Document:

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                                                                   Exhibit 10.64

               HUTCHISON TELECOMMUNICATIONS INTERNATIONAL LIMITED

                               SHARE OPTION SCHEME

        I, CHOW WOO Mo Fong Susan, a director of Hutchison Telecommunications
        International Limited, hereby certify that, pursuant to paragraph 2.4 of
        the rules of the Share Option Scheme hereto attached, the conditions set
        out in paragraph 2.1 of such rules were satisfied on the date set out
        below and that such date is the "Adoption Date" as defined in such
        rules:

        Adoption Date: 17 September 2004

                                                   /s/ Chow Woo Mo Fong Susan
                                                 -------------------------------
                                                 Name: CHOW WOO Mo Fong Susan
                                                 Position:  Director

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                                    I N D E X

Clause no.   Heading                                                    Page no.
----------   -------                                                    --------

     1       Definitions ......................................................1

     2       Conditions .......................................................4

     3       Purpose and administration .......................................4

     4       Grant of Options .................................................5

     5       Subscription Price ...............................................8

     6       Exercise of Options ..............................................8

     7       Early termination of Option Period ..............................10

     8       Maximum number of Shares available for subscription .............11

     9       Adjustments to the Subscription Price ...........................13

    10       Cancellation of Options .........................................14

    11       Share capital ...................................................15

    12       Disputes ........................................................15

    13       Alteration of this Scheme .......................................15

    14       Termination .....................................................16

    15       Miscellaneous ...................................................16

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1.      DEFINITIONS

1.1     In this Scheme the following expressions shall have the following
        meanings:

        "ADOPTION DATE"
                the date on which this Scheme becomes unconditional upon
                fulfilment of the conditions set out in paragraph 2.1;

        "ASSOCIATE"
                shall bear the meaning as defined in the Listing Rules;

        "AUDITORS"

                the auditors for the time being of the Company;

        "BUSINESS DAY"
                any day on which the Stock Exchange is open for the business of
                dealing in securities;

        "COMPANY"
                Hutchison Telecommunications International Limited, a company
                incorporated in the Cayman Islands with limited liability;

        "CONNECTED PERSON"
                shall bear the meaning as defined in the Listing Rules;

        "DIRECTORS"
                the directors of the Company for the time being or a duly
                authorised committee thereof;

        "ELIGIBLE PARTICIPANTS"
                the persons who may be invited by the Directors to take up
                Options as referred to in paragraph 4.1;

        "ELIGIBLE EMPLOYEE"
                any employee or consultant (as to functional areas of finance,
                business or personnel administration or information technology)
                (whether full time or part time, including any executive
                director but excluding any non-executive director) of the
                Company, any Subsidiary or any Invested Entity;

        "GRANTEE"
                any Eligible Participant who accepts the Offer in accordance
                with the terms of this Scheme or (where the context so permits
                and as referred to in paragraph 6.4(a)) his Personal
                Representative;

        "GROUP"
                the Company and its Subsidiaries;

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        "HONG KONG"
                the Hong Kong Special Administrative Region of the People's
                Republic of China;

        "INVESTED ENTITY"
                any entity in which any member of the Group holds an equity
                interest;

        "LISTING RULES"
                the Rules Governing the Listing of Securities on the Stock
                Exchange;

        "OFFER"
                an offer for the grant of an Option made in accordance with
                paragraph 4.3;

        "OFFER DATE"
                the date, which must be a Business Day, on which an Offer is
                made to an Eligible Participant or, in the case of an Offer for
                a further grant of Option under paragraph 8.3, the date, which
                must be a Business Day, of the meeting of the Directors for
                proposing such further grant;

        "OPTION"
                an option to subscribe for the Shares granted pursuant to this
                Scheme;

        "OPTION PERIOD"
                in respect of any particular Option, a period (which may not
                expire later than 10 years from the Offer Date of that Option)
                to be determined and notified by the Directors to the Grantee
                thereof and, in the absence of such determination, from the date
                of acceptance of the Offer of such Option to the earlier of (i)
                the date on which such Option lapses under the provisions of
                paragraph 7 and (ii) the date falling 10 years from the Offer
                Date of that Option;

        "PERSONAL REPRESENTATIVE(s)"
                the person or persons who, in accordance with the laws of
                succession applicable in respect of the death of a Grantee
                (being an individual), is or are entitled to exercise the Option
                granted to such Grantee (to the extent not already exercised);

        "SCHEME"
                this Share Option Scheme in its present form or as may be
                amended in accordance with paragraph 13;

        "SHARES"

                shares of HK$0.25 each in the Company, or, if there has been a
                subdivision, consolidation, reclassification or reconstruction
                of the share capital of the Company, shares forming part of the
                ordinary equity share capital of the Company of such other
                nominal amount as shall result from any such subdivision,
                consolidation, reclassification or reconstruction;

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        "STOCK EXCHANGE"
                The Stock Exchange of Hong Kong Limited or other principal stock
                exchange in Hong Kong for the time being or such other stock
                exchange which is the principal stock exchange (as determined by
                the Directors) on which the Shares are for the time being listed
                or traded;

        "SUBSCRIPTION PRICE"
                the price per Share at which a Grantee may subscribe for the
                Shares on the exercise of an Option pursuant to paragraph 6;

        "SUBSIDIARY"
                a company which is for the time being and from time to time a
                subsidiary (within the meaning of the Companies Ordinance
                (Chapter 32 of the Laws of Hong Kong)) of the Company, whether
                incorporated in Hong Kong, the Cayman Islands or elsewhere;

        "SUBSTANTIAL SHAREHOLDER"
                shall bear the meaning as defined in the Listing Rules;

         "Termination Date"
                close of business of the Company on the date which falls ten
                (10) years after the Adoption Date; and

        "HK$"
                Hong Kong dollars.

1.2     In this Scheme :

        (a)     paragraph headings are for ease of reference only and shall be
                ignored in construing this Scheme;

        (b)     references to paragraphs or sub-paragraphs are references to
                paragraphs or sub-paragraphs hereof;

        (c)     words importing the singular include the plural and vice versa;

        (d)     words importing one gender include both genders and the neuter
                and vice versa;

        (e)     references to persons include bodies corporate and
                unincorporated;

        (f)     references to any statutory provisions or rules prescribed by
                any statutory bodies shall include the same as from time to time
                amended, consolidated and re-enacted; and

        (g)     references to any statutory body shall include the successor
                thereof and any body established to replace or assume the
                functions of the same.

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2.      CONDITIONS

2.1     This Scheme is conditional upon:

        (a)     the Listing Committee of the Stock Exchange granting approval of
                the listing of and permission to deal in any Shares to be
                allotted and issued by the Company pursuant to the exercise of
                Options in accordance with the terms and conditions of this
                Scheme, and the commencement of dealings in the Shares on the
                Stock Exchange;

        (b)     the passing of the necessary resolution to approve and adopt
                this Scheme in general meeting or by way of written resolution
                of the shareholder(s) of the Company; and

        (c)     the passing of the necessary resolution to approve this Scheme
                in general meeting of the shareholder(s) of Hutchison Whampoa
                Limited.

