Hutchison Port Holdings (HPH) a subsidiary of Hutchison Whampoa of Hong Kong announced today that it has entered into agreements with Philippines-based International Container Terminal Services, Inc. (ICTSI) to acquire ICTSI International Holdings Corp. (IIHC), the overseas port development and holding subsidiary of ICTSI.

IIHC has eight port operations and investments in Mexico, Argentina, Saudi Arabia, Pakistan, Tanzania and Thailand. These port holdings consist of 23 container and general cargo berths.

In Argentina, the operation includes the 100 % of BACTSSA - Terminal 5 ( Buenos Aires Container Terminal Services S.A. )

Commenting on the announcement, HPH Group Managing Director Mr. John Meredith said, "This transaction represents an important strategic milestone for the HPH Group, for it establishes HPH in a number of highly attractive markets across the world in which we have previously not been involved. We look forward to contributing our experience, expertise and resources in global ports management to the continued development and growth of IIHC's ports. In so doing, we will look to build on and expand the commercial success that ICTSI has achieved thus far in these businesses."

ICTSI Chairman and President Mr. Enrique K. Razon, Jr., said, "Through IIHC, ICTSI has pursued a highly effective strategy of international expansion, and we believe this transaction provides a clear endorsement of this strategy. With the considerable resources of the HPH Group firmly behind IIHC's ports, I am optimistic of the future prospects of these businesses. Meanwhile, ICTSI will continue to pursue attractive port investment and development opportunities overseas, and remains committed to its on-going projects such as Suape in Brazil."

The eight ports under IIHC include: Buenos Aires Container Terminal Services S.A. at the Port of Buenos Aires in Argentina; Ensenada International Terminal S.A. de C.V. and Ensenada Cruiseport Village S.A. de C.V. at the Port of Ensenada in Mexico; Internacional de Contenedores de Asociados de Veracruz S.A. de C.V. at the Port of Veracruz in Mexico; Terminal International de Manzanillo S.A. de C.V. at the Port of Manzanillo in Mexico; International Port Services Company Limited at the Port of Dammam in Saudi Arabia; Karachi International Container Terminal Limited at the Port of Karachi in Pakistan; Tanzania International Container Terminal Services Limited at the Port of Dar es Salaam in Tanzania; and Thai Laemchabang Terminal Company Limited at the Port of Laemchabang in Thailand.

With this acquisition, Hutchison Port Holdings control following terminals worldwide:

Hong Kong

Hongkong International Terminals Ltd.

Cosco - HIT Terminals

Mid-Stream Holding Ltd.

River Trade Terminal Company Ltd.

China

Zhuhai International Container Terminals ( Gaolan )

Jiangmen International Container Terminals

Zhuhai International Container Terminals ( Jiuzhou )

Nanhai International Container Terminals

Shanghai International Container Terminals

Shantou International Container Terminals

Xiamen International Container Terminals

Yantian International Container Terminals Ltd.

Africa

Tanzania International Container Terminal Services Ltd.

Americas

BACTSSA

Ensenada International Terminal

Freeport Container Port

Internacional de Contenedores Asociados de Veracruz, S.A. de C.V.

Panama Ports Company - Balboa

Panama Ports Company - Cristobal

Terminal Internation de Manzanillo S.A. de C.V.

Asia

International Ports Services Co. Ltd.

Jakarta International Container Terminal

Karachi International Container Terminal Ltd.

KOJA Terminal

Myanmar International Terminals Thilawa

Thai Laemchabang Terminal Company Ltd.

Westport Malaysia

Europe

Europe Combined Terminals

Harwich International

Port Port of Felixstowe

Thamesport