said its rates are far lower than its competitors, which include PCCW-HKT, controlled by Pacific Century Cyberworks Ltd. (H.PCW), City Telecom (Hong Kong) Ltd. (CTEL), New World Telephone, a division of New World Development Ltd. (H.NWD) and Hutchison Global Crossing, partly owned by Hutchison Whampoa Ltd. (H.HUW). New T&T said flashy gift redemption programs offered by its rivals mask significantly higher rates. -By Kirsti Hastings, Dow Jones Newswires; (852) 2832 2337; kirsti.hastings@dowjones.com -0- 28/02/01 01-57G (This story was originally published by Dow Jones Newswires) Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved smartmoney.com

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