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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1140)	4/28/2001 10:52:55 PM
From: ms.smartest.person	Read Replies (1) of 2248

Quamnet - PCCW Names ex-J.P. Morgan's Ma Executive Director Apr 27, 2001 - 18:39:08 HKT Quamnet News Service -------------------------------------------------------------------------------- Pacific Century CyberWorks (0008), Richard Li's Internet investment vehicle, today announced the appointment of former J.P. Morgan executive Frederick S. Ma as an executive director of the company. To ensure Ma joins PCCW as early as possible, PCCW said its chairman Richard Li has arranged to transfer to a company beneficially owned by Ma and his spouse 7.75 million PCCW shares from his wholly owned Pacific Century Group Holdings Ltd. Based on PCCW's last quote of HK$2.70, the shares are worth HK$20.9 million. PCCW said no new shares were issued for the move, and PCCW didn't bear any portion of the cost of the shares that were transferred to Ma. According to PCCW, Ma intends to hold the shares as a long-term investment. He will be responsible for the financial performance and strategic direction of all present and future subsidiaries and associated companies of the group. A graduate from the University of Hong Kong, Ma was formerly appointed chief executive, Asia Pacific, of J.P. Morgan Private Bank in January 2001. -------------------------------------------------------------------------------- Copyright 2000 Quam(IA) Limited, All rights reserved quamnet.com

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