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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: Ruffian who wrote (7025)	2/28/2000 11:27:00 AM
From: Ruffian	Read Replies (1) \| Respond to of 13582

Hutchison Australia Sees 400,000 CDMA Customers By '02 SYDNEY -- The Managing Director of Hutchison Telecommunications Australia Ltd. (A.HTK), Barry Roberts-Thomson, said Monday he expects the company's new Code Division Multiple Access digital mobile network to have 400,000 customers by 2002. That will take the total number of the company's customers to about 800,000 customers by 2002, Roberts-Thomson told reporters at a news briefing in Sydney. Hutchison Telecommunications Australia is the local arm of Hong Kong's Hutchison Whampoa Ltd. (H.HUW), which is in turn controlled by Hong Kong conglomerate Cheung Kong (Holdings) Ltd. (H.CKH). The Australian company is in the middle of building its own digital mobile telephone network that will span most of New South Wales and Victoria states, including Sydney and Melbourne. The rollout of the CDMA network is on track to match forecast targets and should be at least 90% complete by the middle of the year, Roberts-Thomson said. Earlier Monday, the company announced a net profit of A$2.3 million for 1999, down from A$12.2 million for 1998. The 1999 earnings result included a A$6.7 million abnormal charge relating to the launch of the Orange brand, which is under license from Orange PLC (ORGNY) of the U.K. Monday, shares of Hutchison Telecommunications Australia ended down 5 cents at A$5.20. The All Ordinaries index was 5.7 points weaker at 3118 points. -By Graham Morgan; 61-2-8235-2962; graham.morgan@dowjones.com Briefing Book for: H.CKH \| H.HUW