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HONG KONG - October
9, 2001 - PSINet Hong Kong Limited today announced
it has joined CITIC Pacific Limited (SEHK: 0267) as
a wholly owned subsidiary. With the completion of the
acquisition, the new PSINet Hong Kong becomes a unique
leader in providing end-to-end Internet services and
solutions in Greater China.
Through this integration, PSINet Hong Kong now gains
access to the CITIC Pacific group!|s portfolio of resources
including financial strength, fulfillment capabilities
and extensive telecom investment in China to extend
its world-class connectivity and solutions to corporations
operating in Greater China.
PSINet Hong Kong has already built a strong market
position in the SAR by providing enterprises with advanced
enterprise solutions such as Virtual Private Network
(VPN), dedicated leased line and broadband connection,
and value-added solutions including Virtual ISP (VISP),
managed network and hosting services. Integrating with
CITIC Pacific, PSINet Hong Kong can now provide unique
China solutions to Hong Kong and overseas companies
with current and future operations in China.
In addition, with its well-established global connectivity
through strategic network providers around the world,
PSINet Hong Kong can now extend its innovative Internet
Protocol (IP) solutions, leading-edge network management
and service provisioning in Greater China. This will
enable CITIC Pacific Communications to capitalize on
the large and fast growing value-added Internet solutions
market in the region.
!§PSINet Hong Kong will connect the world to China
and vice versa, where the amalgamation of global networks,
strong management and world-class practices is unprecedented,!ぴ
said Mr. William Kwan, President, PSINet Hong Kong Limited.
!§Revenue from our value-added services has more than
doubled in the first three quarters this year. These
include customized solutions and consulting services
such as security, VPN, managed services and enhanced
connectivity services for which demand is fast growing
in the whole Greater China region.
The acquisition immediately gives PSINet Hong Kong
partnership opportunities with CITIC Pacific Group!|s
businesses and this creates tremendous synergy for growth
in Greater China. !§With PSINet Hong Kong!|s heritage
of established global connectivity, strong technical
know-how and experienced management team, we are now
well positioned to take full advantage of the enormous
business development and market expansion opportunities
in the Greater China region,!ぴ commented Norman Yuen,
Deputy Managing Director, CITIC Pacific Limited and
Chairman of CITIC Pacific Communications Limited.
!§We are very pleased with the acquisition as it opens
up the enormous Greater China market to PSINet Hong
Kong, which multiplies our previous addressable market
potential by double, if not triple.!ぴ Mr. Kwan added.
!§Combining our strengths in global connectivity and
access to network in China via the CITIC Pacific Group,
the new PSINet Hong Kong is in a unique position to
provide !¥end-to-end!| IP Solutions and Services in
Greater China with great success.
Media Contact:
Priscilla Wat
Phone: 852-2170-7536
Email: mediaenquiry@CPCNet.com
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