2.2     If the conditions referred to in paragraph 2.1 are not satisfied within
a reasonable period (as determined by the Board), this Scheme shall forthwith
determine and no person shall be entitled to any rights or benefits or be under
any obligations under or in respect of this Scheme.

2.3     Reference in paragraph 2.1 to the Listing Committee of the Stock
Exchange formally granting the listing and permission referred to therein shall
include any such listing and permission which are granted subject to the
fulfilment of any condition precedent or condition subsequent.

2.4     A certificate of a Director that the conditions set out in paragraph 2.1
have been satisfied and the date on which such conditions were satisfied or that
such conditions have not been satisfied as of any particular date and the exact
date of the "Adoption Date" shall be conclusive evidence of the matters
certified.

3.      PURPOSE AND ADMINISTRATION

3.1     The purpose of this Scheme is to enable the Group to grant Options to
the Eligible Participants as incentives or rewards for their contribution to the
Group, to continue and/or render improved service with the Group, and/or to
establish a stronger business relationship between the Group and such
participants.

3.2     This Scheme shall be subject to the administration of the Directors
whose decision on all matters arising in relation to this Scheme or their
interpretation or effect shall (save for the grant of Options referred to in
paragraph 4.11 and the change of the terms of an Option referred to in paragraph
8.5 which shall be approved in the manner referred to therein and save as
otherwise provided herein) be final and binding on all persons who may be
affected thereby.

3.3     Subject to paragraphs 2 and 14, this Scheme shall be valid and effective
until the Termination Date, after which period no further Options may be issued
but the provisions of

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this Scheme shall remain in full force and effect to the extent necessary to
give effect to the exercise of any Options granted or exercised prior thereto or
otherwise as may be required in accordance with the provisions of this Scheme.

3.4     A Grantee shall ensure that the acceptance of an Offer, the holding and
exercise of his Option in accordance with this Scheme, the allotment and issue
of Shares to him upon the exercise of his Option and the holding of such Shares
are valid and comply with all laws, legislation and regulations including all
applicable exchange control, fiscal and other laws to which he is subject. The
Directors may, as a condition precedent of making an Offer and allotting Shares
upon an exercise of an Option, require an Eligible Participant to produce such
evidence as it may reasonably require for such purpose.

4.      GRANT OF OPTIONS

4.1     Subject to paragraphs 4.11 and 8, the Directors shall, in accordance
with the provisions of this Scheme, be entitled but shall not be bound at any
time within a period of ten (10) years commencing from the Adoption Date to make
an Offer to any person belonging to the following classes of participants to
subscribe, and no person other than the Eligible Participant named in such Offer
may subscribe for such number of Shares (being a board lot for dealings in the
Shares on the Stock Exchange or an integral multiple thereof) at such
Subscription Price as the Directors shall, subject to paragraph 9, determine:

        (a)     any Eligible Employee;

        (b)     any non-executive directors (including independent non-executive
                directors) of the Company, any Subsidiary or any Invested
                Entity;

        (c)     any supplier of goods or services to any member of the Group or
                any Invested Entity;

        (d)     any customer of any member of the Group or any Invested Entity;

        (e)     any person or entity that provides research, development or
                other technological support to any member of the Group or any
                Invested Entity;

        (f)     any shareholder of any member of the Group or any Invested
                Entity or any holder of any securities issued by any member of
                the Group or any Invested Entity;

        (g)     any other group or classes of participants contributing by way
                of joint venture, business alliance or other business
                arrangement to the development and growth of the Group; and

        (h)     for the purposes of this Scheme, any company wholly owned by any
                one or more persons belonging to any one or more of the above
                classes of Eligible Participants.

For the avoidance of doubt, the grant of any options by the Company for the
subscription of

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Shares or other securities of the Group to any person who falls within any of
the above classes of Eligible Participants shall not, by itself, unless the
Directors otherwise determine, be construed as a grant of Option under this
Scheme.

4.2     The eligibility of any of the Eligible Participants to an Offer shall be
determined by the Directors from time to time on the basis of their contribution
to the development and growth of the Group.

4.3     An Offer shall be made to an Eligible Participant in writing (and unless
so made shall be invalid) in such form as the Directors may from time to time
determine, either generally or on a case-by-case basis, specifying the number of
Shares and the Option Period in respect of which the Offer is made and further
requiring the Eligible Participant to undertake to hold the Option on the terms
on which it is to be granted and to be bound by the provisions of this Scheme
and shall remain open for acceptance by the Eligible Participant concerned (and
by no other person) for a period of up to 21 days from the Offer Date.

4.4     An Offer shall state, in addition to the matters specified in paragraph
4.3, the following:

        (a)     the name, address, position and company of the Eligible
                Participant;

        (b)     the number of Shares in respect of which the Offer is made and
                the Subscription Price for such Shares;

        (c)     the Option Period in respect of which the Offer is made or, as
                the case may be, the Option Period in respect of separate
                parcels of Shares comprised in the Offer;

        (d)     the last date by which the Offer must be accepted (which may not
                be later than 21 days from the Offer Date);

        (e)     the procedure for acceptance;

        (f)     the performance target(s) (if any) that must be attained by the
                Eligible Participant before any Option can be exercised;

        (g)     such other terms and conditions of the Offer as may be imposed
                by the Directors as are not inconsistent with this Scheme; and

        (h)     a statement requiring the Eligible Participant to undertake to
                hold the Option on the terms on which it is to be granted and to
                be bound by the provisions of this Scheme including, without
                limitation, the conditions specified in paragraphs 3.4, 6.1 and
                15.8 to 15.10, inclusive.

4.5     An Offer shall have been accepted by an Eligible Participant in respect
of all Shares which are offered to such Eligible Participant when the duplicate
letter comprising acceptance of the Offer duly signed by the Eligible
Participant together with a payment to the Company of HK$1.00 by way of
consideration for the grant thereof is received by the

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Company within such time as may be specified in the Offer (which shall not be
later than 21 days from the Offer Date). Such payment shall in no circumstances
be refundable.

4.6     Any Offer may be accepted by an Eligible Participant in respect of less
than the number of Shares which are offered provided that it is accepted in
respect of a board lot for dealing in the Shares on the Stock Exchange or an
integral multiple thereof (or if the number of Shares so indicated in the
duplicate letter is not an integral multiple of a board lot, the number shall be
deemed to be rounded down to the nearest integral number of a board lot) and
such number is clearly stated in the duplicate letter comprising acceptance of
the Offer duly signed by such Eligible Participant and received by the Company
together with a payment to the Company of HK$1.00 by way of consideration for
the grant thereof within such time as may be specified in the Offer (which may
not be later than 21 days from the Offer Date).

4.7     Upon an Offer being accepted by an Eligible Participant in whole or in
part in accordance with paragraph 4.5 or 4.6, an Option in respect of the number
of Shares in respect of which the Offer was so accepted will be deemed to have
been granted by the Company to such Eligible Participant on the date of such
acceptance. To the extent that the Offer is not accepted within the time
specified in the Offer in the manner indicated in paragraph 4.5 or 4.6, it will
be deemed to have been irrevocably declined.

