The Speeches of the President of APT Satellite on 14 Nov 1997

The Speech of Mr. He, President of APT Satellite Holdings Ltd.

for the Cocktail Party to Celebrate the Success of Launching and Positioning of APSTAR-IIR Satellite and the Completion of In-orbit Testing

Honourable Mr. Tung Chee-hwa, Chief Executive of Hong Kong Special Administrative Region, Mr. Zhang Xinxia, Mr. Bob Berry, all prestigious guests, ladies and gentlemen,

Today, APT Satellite Holdings Ltdl, China Great Wall Industrial Corporation and Space Systems / Loral Inc. have the honour to hold a cocktail party to celebrate the success of positioning of APSTAR-IIR satellite launched by Long March 3B Launch Vehicle and the overall completion of in-orbit testing of the satellite. At first, on behalf of APT Satellite Holdings Ltd., I would like to express our sincere thanks and warm congratulation to China Great Wall Industrial Coroporation and Space Systems / Loral Inc., for their great effort and contribution to the satellite launching program.

APSTAR-IIR satellite, that was perfectly launched by Long March 3B Launch Vehicle, is now on the designated orbit in the space, which symbolizes that APSTAR Systems formally proceed to a new stage and new level. APSTAR-IIR satellite is a FS-1300 high powered satellite built by Space Systems / Loral Inc. of USA with 28 C-band and 16 Ku-Band transponders. This satellite together with APSTAR-I and APSTAR-IA satellite have formed a comprehensive and advanced-satellite system providing high quality and reliable satellite services to over 100 countries over Asia, Europe, Africa and Australia, or approximately 75% of the world's population. This satellite enables our Company to extend our business from C-Band into Ku-Band. In the meantime it expands our client base, increases our revenue and strengthens the solid foundation for the future development of Direct-To-Home TV broadcasting business.

The successful launching of APSTAR-IIR satellite also symbolizes that the cooperation between APT Satellite Holdings Ltd. and China Great Wall Industrial Corporation and Space Systems / Loral Inc. can be strengthened to higher level as time goes by. We deeply believe that our business cooperation would continously be reinforced, and we would make contribution for the prosperity and thriving of China especially of the Hong Kong Special Administrative Region.

I would like to take this opportunity to particularly express our sincere thanks to the enterprises, entities and the Government of Hong Kong Specical Administrative Region which have given us support and assistance.

Finally, I would like to express once more our thanks to China Great Wall Industrial Coroporation and Space Systems / Loral Inc. for the effort and contribution it made for the manufacturing and launching of APSTAR-IIR satellite. Thank you all!

14th November, 1997.