Regarding Pacific Century Premium Developments' (HKG:0432) (PCPD) suspension of trading in its shares pending the release of an announcement relating to certain capital reorganisation proposals, PCCW Limited (HKG:0008) said it understands that detailed terms of the aforesaid proposals have not been finalized and that no decision has been made by the board of directors of PCPD to proceed. Accordingly, there is no guarantee that the proposals will proceed. However, if the proposals were to proceed, the listing of PCPD's shares on the Stock Exchange would be maintained and appropriate arrangements would be made to ensure that PCPD complies with the minimum public float requirement under the Listing Rules.

As referred to in PCPD's announcement dated 31 January 2012, PCPD has requested a suspension of trading in its shares pending the release of an announcement relating to certain capital reorganisation proposals of PCPD involving a conditional cash offer on behalf of PCPD to repurchase the shares of PCPD (which does not involve the privatisation of PCPD); arrangements to enable PCPD to fulfill the minimum public float requirement under the Listing Rules following closing of the offer; and the issue of a new convertible note upon the maturity of the 2014 convertible note.

PCCW indirectly holds 61.53% of the issued share capital of PCPD.