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We are pleased to note that the two renowned credit agencies Standard & Poor's and Moody's Investors Service have separately made announcements relating to the improvement in the Company's credit ratings. While S&P has reaffirmed our grade "A" long term corporate credit rating with an adjustment of outlook from "Stable" to "Positive", Moody's has upgraded our long-term issuer rating from A2 to A1 with a stable outlook, recognizing our leading position in the fast developing mobile communications market in China and strong financial position. In addition, Moody's believes that we have demonstrated an ability to manage both internal and external growth, such that our financial profile is of strong investment grade.

26 Jul 2007
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