4.8     The Option Period of an Option may not end later than ten (10) years
after the Offer Date of that Option.

4.9     The Options will not be listed or dealt in on the Stock Exchange.

4.10    For so long as the Shares are listed on the Stock Exchange:

        (a)     an Offer may not be made after a price sensitive event has
                occurred or a price sensitive matter has been the subject of a
                decision until such price sensitive information has been
                announced in accordance with the requirements of the Listing
                Rules. In particular, during the period commencing one month
                immediately preceding the earlier of:

                (i)     the date of the board meeting (as such date is first
                        notified to the Stock Exchange in accordance with the
                        Listing Rules) for the approval of the Company's results
                        for any year, half-year, quarterly or any other interim
                        period (whether or not required under the Listing
                        Rules); and

                (ii)    the last date on which the Company must publish an
                        announcement of its results for any year or half-year
                        under the Listing Rules, or quarterly or any other
                        interim period (whether or not required under the
                        Listing Rules),

                and ending on the date of the results announcement, no Offer may
                be made; and

        (b)     the Directors may not make any Offer to an Eligible Participant
                who is a

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                Director during the periods or times in which the Directors are
                prohibited from dealing in Shares pursuant to the Model Code for
                Securities Transactions by Directors of Listed Companies
                prescribed by the Listing Rules or any corresponding code of
                securities dealing restrictions adopted by the Company.

4.11    Without prejudice to paragraph 8.4, the making of an Offer to any
Director, chief executive or substantial shareholder of the Company, or any of
their respective associates must be approved by the independent non-executive
Directors (excluding any independent non-executive Director who or whose
associate is the proposed Grantee of an Option).

4.12    The Company shall include in its annual report a summary of the terms of
this Scheme and in its annual and half-year report information on the Options
granted, in each case in accordance with the requirements of the Listing Rules.

5.      SUBSCRIPTION PRICE

The Subscription Price in respect of any Option shall, subject to any
adjustments made pursuant to paragraph 9, be at the discretion of the Directors,
provided that it shall be not less than the highest of:

        (a)     the closing price of the Shares as stated in the Stock
                Exchange's daily quotations sheet for trade in one or more board
                lots of the Shares on the Offer Date; thereto

        (b)     the average closing price of the Shares as stated in the Stock
                Exchange's daily quotations sheets for trade in one or more
                board lots of the Shares for the five Business Days immediately
                preceding the Offer Date; and

        (c)     the nominal value of a Share.

For the purpose of calculating the Subscription Price where the Shares have been
listed for less than five Business Days, the new issue price shall be used as
the closing price for any Business Day falling within the period before listing.

6.      EXERCISE OF OPTIONS

6.1     An Option shall be personal to the Grantee and shall not be assignable
and no Grantee shall in any way sell, transfer, charge, mortgage, encumber or
otherwise dispose of or create any interest whatsoever in favour of any third
party over or in relation to any Option or enter into any agreement so to do
except for the transmission of an Option on the death of a Grantee to his
Personal Representative(s). Any breach of the foregoing by a Grantee shall
entitle the Company to cancel any Option granted to such Grantee to the extent
not already exercised.

6.2     Unless otherwise determined by the Directors and stated in the Offer to
a Grantee, a Grantee is not required to achieve any performance targets before
the exercise of an Option granted to him.

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6.3     Subject to paragraphs 3.4 and 15.8 and the fulfillment of all terms and
conditions set out in the Offer, including the attainment of any performance
targets stated therein, an Option shall be exercisable in whole or in part in
the circumstances and in the manner as set out in paragraphs 6.4 and 6.5 by
giving notice in writing to the Company stating that the Option is thereby
exercised and the number of Shares in respect of which it is so exercised
(which, except where the number of Shares in respect of which the Option remains
unexercised is less than one board lot or where the Option is exercised in full,
must be for a board lot for dealings in Shares on the Stock Exchange or an
integral multiple thereof). Each such notice must be accompanied by a payment
for the full amount of the Subscription Price for Shares in respect of which the
notice is given. Within 21 days (7 days in the case of an exercise pursuant to
paragraph 6.4(c)) after receipt of the notice, the Company shall accordingly
allot the relevant number of Shares to the Grantee (or, in the event of an
exercise of Option by a Personal Representative pursuant to paragraph 6.4(a), to
the estate of the Grantee) fully paid and issue to the Grantee (or his estate in
the event of an exercise by his Personal Representative as aforesaid) a share
certificate for every board lot of Shares so allotted and a share certificate
for the balance (if any) of the Shares so allotted which do not constitute a
board lot.

6.4     Subject as hereinafter provided, an Option may (and may only) be
exercised by the Grantee at any time or times during the Option Period provided
that:

        (a)     if the Grantee is an Eligible Employee and in the event of his
                ceasing to be an Eligible Employee by reason of his death,
                ill-health or retirement in accordance with his contract of
                employment before exercising the Option in full, his Personal
                Representative(s) or, as appropriate, the Grantee may exercise
                the Option (to the extent not already exercised) in whole or in
                part in accordance with the provisions of paragraph 6.3 within a
                period of 12 months following the date of cessation of
                employment which date shall be the last day on which the Grantee
                was at work with the Company or the relevant Subsidiary or the
                Invested Entity whether salary is paid in lieu of notice or not,
                or such longer period as the Directors may determine or, if any
                of the events referred to in paragraph 6.4(c) or 6.4(d) occur
                during such period, exercise the Option pursuant to paragraph
                6.4(c) or 6.4(d) respectively;

        (b)     if the Grantee is an Eligible Employee and in the event of his
                ceasing to be an Eligible Employee for any reason other than his
                death, ill-health or retirement in accordance with his contract
                of employment or the termination of his employment on one or
                more of the grounds specified in paragraph 7.1(c) before
                exercising the Option in full, the Grantee may exercise the
                Option (to the extent not already exercised) in whole or in part
                in accordance with the provisions of paragraph 6.3 within a
                period of 30 days or such longer period as the Directors may
                determine following the date of such cessation or termination
                or, if any of the events referred to in sub-paragraph 6.4(c) or
                6.4(d) occur during such period, exercise the Option pursuant to
                paragraph 6.4(c) or 6.4(d) respectively. The date of cessation
                or termination as aforesaid shall be the last day on which the
                Grantee was actually at work with the Company or the relevant
                Subsidiary or the Invested Entity whether salary

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                is paid in lieu of notice or not;

        (c)     if a general or partial offer, whether by way of take-over
                offer, share repurchase offer, or scheme of arrangement or
                otherwise in like manner is made to all the holders of the
                Shares, or all such holders other than the offeror and/or any
                person controlled by the offeror and/or any person acting in
                association or concert with the offeror, the Company shall use
                all reasonable endeavours to procure that such offer is extended
                to all the Grantees on the same terms, mutatis mutandis, and
                assuming that they will become, by the exercise in full of the
                Options granted to them, shareholders of the Company. If such
                offer becomes or is declared unconditional or such scheme of
                arrangement is formally proposed to shareholders in the Company,
                the Grantee shall, notwithstanding any other terms on which his
                Options were granted (provided that any condition stated in the
                Offer pursuant to paragraph 4.4(f) must first be satisfied), be
                entitled to exercise the Option (to the extent not already
                exercised) to its full extent or to the extent specified in the
                Grantee's notice to the Company in accordance with the
                provisions of paragraph 6.3 at any time thereafter and up to the
                close of such offer (or any revised offer) or the record date
                for entitlements under scheme of arrangement, as the case may
                be. Subject to the above, an option (to the extent not already
                exercised) will lapse automatically on the date on which such
                offer (or, as the case may be, revised offer), closes; and

