Hong Kong Gets 1Gb/s Broadband

HONG KONG -- Hong Kong Broadband Network Limited ("HKBN", a wholly-owned subsidiary of City Telecom (HK) Limited, (HKSE:1137) (Nasdaq:CTEL - News) is pleased to announce the surpassing of 10,000 symmetric 1Gbps broadband subscribers. It is our objective to commoditize bandwidth and make 1Gbps the mass market norm for Hong Kong. Accordingly, we have priced our 1Gbps service for the masses at HK$199/month (US$26), which is amongst the best value in Hong Kong and around the World.

S. L. Lo, Chief Technology Officer of HKBN said, "We are happy to see that our innovation is helping to lead Hong Kong into a new Fibre based ultra-high bandwidth era, with the evolution from dial-up to broadband to copper based broadband, and now from copper based broadband to Fibre based ultra-fast broadband. We are proud to have contributionto Hong Kong being recognized amongst the Global leaders for bandwidth affordability and availability."

In a report commissioned by The Office of the Telecommunications Authority of Hong Kong (OFTA), International Tariff Benchmarking 2010 by Strategy Analytics Teligen Tariff & Benchmarking Service, May 2010,"In terms of individual service basket comparison, Hong Kong also compares favourably with the other cities, being the least expensive city for three out of the five residential services and two out of the three business services examined. Such low prices are attributable to the fact that Hong Kong hosts one of the most competitive telecommunications markets in the world."

Hong Kong Broadband Network Ltd. (HKBN)