China Communications Services Corporation Limited (“CCS”) completed its H-share placement bookbuilding on March 28, 2008 and formal allotment on April 9, 2008. The follow-on offering issued 359 million shares, worth US$240 million. China International Capital Corporation (“CICC”) acted as Sole Bookrunner and Lead Underwriter.

On April 3 2008, CCS acquired one of the key enterprises in domestic telecommunications industry, China International Telecommunication Construction Corporation (“CITCC”). The acquisition target is CITCC’s 100% equity owned by China P&T Appliances Company. The total consideration is RMB505 million. CICC acted as CCS’ Sole Financial Advisor.