        (d)     in the event of an effective resolution being proposed for the
                voluntary winding-up of the Company during the Option Period,
                the Grantee may, subject to the provisions of all applicable
                laws, by notice in writing to the Company at any time prior to
                the date on which such resolution is passed, exercise his Option
                (to the extent not already exercised) either to its full extent
                or to the extent specified in such notice in accordance with the
                provisions of paragraph 6.3 and shall accordingly be entitled,
                in respect of the Shares falling to be allotted and issued upon
                the exercise of his Option, to participate in the distribution
                of the assets of the Company available in liquidation pari passu
                with the holders of the Shares in issue on the day prior to the
                date of such resolution.

6.5     Shares to be allotted and issued upon the exercise of an Option will be
subject to all the provisions of the Articles of Association of the Company for
the time being in force and will, subject to the completion of the registration
referred to below, rank pari passu in all respects with the then existing fully
paid Shares in issue on the date on which the Option is duly exercised or, if
that date falls on a day when the register of members of the Company is closed,
the first day of the re-opening of the register of members ("Exercise Date") and
accordingly will entitle the holders thereof to participate in all dividends or
other distributions paid or made on or after the Exercise Date other than any
dividend or other distribution previously declared or recommended or resolved to
be paid or made if the record date therefor shall be before the Exercise Date. A
Share allotted and issued upon the exercise of an Option shall not carry voting
rights until the name of the Grantee has been duly entered on the register of
members of the Company as the holder thereof.

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7.      EARLY TERMINATION OF OPTION PERIOD

7.1     The Option Period in respect of any Option shall automatically terminate
and that Option (to the extent not already exercised) shall lapse on the
earliest of:

        (a)     the expiry of the Option Period;

        (b)     the expiry of any of the periods referred to in paragraph 6.4;

        (c)     unless the Directors otherwise resolve in their absolute
                discretion, in respect of a Grantee who is an Eligible Employee,
                the date on which the Grantee ceases to be an Eligible Employee
                by reason of a termination of his employment on the grounds that
                he has been guilty of persistent or serious misconduct, or has
                committed any act of bankruptcy or has become insolvent or has
                made any arrangement or composition with his creditors
                generally, or has been convicted of any criminal offence (other
                than an offence which in the opinion of the Directors does not
                bring the Grantee or the Group or the Invested Entity into
                disrepute), or on any other ground which his employer would be
                entitled to terminate his contract of employment by summary
                dismissal;

        (d)     in respect of a Grantee other than an Eligible Employee, the
                date on which the Directors shall at their absolute discretion
                determine that (i) the Grantee or his associate has committed
                any breach of any contract entered into between the Grantee or
                his associate on the one part and the Group or any Invested
                Entity on the other part or that the Grantee has committed any
                act of bankruptcy or has become insolvent or is subject to any
                winding-up, liquidation or analogous proceedings or has made any
                arrangement or composition with his creditors generally; and
                (ii) the Option shall lapse; and

        (e)     the date on which the Directors shall exercise the Company's
                right to cancel the Option by reason of a breach of paragraph
                6.1 by the Grantee in respect of that or any other Option.

7.2     A resolution of the Directors to the effect that the employment of a
Grantee has or has not been terminated on one or more of the grounds specified
in paragraph 7.1(c) or that any event referred to in paragraph 7.1(d)(i) has
occurred shall be conclusive.

8.      MAXIMUM NUMBER OF SHARES AVAILABLE FOR SUBSCRIPTION

8.1     The maximum number of Shares which may be allotted and issued upon
exercise of all outstanding Options granted and yet to be exercised under this
Scheme and any other share option schemes adopted by the Group shall not exceed
30 per cent. of the relevant class of securities of the Company (or the
Subsidiary) in issue from time to time. The maximum number of Shares the subject
of all Options shall include all Shares falling to be issued upon the exercise
of any Option by any Grantee (to the extent not already exercised) together with
all Shares which have already been issued pursuant to the exercise of any
Option, including options granted under any other employee share option schemes
of the Group. No options

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may be granted under this Scheme or any other share option scheme adopted by the
Group if the grant of such option will result in the limit referred to in this
paragraph 8.1 being exceeded.

8.2     The total number of Shares which may be allotted and issued upon
exercise of all Options (excluding, for this purpose, options which have lapsed
in accordance with the terms of this Scheme and any other share option scheme of
the Group) to be granted under this Scheme and any other share option scheme of
the Group must not in aggregate exceed 10 per cent. of relevant class of
securities of the Company (or the Subsidiary) in issue as at the date on which
the Shares are first listed and from which dealings therein are permitted to
take place on the Stock Exchange ("General Scheme Limit") provided that:

        (a)     subject to paragraph 8.1 and without prejudice to paragraph
                8.2(b), the Company may, in compliance with paragraph 8.6, seek
                approval of its shareholders in general meeting to refresh the
                General Scheme Limit provided that the total number of Shares
                which may be allotted and issued upon exercise of all Options to
                be granted under this Scheme and any other share option scheme
                of the Group must not exceed 10 per cent. of the relevant class
                of securities of the Company (or the Subsidiary) in issue as at
                the date of approval of the limit and for the purpose of
                calculating the limit, options (including those outstanding,
                cancelled, lapsed or exercised in accordance with this Scheme
                and any other share option scheme of the Group) previously
                granted under this Scheme and any other share option scheme of
                the Group will not be counted; and

        (b)     subject to paragraph 8.1 and without prejudice to paragraph
                8.2(a), the Company may, in compliance with paragraph 8.6, seek
                separate shareholders' approval in general meeting to grant
                Options under this Scheme beyond the General Scheme Limit or, if
                applicable, the extended limit referred to in paragraph 8.2(a)
                to Eligible Participants specifically identified by the Company
                before such approval is sought.

8.3     Subject to paragraph 8.4, the total number of Shares issued and which
may fall to be issued upon exercise of the Options and the options granted under
any other share option scheme of the Group (including both exercised or
outstanding options) to each Grantee in any 12-month period shall not exceed one
(1) per cent. of the issued share capital of the Company for the time being.
Where any further grant of Options to a Grantee under this Scheme would result
in the Shares issued and to be issued upon exercise of all options granted and
proposed to be granted to such person (including exercised, cancelled and
outstanding options) under this Scheme and any other share option schemes of the
Group in the 12-month period up to and including the date of such further grant
representing in aggregate over one (1) per cent. of the Shares in issue, such
further grant must, subject to paragraph 8.6, be separately approved by
shareholders of the Company in general meeting with such Grantee and his
associates abstaining from voting. The number and terms (including the
Subscription Price) of the Options to be granted (and Options previously granted
to such Grantee) must be fixed before the approval of the shareholders of the
Company and the date of the meeting of the Directors proposing such further
grant should be taken as the date of grant for the purpose of calculating the
Subscription Price.

