15 Banks Underwrite H3G Loan

date: January 23, 2002

H3G SpA has announced that four more leading banks have joined its bank underwriting group as Mandated Lead Arrangers. As a result, the Company’s Euro 3.2 billion facility will be underwritten by 15 banks. The additional Mandated Lead Arrangers are Unicredit Banca Mobiliare, China Construction Bank, Centrobanca and Bank of China International.

In addition to the facility, the Company has arranged for Euro 1.0 billion in external financing from its major equipment suppliers on the same terms as its loan from the bank underwriting group, bringing total financing available for its venture to Euro 4.2 billion.

General syndication of the facility is to begin at the end of the month with roadshows in Hong Kong and Milan. Commenting on the announcement, H3G SpA CEO Vincenzo Novari said, “We are very pleased at the strong and growing support for our company in the global bank community, which is evident by the commitment of these four additional underwriters at the Mandated Lead Arranger level.”

H3G was set up with the purpose of becoming the first Multi-Media Mobile Operator on the Italian market. Upon obtaining a UMTS license in Italy under the name Andala in November 2000, with an offer of 3,253 million Euro, H3G is now aiming to the the first on third-generation mobile business. Its shareholders include first-rate Italian and international players in telecommunications, Internet and the new media, publishing and banking. Hutchison Whampoa is the majority shareholder with 88.2% of the corporate capital, followed by CIR, S. Paolo Imi, BMI, HDP, Gemina, and Tiscali.

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