Hang Lung Group Limited — Proxy Solicitation & Information Statement 2008

May 8, 2008

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PCCW Limited 電訊盈科有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 0008)

NOTICE OF EXTRAORDINARY GENERAL MEETING

NOTICE IS HEREBY GIVEN that an extraordinary general meeting (the “ EGM ”) of PCCW Limited (the “ Company ”) will be held at 12:00 p.m. on 29 May 2008 (Thursday) in the Conference Room, 14th Floor, PCCW Tower, TaiKoo Place, 979 King’s Road, Quarry Bay, Hong Kong (or as soon thereafter as the annual general meeting of the Company convened for the same place and on the same date at 11:00 a.m. shall have been concluded or adjourned) to consider and, if thought fit, approve, with or without modifications, the following resolution as ordinary resolution of the Company:-

“ THAT :

• (i) the Services (other than the Group Data Services for the year ending 31 December 2008) (as more particularly described in the table set out on page 5 of the “Letter from the Board” section of the Circular (as defined below)) issued by the Company on the date hereof to its shareholders (the “ Circular ”) be and are hereby approved;

• (ii) the Revised Caps (other than the 2008 Group Data Services Cap) in respect of each of the years ending 31 December 2008 and 2009 (as more particularly described in the table set out on page 5 of the “Letter from the Board” section of the Circular) be and are hereby approved;

• (iii) the New Caps in respect of the year ending 31 December 2010 (as more particularly described in the table set out on page 5 of the “Letter from the Board” section of the Circular) be and are hereby approved; and

• (iv) the Waiver, to be applicable on the conditions in respect of the Services to be provided for each of the years ending 31 December 2008, 2009 and 2010 (as more particularly described on pages 10 to 11 of the “Letter from the Board” section of the Circular), be and is hereby approved.”

By Order of the Board of PCCW Limited Philana WY Poon

Group General Counsel and Company Secretary

Hong Kong, 9 May 2008

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Notes:

1. Any member of the Company entitled to attend and vote at the EGM (or any adjournment thereof) (the “ EGM ”) is entitled to appoint another person as his proxy to attend and, on a poll, vote in his stead in accordance with the Articles of Association of the Company. A proxy need not be a member of the Company.

2. Where there are joint registered holders of any share, any one of such persons may vote at the EGM, either personally or by proxy, in respect of such share as if he were solely entitled thereto; but if more than one of such joint holders is present at the EGM personally or by proxy, that one of the holders so present whose name stands first on the register of members of the Company in respect of such share shall alone be entitled to vote in respect thereof.

3. The form of proxy and the power of attorney or other authority, if any, under which it is signed (or a notarially certified copy of such power of attorney or authority) must be deposited with the Company’s share registrars, Computershare Hong Kong Investor Services Limited, Investor Communications Centre, Rooms 1806-1807, 18th Floor, Hopewell Centre, 183 Queen’s Road East, Wan Chai, Hong Kong no later than 48 hours before the time appointed for holding the EGM, otherwise the form of proxy shall not be treated as valid. Completion and return of the form of proxy shall not preclude members of the Company from attending and voting in person at the EGM should they so wish.

The directors of the Company as at the date of this announcement are as follows:

Executive Directors:

Li Tzar Kai, Richard (Chairman); Alexander Anthony Arena (Group Managing Director); Peter Anthony Allen; Chung Cho Yee, Mico; Lee Chi Hong, Robert

Non-Executive Directors:

Sir David Ford, KBE, LVO; Zhang Chunjiang; Zuo Xunsheng (Deputy Chairman); Li Fushen

Independent Non-Executive Directors:

Prof Chang Hsin-kang; Dr The Hon Sir Li Kwok Po, David, GBM, GBS, OBE, JP; Sir Roger Lobo, CBE, LLD, JP; Aman Mehta; The Hon Raymond George Hardenbergh Seitz

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