                                     - 12 -

<PAGE>

8.4     Without prejudice to paragraph 4.11 and subject to paragraph 8.6, where
any grant of Options to a substantial shareholder or an independent
non-executive Director, or any of their respective associates, would result in
the Shares issued and to be issued upon exercise of all options already granted
and to be granted (including options exercised, cancelled and outstanding) to
such person in the 12-month period up to and including the date of such grant:

        (a)     representing in aggregate over 0.1 per cent. of the Shares in
                issue; and

        (b)     having an aggregate value, based on the closing price of the
                Shares at the Offer Date of each Offer, in excess of HK$5
                million;

such further grant of Options must be approved by shareholders of the Company in
general meeting.

8.5     Any change in the terms of an Option granted to any Grantee who is a
substantial shareholder or an independent non-executive director of the Company,
or any of their respective associates, must, subject to paragraph 8.6, be
approved by shareholders of the Company in general meeting.

8.6     For the purpose of seeking the approval of the shareholders of the
Company under paragraphs 8.2, 8.3, 8.4 and 8.5, the Company shall send a
circular to the shareholders containing the information required under the
Listing Rules and where the Listing Rules shall so require, the vote at the
shareholders' meeting convened to obtain the requisite approval shall be taken
on a poll with the following persons abstaining from voting:

        (a)     in the case of a further grant of Option under paragraph 8.3,
                the proposed Grantee and his associates; and

        (b)     in the case of a grant of Option under paragraph 8.4 and/or any
                proposed change in the terms of an Option granted as referred to
                in paragraph 8.5, all connected persons of the Company, except
                that any connected person must abstain from voting in favour at
                the general meeting.

9.      ADJUSTMENTS TO THE SUBSCRIPTION PRICE

9.1     In the event of any alteration in the capital structure of the Company
whilst any Option remains exercisable or this Scheme remains in effect, and such
event arises from a capitalisation of profits or reserves, rights issue of
securities to holders of the Shares (including any securities convertible into
share capital or warrants or options to subscribe for any share capital of the
Company, but excluding Options under this Scheme and options under any other
similar share option scheme of the Group), consolidation, subdivision or
reduction of the share capital of the Company, then, in any such case the
Company shall make an adjustment, if any, to:

        (a)     the number or nominal amount of Shares to which this Scheme or
                any Option(s) relates (insofar as it is/they are unexercised);
                and/or

                                     - 13 -

<PAGE>

        (b)     the Subscription Price of any Option; and/or

        (c)     (unless the relevant Grantee elects to waive such adjustment)
                the number of Shares comprised in an Option or which remain
                comprised in an Option; and/or

        (d)     the method of exercise of any Option; and/or

        (e)     the maximum number of Shares referred to in paragraph 8 above,

        provided that:

        (aa)    any such adjustment shall give the Grantee the same proportion
                of the issued share capital of the Company for which such
                Grantee would have been entitled to subscribe had he exercised
                all the Options held by him immediately prior to such
                adjustment;

        (bb)    any such adjustment shall be made on the basis that the
                aggregate Subscription Price payable by a Grantee on the full
                exercise of any Option shall remain as nearly as possible the
                same (but shall not be greater than) as it was before such
                event;

        (cc)    no such adjustment shall be made the effect of which would be to
                enable a Share to be issued at less than its nominal value;

        (dd)    the issue of Shares or other securities of the Group as
                consideration in a transaction shall not be regarded as a
                circumstance requiring any such adjustment.

In respect of any adjustment referred to in this paragraph 9.1, other than any
made on a capitalisation issue, the Auditors or such independent financial
adviser must confirm to the Directors in writing that the adjustments satisfy
the requirements of the relevant provisions of the Listing Rules.

9.2     If there has been any alteration in the capital structure of the Company
as referred to in paragraph 9.1, the Company shall, upon receipt of a notice
from a Grantee in accordance with paragraph 6.3, inform the Grantee of such
alteration and shall inform the Grantee of the adjustment to be made.

9.3     In giving any confirmation under this paragraph 9, the Auditors or the
independent financial adviser appointed under paragraph 9.1 shall be deemed to
be acting as experts and not as arbitrators and their confirmation shall, in the
absence of manifest error, be final, conclusive and binding on the Company and
all persons who may be affected thereby.

10.     CANCELLATION OF OPTIONS

10.1    Subject to paragraph 6.1, any Option granted but not exercised may not
        be cancelled

                                     - 14 -

<PAGE>

except with the written consent of the relevant grantee and the prior approval
of the Directors at their absolute discretion.

10.2    Where the Company cancels any Option granted to a Grantee but not
        exercised and issues new Option(s) to the same Grantee, the issue of
        such new Option(s) may only be made with available unissued Options
        (excluding, for this purpose, the Options so cancelled) within the
        General Scheme Limit or the limits approved by the shareholders of the
        Company pursuant to paragraph 8.2(a) or 8.2(b).

11.     SHARE CAPITAL

The exercise of any Option shall be subject to the members of the Company in
general meeting approving any necessary increase in the authorised share capital
of the Company. Subject thereto, the Directors shall make available sufficient
authorised but unissued share capital of the Company to allot the Shares on the
exercise of any Option.

12.     DISPUTES

Any dispute arising in connection with the number of Shares the subject of an
Option, or any adjustment under paragraph 9.1 shall be referred to the decision
of the Auditors who shall act as experts and not as arbitrators and whose
decision shall, in the absence of manifest error, be final, conclusive and
binding on all persons who may be affected thereby.

13.     ALTERATION OF THIS SCHEME

13.1    Subject to paragraphs 13.2 and 13.4 this Scheme may be altered in any
        respect by a resolution of the Directors except that:

        (a)     the provisions of this Scheme as to the definitions of "Eligible
                Participants", "Grantee", "Option Period" and "Termination Date"
                set out in paragraph 1.1;

        (b)     the provisions of this Scheme relating to the matters governed
                by Rule 17.03 of the Listing Rules;

shall not be altered to the advantage of Grantees or prospective Grantees except
with the prior sanction of a resolution of the Company in general meeting,
provided that no such alteration shall operate to affect adversely the terms of
issue of any Option granted or agreed to be granted prior to such alteration
except with the consent or sanction of such majority of the Grantees as would be
required of the holders of the Shares under the Articles of Association for the
time being of the Company for a variation of the rights attached to the Shares.

13.2    Subject to paragraph 13.3, any alterations to the terms and conditions
of this Scheme which are of a material nature shall be approved by the
shareholders of the Company except where the alterations take effect
automatically under the existing terms of this Scheme.

13.3    Any change to the authority of the Directors or the administrators of
this Scheme in relation to any alteration to the terms of this Scheme must be
approved by the shareholders

                                     - 15 -

<PAGE>

of the Company in general meeting.

13.4    The terms of this Scheme and/or any Options amended pursuant to this
paragraph 13 must comply with the applicable requirements of the Listing Rules.

