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2 July 2002

Change of Sales & Marketing Director at Octopus


Octopus Cards Limited (OTP) announced today the appointment of Mrs Cindy Cheng as the new Sales & Marketing Director, replacing Ms Joan Ng who will remain with the Company until the end of July. Ms Ng will be taking up the position of Vice President - Marketing Fashion with Daniel Swarovski Corporation in summer.

"Cindy is a distinguished figure in the information technology and retail sector. Her extensive experience in IT, e-commerce, marketing, and retail industry covering the Asian Pacific region, will offer new perspective and vigour in helping the Company accomplish its business expansion goal," said Mr Eric Tai, Chief Executive Officer of OTP. Mrs Cheng will be on board on 3 July 2002.

Mrs Cheng was previously the Chief Executive Officer of Dickson Cyber Concepts,a subsidiary of publicly listed Dickson Concepts. She joined the Company in January 2000. Under her leadership, the Dickson Cyber Express Shopping Mall has been successfully transformed to a first-of-its-kind Warehouse Outlet Mall in Hong Kong for top international and designer brand goods.

Prior to joining Dickson, Mrs Cheng had a long service with IBM where she had held various senior positions. She began her career at IBM in the United States in 1977 as an application programmer. Four years before leaving the company, she was appointed General Manager of e-business and Multi-industry Solutions in IBM Greater China (China, Taiwan and Hong Kong). Her major responsibilities included formation and execution of marketing strategies for IBM, promotion of awareness and adoption of e-business and assisting customers to build up information infrastructure and business e-solutions in the Greater China region.

Being a highly regarded and experienced practitioner in the field, Mrs Cheng has served on various committees. Her present public services include: Chairwoman of the e-Commerce Adoption Campaign Organizing Committee, Chairwoman of the Information Services Committee of Hong Kong Coalition of Services Industries, and Vice President of the Hong Kong Information Technology Federation.

Mr Tai also paid tribute to the current Sales & Marketing Director. "Joan's departure is a regret. With her significant and highly meritorious contributions, Octopus has successfully expanded beyond the transport arena to a wide spectrum of applications in the past few years. Moreover, she has created and motivated a highly-professional team that will continue to create user business opportunities in the years ahead." He continued, "we would like to wish Joan all the very best for the future."

Ms Ng has held her directorship in OTP' Sales & Marketing Department since November 1999, and prior to that she was the General Manager of the Consumer Goods Division of Swarovski HK Limited.

Career advancement coupled with her passion of and expertise in the field of crystal have prompted her to pursue the new endeavours. In her new role, she will move to Switzerland with her family.

Octopus was launched in September 1997. Today, more than 8.6 million cards are in circulation, with daily transactions of over 7.2 million. OTP currently has over 130 service providers, including public transport, car parks, retailing services such as convenience stores, supermarket, fast food, cake shops, self-help services like vending, photo booths, photocopies, leisure facilities, schools as well as access control for housing estates.

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Media Enquiries:

Ms Joey Wong
Assistant Public Relations Manager
Octopus Cards Limited
Tel: 2266 2226
Fax: 2266 2254
Email: mediahotline@octopuscards.com

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