Comba Telecom - Comba Telecom Systems Holdings Limited Global Offering Receives Overwhelming Response

Hospitality

Hospitality industry is a very broad industry as it consists of hotels, cruise ships, restaurants and anything that covers tourism or for leisure. In today’s high-tech world, mobile technology and social media act as the platform for businesses to promote their services and offerings for customers to make reservations through tablets and phone apps. Customers are also able to praise or critique their experience directly through social media. Hence the success of businesses is dependent on customer’s satisfaction and their praises for the services.

Antennas & Subsystems

With a seasoned team of R&D engineers and its state-of-the-art design tools and testing equipment, Comba supplies customers with robust, cost-effective antennas based on its innovative patented designs. Its largest microwave anechoic chambers in the region, located in Guangzhou, China, has been used by many customers around the world as an accredited testing facility for antenna performance benchmarking. Comba’s Antenna & Subsystem division offers full range of wireless antenna and RF products for cellular systems.

Comba Telecom Systems Holdings Limited Global Offering Receives Overwhelming Response

Final offer price set at HK$1.88 per share Hong Kong Public Offer 8.8 times subscribed

(Hong Kong, 13 July 2003) – Comba Telecom Systems Holdings Limited ("Company" or "Comba"; SEHK stock code: 2342) today announced that the final offer price for the Global Offering has been set at HK$1.88 per share (excluding brokerage commission, Securities and Futures Commission transaction levy, Securities and Futures Commission investor compensation levy and Stock Exchange of Hong Kong trading fee). The offer size was 200,000,000 new Shares representing 25% of the Company's enlarged share capital after completion of the Global Offering. In addition, the Company has granted The Hongkong and Shanghai Banking Corporation Limited an over-allotment option of up to 15% of the base offer size, representing 3.75% of the Company's enlarged share capital after completion of the Global Offering.

The total net proceeds raised from the Global Offering (before the exercise of the Over-allotment Option but after deducting related expenses) are approximately HK$343 million. Trading in the shares on the Stock Exchange of Hong Kong is expected to commence on Tuesday, 15 July 2003.

In the International Placing, professional and institutional investors have placed orders for approximately 890.5 million shares, which is equivalent to a total value of HK$1,892 million at the maximum offer price of HK$2.125. This represents subscription of approximately 5 times the initial International Placing size of 180 million new shares.

During the Hong Kong Public Offer period, which ran from Thursday, 3 July 2003 to 12:00 noon on Tuesday, 8 July 2003, retail investors submitted 396 valid applications, covering 176,238,000 shares with a total value of HK$374.5 million. Representing subscription of 8.8 times the initial Hong Kong Public Offering size of 20,000,000 new shares.

Comba was the leading wireless coverage solutions provider in the PRC in 2002 with a market share in terms of revenue of approximately 21% (source: IDC, 2003), and principally provides integrated wireless coverage solutions through its national sales and services network to its customers in the PRC. The Comba Group also sells its wireless coverage products to customers in the PRC and Southeast Asia, such as India, Thailand, Indonesia and Singapore.

Comba's wireless coverage solutions are designed to expand and enhance the coverage of mobile telecommunications networks to improve the quality of reception for mobile phone users. The Comba Group has 21 offices located in 19 provinces throughout China providing sales, project survey and design, project management, installation and maintenance services.

Mr Fok Tung Ling, Chairman and Managing Director of Comba, said, "We are very encouraged by the strong support from investors not only in Hong Kong but also from global institutional investors.

"The mobile telecommunications business is a major area of growth in China and the positive response from the Hong Kong public reflects their recognition of the value and potential of Comba's leading role in this fast growing industry. We are committed to continuing to build the Company as the leading providing of wireless coverage solution in the PRC and to deliver the maximum shareholder value," Mr Fok said.

The Hongkong and Shanghai Banking Corporation Limited is the Global Co-ordinator, Bookrunner, Lead Manager and Sponsor of the Global Offering.