14.     TERMINATION

The Company by resolution in general meeting may at any time terminate the
operation of this Scheme and in such event no further Options will be offered
but in all other respects the provisions of this Scheme shall remain in force to
the extent necessary to give effect to the exercise of any Options (to the
extent not already exercised) granted prior thereto or otherwise as may be
required in accordance with the provisions of this Scheme and Options (to the
extent not already exercised) granted prior to such termination shall continue
to be valid and exercisable in accordance with this scheme.

15.     MISCELLANEOUS

15.1    This Scheme shall not form part of any contract of employment between
the Company, any Subsidiary or any Invested Entity and any Eligible Employee and
the rights and obligations of any Eligible Employee under the terms of his
office or employment shall not be affected by his participation in this Scheme
or any right which he may have to participate in it and this Scheme shall afford
such an Eligible Employee no additional rights to compensation or damages in
consequence of the termination of such office or employment for any reason.

15.2    This Scheme shall not confer on any person any legal or equitable rights
(other than those constituting the Options themselves) against the Company
directly or indirectly or give rise to any cause of action at law or in equity
against the Company.

15.3    The Company shall bear the costs of establishing and administering this
Scheme, including any costs of the Auditors or any independent financial adviser
in relation to the preparation of any confirmation by them or provision of any
other service in relation to this Scheme.

15.4    A Grantee shall be entitled to receive copies of all notices and other
documents sent by the Company to holders of the Shares at the same time or
within a reasonable time of any such notices or documents being sent to holders
of Shares.

15.5    Any notice or other communication between the Company and a Grantee may
be given by sending the same by prepaid post or by personal delivery to, in the
case of the Company, its principal place of business in Hong Kong and, in the
case of the Grantee, his address in Hong Kong as notified to the Company from
time to time or, if none or incorrect or out of date, his last place of
employment with the Company, Subsidiary or Invested Entity or the Company's,
Subsidiary's or Invested Entity's principal place of business in Hong Kong from
time to time.

15.6    Any notice or other communication if sent by the Grantee shall be
irrevocable and shall not be effective until actually received by the Company.

                                     - 16 -

<PAGE>

15.7    Any notice or other communication if sent to the Grantee shall be deemed
to be given or made:

        (a)     one (1) day after the date of posting, if sent by mail; and

        (b)     when delivered, if delivered by hand.

15.8    A Grantee shall, before accepting an Offer or exercising his Option,
obtain all necessary consents that may be required to enable him to accept the
Offer or to exercise the Option and the Company to allot and issue to him in
accordance with the provisions of this Scheme the Shares falling to be allotted
and issued upon the exercise of his Option. By accepting an Offer or exercising
his Option, the Grantee thereof is deemed to have represented to the Company
that he has obtained all such consents. Compliance with this paragraph shall be
a condition precedent to an acceptance of an Offer by a Grantee and an exercise
by a Grantee of his Options.

15.9    A Grantee shall pay all tax and discharge all other liabilities to which
he may become subject as a result of his participation in this Scheme or the
exercise of any Option.

15.10   By accepting an Offer, an Eligible Participant shall be deemed
irrevocably to have waived any entitlement, by way of compensation for loss of
office or otherwise howsoever, to any sum or other benefit to compensate him for
loss of any rights under this Scheme.

15.11   Where these Rules require matters to be approved by the shareholders or
independent non-executive Director of the Company, such matters must be
simultaneously be approved by the shareholders or independent non-executive
directors of Hutchison Whampoa Limited where such approval by the shareholders
or independent non-executive directors of Hutchison Whampoa Limited is required
under Chapter 17 of the Listing Rules.

15.12   This Scheme and all Options granted hereunder shall be governed by and
construed in accordance with the laws of Hong Kong.

                          * * * END OF THE SCHEME * * *

                                     - 17 -<PAGE>

                                                                   EXHIBIT 10.72

                             Dated 24 September 2004

                           HTI (1993) Holdings Limited
             (a company incorporated in the British Virgin Islands)

                         Hutchison Telecom (BVI) Limited
             (a company incorporated in the British Virgin Islands)

                            Hutchison Whampoa Limited
                      (a company incorporated in Hong Kong)

                           ETH PASS THROUGH AGREEMENT

[GRAPHIC OMITTED]

10th Floor, Alexandra House
Chater Road
Hong Kong

Telephone (852) 2842 4888
Facsimile (852) 2810 8133/2810 1695

Ref L-069967

<PAGE>

This Agreement is made on 24 September 2004 between

(1)     HTI (1993) HOLDINGS LIMITED, formerly named Hutchison Telecommunications
        International Limited, a company incorporated in the British Virgin
        Islands ("Transferor");

(2)     HUTCHISON TELECOM (BVI) LIMITED, a company incorporated in the British
        Virgin Islands ("Transferee"); and

(3)     HUTCHISON WHAMPOA LIMITED, a company incorporated in Hong Kong ("HWL").

BACKGROUND
(A)     The Transferor wishes to pass through to the Transferee the benefit of
        all of the Relevant Termsheet Rights and the burden of all of the
        Relevant Termsheet Obligations.

(B)     The Transferee has agreed to accept the benefit of all of the Relevant
        Termsheet Rights and the burden of all of the Relevant Termsheet
        Obligations.

(C)     The Transferor and the Transferee have entered into this Agreement to
        set out the terms of the pass through of such Relevant Termsheet Rights
        and Relevant Termsheet Obligations.

(D)     Pursuant to its obligations under the Termsheet, the Transferor has
        procured the provision by HWL of the Guarantees.

(E)     The Transferee has agreed to indemnify HWL against any loss it may incur
        as a result of it being obliged to make any payment under the
        Guarantees.

(F)     As consideration for the Transferee agreeing to indemnify HWL against
        losses incurred under the Guarantees, HWL has agreed to pass on to the
        Transferee the benefit of the Subrogation Agreement Rights.

1       DEFINITIONS AND INTERPRETATION

1.1     Definitions: In this Agreement, the words and expressions set out below
        shall, unless the context otherwise requires, have the meanings
        attributed to them below:

        "Agreement" means this agreement including the Schedule hereto, as the
        same may be amended or supplemented from time to time.

        "BL" means Bayerische Landesbank, Hong Kong Branch.

        "BL Facility Agreement" means the US$36,200,000 standby letter of credit
        facility agreement dated 16 December 2003 between BL and ETH.

        "BL Guarantee" means the guarantee dated 19 December 2003 issued by HWL
        in favour of BL in relation to the BL Facility Agreement.

        "BL Subrogation Agreement" means the subrogation agreement dated 19
        December 2003 between ETH, GE Capital Services India Limited, BL and
        HWL.

        "CL" means CALYON, Hong Kong Branch.

        "CL Facility Agreement" means the US$217,000,000 standby letter of
        credit facility agreement dated 25 June 2004 between CL and ETH.

                                        1

<PAGE>

        "CL Guarantee" means the guarantee dated 25 June 2004 issued by HWL in
        favour of CL in relation to the CL Facility Agreement.

        "CL Subrogation Agreement" means the subrogation agreement dated 25 June
        2004 between ETH, GE Capital Services India Limited, CL and HWL.

