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Technology Stocks : PCW - Pacific Century CyberWorks Limited -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (580)	3/19/2001 5:59:20 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

270 Cos So Far Want To Become Tenants At HK Cyberport Updated: Friday, March 16, 2001 03:59 AM ET HONG KONG (Dow Jones)--So far, 270 companies have expressed an interest in becoming office tenants at the HK$15.8 billion high-tech government-owned Cyberport project currently being developed by Pacific Century CyberWorks Ltd. (PCW, news, msgs), a government spokesman said Friday. Among those, 15 have signed a letter of intent to become anchor tenants at the combined residential and office development, the spokesman from the Information Technology and Broadcasting Bureau said. When finished, the Cyberport will house about 150-200 companies of varying sizes. The updated figures were given as the government announced it has set up a committee that will advise on matters relating to the selection of office tenants at the Cyberport. The Committee on Admission of Cyberport Office Tenants or CACOT, will be chaired by Carrie Yau, secretary for Information Technology and Broadcasting. She is also director of the Hong Kong Cyberport Management Co., the government said. Other members on the advisory body will be Anthony Wong, director general of the Office for Telecommunications Authority and K.H. Lau, director of information services. It will also comprise one local professor and three academics from the U.K., Australia and the U.S. as well as representatives from the companies wanting to be anchor tenants, and five other multinationals. Construction on the Cyberport started in May last year and it will open in phases from early 2002 to the end of 2003. It will feature state-of-the art telecom infrastructure with both offices and residential accommodation within a campus-like environment. The government is providing the land for the Cyberport project free of charge, while PCCW is paying construction costs, which have been fixed at HK$15.8 billion based on current market prices. As the developer, PCCW will cover any additional costs, and will receive proceeds from residential sales in proportion to its capital contribution. All other income generated from the project, including office rentals, will belong to the government. -By Anette Jonsson, Dow Jones Newswires; 852-2802-7002; anette.jonsson@dowjones.com (Corrected 05:35 AM) quicken.com