Intel And Pacific Century Form New Company To Explore Interactive Digital Services In Asia-Pacific Region

Pacific Convergence Corporation to Address Commercial Opportunities for Broadband Communications

HONG KONG, March 12, 1998 -- Intel Corporation and Hong Kong-based Pacific Century Group today announced that they have formed a new company to explore commercial opportunities for providing interactive digital services in the Asia-Pacific region.

The new company, Pacific Convergence Corporation (PCC), expects to deliver broadband data services to the region's populations using an integrated system of advanced telecommunications networks and related technologies.

"Interactive services, delivered efficiently and conveniently, would enrich the Asian public's experience in such areas as education, information, and entertainment," said George Chan, executive vice president of Pacific Century Group.

"The formation of PCC represents the most recent step in Intel's strategy to enable the delivery of high-speed broadband services to users of personal computers and other digital devices in homes and businesses worldwide," said William O. Howe, vice president of Intel's Consumer Products Group.

Pacific Century Group brings to PCC extensive experience in satellite and broadband network development and operation, and knowledge of and experience in the vast Asian consumer and business market segments. Pacific Century Group's management team led the successful launch of the first AsiaSat satellite and created StarTV in 1991. StarTV was the first satellite television venture to provide broad coverage of the Asia-Pacific region; in its first 36 months on the air, StarTV developed an audience of 53 million subscribers in 38 countries.

Intel brings to PCC its expertise in the personal computer platform and silicon technology, as well as its experience gained through a number of internal and external investments in broadband communications technologies.

Pacific Century Group is a private company owned by Richard Li and the company's senior management. Its primary businesses are digital media development, financial services, infrastructure and property. The group also makes investments in, and acts as majority partner for, selected Asian-market initiatives.

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