        "Confidential Information" has the meaning set out in Clause 9.1.

        "Effective Date" has the meaning set out in Clause 2.2.

        "ETH" means Essar Teleholdings Limited.

        "Facility Agreements" means the BL Facility Agreement and the CL
        Facility Agreement.

        "Guarantee" means the BL Guarantee and the CL Guarantee.

        "Hong Kong" means the Hong Kong Special Administrative Region of the
        People's Republic of China.

        "Listings" means the listing of securities in Hutchison
        Telecommunications International Limited, a company incorporated in the
        Cayman Islands, on the Stock Exchange of Hong Kong and/or the New York
        Stock Exchange.

        "New York Stock Exchange" means New York Stock Exchange, Inc.

        "Relevant Termsheet Obligations" means the obligations of the Transferor
        under the Termsheet which have not expired or been satisfied as at the
        date of this Agreement, the principal terms of which are set out in the
        Schedule.

        "Relevant Termsheet Rights" means the rights, title, interest and
        benefit of the Transferor accruing under the Termsheet from the date of
        this Agreement, including all claims, proceeds of any claims, awards,
        judgments and all moneys which may at any time be paid or become payable
        to the Transferor under or in respect of the Termsheet, the principal
        terms of which are set out in the Schedule.

        "SEC" means the US Securities and Exchange Commission.

        "SFC" means the Securities and Futures Commission in Hong Kong.

        "Stock Exchange of Hong Kong" means The Stock Exchange of Hong Kong
        Limited.

        "Subrogation Agreements" means the BL Subrogation Agreement and the CL
        Subrogation Agreement.

        "Subrogation Agreement Rights" means the rights of HWL against ETH under
        the Subrogation Agreements.

        "Termsheet" means the termsheet dated 5 July 2003 between the
        Transferor, ETH and Usha Martin Telematics Limited.

1.2     CONSTRUCTION

        1.2.1   Any reference in this Agreement to:

                (i)     a "Clause" or a "Schedule" is a reference to a Clause or
                        Schedule of this Agreement.

                (ii)    "law" includes common or customary law and any
                        constitution, decree, judgment, legislation, order,
                        ordinance, regulation, statute, treaty or other

                                        2

<PAGE>

                        legislative measure, in each case wherever made (and
                        "lawful" shall be construed accordingly).

                (iii)   a "person" includes any person, firm, company,
                        corporation, government state or agency of a state or
                        any association, trust or partnership (whether or not
                        having separate legal personality) or two or more of the
                        foregoing;

                (iv)    a "regulation" includes any regulation, rule, official
                        directive, request or guideline (whether or not having
                        the force of law) of any governmental, intergovernmental
                        or supranational body, agency, department or regulatory,
                        self-regulatory or other authority or organisation.

        1.2.2   Clause headings are for ease of reference only.

2       EFFECTIVE DATE

2.1     Subject to Clause 2.2, this Agreement shall become effective from the
        date it is signed by all the parties.

2.2     Clauses 3 to 8 (inclusive) shall only become effective upon the first
        date (the "Effective Date") upon which all of the following events have
        occurred:

        2.2.1   this Agreement has been validly signed by all the parties; and

        2.2.2   the Listings.

3       NOVATION OF TERMSHEET

3.1     CONSENT TO NOVATION

        If instructed by the Transferee in writing, the Transferor shall take
        such action as the Transferee may reasonably request and shall use
        reasonable endeavours to procure the agreement of all counterparties to
        the Termsheet to the novation of the Termsheet in favour of the
        Transferee and the substitution of the Transferee for the Transferor as
        a party to the Termsheet.

3.2     EXECUTION OF DOCUMENTS

        If all relevant counterparties consent to a novation pursuant to Clause
        3.1 (Consent to novation) above, the Transferor and the Transferee shall
        execute such documentation as is necessary so as to effect that
        novation.

4       PASS THROUGH OF RELEVANT TERMSHEET RIGHTS AND RELEVANT TERMSHEET
        OBLIGATIONS

        Prior to the novation of the Termsheet pursuant to Clause 3.2 (Execution
        of documents) above:

4.1     the Transferee shall (insofar as it may lawfully do so) perform the
        Relevant Termsheet Obligations or take such action as is necessary to
        enable the Transferor to perform the Relevant Termsheet Obligations;

4.2     the Transferor shall (insofar as it may lawfully do so and provided it
        is reasonable and practicable to do so) act under the direction of the
        Transferee in all matters relating to the Termsheet;

                                        3

<PAGE>

4.3     the Transferor shall co-operate in any reasonable arrangements proposed
        by the Transferee designed to enable the Transferee to enjoy the benefit
        of the Relevant Termsheet Rights, including enforcement, at the cost of
        and for the account of the Transferee, of all rights of the Transferor
        against the other parties to the Termsheet; and

4.4     the Transferor shall hold the Relevant Termsheet Rights on trust for the
        Transferee absolutely and shall account to the Transferee for any sums
        or other benefits received by the Transferor in relation to the
        Termsheet immediately upon identification that such sums or benefits are
        due to the Transferee.

5       FORM OF DOCUMENTS

5.1     The Transferor represents to the Transferee that the contents of the
        Schedule represent a fair and accurate summary of the principal terms of
        the Relevant Termsheet Rights and the Relevant Termsheet Obligations as
        at the date of this Agreement.

5.2     The Transferor covenants in favour of the Transferee that it shall not
        agree to any amendment to (including, without limitation, any waiver or
        forbearance of) the Termsheet, the Relevant Termsheet Rights or the
        Relevant Termsheet Obligations without the prior written consent of the
        Transferee, such consent not to be unreasonably withheld or delayed.

5.3     HWL represents to the Transferee that the copies of the Subrogation
        Agreements and the Facility Agreements provided by HWL to the Transferee
        on or before the date of this Agreement are true and up to date copies
        as at the date of this Agreement.

5.4     HWL covenants in favour of the Transferee that it shall not agree to any
        amendment to (including, without limitation, any waiver or forbearance
        of) the Subrogation Agreements or the Facility Agreements without the
        prior written consent of the Transferee, such consent not to be
        unreasonably withheld or delayed.

6       INDEMNITIES IN RELATION TO GUARANTEES

6.1     For valuable consideration, the sufficiency of which the Transferee
        hereby acknowledges, the Transferee unconditionally and irrevocably
        agrees to indemnify HWL against any and all payments, actions, claims,
        demands, suits, proceedings, losses, liabilities, damages, penalties,
        costs, charges and expenses of whatever nature which may result or which
        it may sustain, suffer or incur in connection with or arising in any way
        whatsoever out of its acting as guarantor under a Guarantee, and to pay
        to HWL forthwith on demand all moneys and liabilities whatsoever which
        may from time to time be claimed or demanded from HWL or which it shall
        pay or become liable to pay or sustain, suffer or incur under or by
        reason of or in connection with the relevant Guarantee.

