Panama Ports Company S. A. A member of the Hutchison Port Holdings Group Port of Balboa Bldg. 39, Arnulfo Arias Madrid Ave. Balboa, Ancon, Panama Republic of Panama Tel: (507) 232-6025 Fax: (507) 232-6583 Mail troetsch.rommel@ppc.com.pa

[Panama - 2nd October 2000] Panama Ports Company, S. A. (PPC), announces the opening of the Port of Cristobal Cruise Terminal - Pier 6, located in the city of Colon, Republic of Panama.

With a total berth length of 2,060 ft, the Cruise Terminal is able to accommodate two of the world's largest cruise vessels simultaneously. The new terminal offers a complete host of services and facilities such as shopping, restaurants, telecommunications, Internet, folkloric presentations and covered parking.

"There is enormous untapped potential for tourism in Panama. More needs to be done to spread the word of what this country has to offer and as I have said, Hutchison intends to play its part", pointed out Mr. John E. Meredith, Group Managing Director of Hutchison Port Holdings and President of PPC.

Mr. Alejandro Kouruklis, General Manager of PPC commented "Pier 6 is strategically located in the Republic of Panama where because of its geographical position offers cruise passengers a wide range of tourist attractions including access to the Caribbean Sea, the Panama Canal and the Pacific Ocean, which can all be enjoyed in a single day".

Endowed with great natural beauty, the Republic of Panama offers tourists a tremendous variety of sites and attractions to visit. The Cruise Terminal - Pier 6 will complement Panama's tourist industry and bring direct benefits especially to the city of Colon.

Port of Cristobal Cruise Terminal - Pier 6

Notes to Editor:

Panama Ports Company (PPC) operates the ports of Cristobal and Balboa located at each end of the Panama Canal. A major phased upgrade is underway to transform the two ports into major hubs to serve the Atlantic and Pacific trade routes. When modernisation is completed, PPC will have a combined annual handling capacity of 900,000 TEU.

PPC is a member of Hutchison Port Holdings (HPH), an independent port investor developer and operator with operations in 19 ports in Asia, Europe and the Americas.