6.2     HWL is hereby further irrevocably authorised and empowered to pay
        immediately any amounts demanded from HWL or which HWL from time to time
        becomes liable to pay under or by reason of or in connection with a
        Guarantee without any reference to or further authority from the
        Transferee. Any request or demand received by HWL in connection with a
        Guarantee shall constitute conclusive evidence as between the Transferee
        and HWL that HWL's liability under that Guarantee has accrued and shall
        constitute conclusive authority by the Transferee to HWL for making any
        payment requested or demanded. The Transferee shall be bound and liable
        to HWL therefore and HWL shall be at liberty to make such payment
        without being under any duty to enquire whether any request or demand on
        HWL has been properly made, irrespective of notice or knowledge of
        dispute or denial of

                                        4

<PAGE>

        the validity of any such request or demand, and the Transferee shall not
        be entitled to deny or challenge HWL's authority in the making of such
        payment nor to set up any defence of any nature whatsoever.

7       PASS THROUGH OF SUBROGATION AGREEMENT RIGHTS

        Provided the Transferee has indemnified HWL and paid to HWL all amounts
        demanded by HWL in each case under Clause 6 above, HWL agrees that it
        shall:

7.1     insofar as it may lawfully do so and provided it is reasonable and
        practicable to do so, act under the direction of the Transferee in all
        matters relating to the Subrogation Agreements;

7.2     co-operate in any reasonable arrangements proposed by the Transferee
        designed to enable the Transferee to enjoy the benefit of the
        Subrogation Agreement Rights, including enforcement, at the cost of and
        for the account of the Transferee, of all rights of HWL against the
        other parties to the Subrogation Agreements; and

7.3     hold the Subrogation Agreement Rights on trust for the Transferee
        absolutely and shall account to the Transferee for any sums or other
        benefits received by HWL in relation to the Subrogation Agreements
        immediately upon identification that such sums or benefits are due to
        the Transferee.

8       FURTHER INDEMNITIES

8.1     HWL agrees to indemnify the Transferee for any loss, cost or expense
        incurred by the Transferee as a result of a breach by HWL of its
        obligations under this Agreement, except to the extent that the
        Transferee incurs such loss, cost or expense as a result of its gross
        negligence or wilful misconduct.

8.2     The Transferee agrees to indemnify HWL for any loss, cost or expense
        incurred by HWL in the performance of its obligations under this
        Agreement, except to the extent that HWL incurs such loss, cost or
        expense as a result of a breach by HWL of its obligations under this
        Agreement or HWL's gross negligence or wilful misconduct.

8.3     The Transferee agrees to indemnify the Transferor for any loss, cost or
        expense incurred by the Transferor in relation to the Termsheet and/or
        in the performance of its obligations under this Agreement, except to
        the extent that the Transferor incurs such loss, cost or expense as a
        result of a breach by the Transferor of its obligations under this
        Agreement or the Transferor's gross negligence or wilful misconduct.

8.4     The Transferor agrees to indemnify the Transferee for any loss, cost or
        expense incurred by the Transferee as a result of a breach by the
        Transferor of its obligations under this Agreement, except to the extent
        that the Transferee incurs such loss, cost or expense as a result of its
        gross negligence or wilful misconduct.

9       CONFIDENTIALITY

9.1     Each party undertakes that it shall not reveal, and shall cause its
        directors, senior executives, employees and agents not to reveal, to any
        third party any information concerning the transactions contemplated
        hereunder and/or the contents hereof (collectively, "Confidential
        Information") without the prior written approval of the other parties
        hereto, except in respect of any disclosure made in any public offering
        document in connection with the Listings.

                                        5

<PAGE>

9.2     Nothing in this Clause shall prevent a party hereto from using or
        disclosing any Confidential Information which (a) is already known by
        such party at the time it is disclosed to it; (b) has been rightfully
        received by such party from a third party without a breach of an
        obligation of confidentiality; (c) is in the public domain through no
        wrongful act of such party; (d) is independently developed by such party
        without use, directly or indirectly, of the Confidential Information; or
        (e) subject to Clauses 9.3 to 9.5 below, is required to be disclosed by
        applicable law, regulation or legal process or by judicial order.

9.3     Notwithstanding anything contained in this Agreement, each party
        acknowledges and agrees that the other parties may be required by law or
        any competent regulatory body (including but without limitation the
        Stock Exchange of Hong Kong, the SFC, the New York Stock Exchange and
        the SEC) to issue time sensitive and urgent announcements relating to
        this Agreement or matters contemplated under this Agreement. Each party
        may, if and when the time frame prescribed by the relevant competent
        regulatory body does not reasonably and practically allow the seeking of
        consent of the other parties, issue such time sensitive and urgent
        announcements without the consent of the other parties but shall procure
        to be provided to the other parties drafts of such time sensitive and/or
        urgent announcements, and shall consider in good faith any comments
        provided to it by the other parties to the extent reasonably practicable
        within the time frame stipulated by the relevant competent regulatory
        body.

9.4     Subject to Clause 9.3 above, each party acknowledges and agrees that the
        other party may make announcements (save and except those referred to in
        Clause 9.3) and/or press releases relating to this Agreement or matters
        contemplated under this Agreement on or after the date of this
        Agreement, provided that the contents of such announcement or press
        release are agreed and approved prior to its issuance by the other party
        (which approval shall not be unreasonably withheld or delayed and shall
        be given as soon as practicable). Each party shall procure to be
        provided to the other parties each draft of such relevant announcement
        or press release and if the other parties do not revert to the other
        parties within a reasonable period of time from the receipt of the
        aforesaid announcement or press release, such party shall be deemed to
        have approved the contents of the said announcement or press release for
        the above purpose.

9.5     For the avoidance of doubt and notwithstanding anything contained
        herein, any circular required to be issued and dispatched by a party to
        this Agreement by law or any competent regulatory body (including but
        without limitation the Stock Exchange of Hong Kong, the SFC, the New
        York Stock Exchange and the SEC) to the extent it relates to the
        involvement of the other parties under this Agreement are subject to the
        other parties' prior approval, such approval shall not be unreasonably
        withheld or delayed and shall be given as soon as practicable.

10      COSTS AND EXPENSES

        Each party shall bear its own costs and expenses in connection with its
        entry into this Agreement.

11      PARTIAL INVALIDITY

        If, at any time, any provision of this Agreement is or becomes illegal,
        invalid or unenforceable in any respect under any law of any
        jurisdiction, neither the legality, validity or enforceability of the
        remaining provisions nor the legality, validity or enforceability of

                                        6

<PAGE>

        such provision under the law of any other jurisdiction will in any way
        be affected or impaired.

12      REMEDIES AND WAIVERS

        No failure to exercise, nor any delay in exercising, on the part of any
        party, any right or remedy under this Agreement shall operate as a
        waiver, nor shall any single or partial exercise of any right or remedy
        prevent any further or other exercise or the exercise of any other right
        or remedy. The rights and remedies provided in this Agreement are
        cumulative and not exclusive of any rights or remedies provided by law.

13      ENTIRE AGREEMENT

13.1    This Agreement sets out the entire agreement and understanding between
        the parties with respect to the subject matter of it.

13.2    Neither of the parties has relied on or has been induced to enter into
        this Agreement in reliance on any representation, warranty or
        undertaking which is not set out in this Agreement.

14      COUNTERPARTS

        This Agreement may be executed in any number of counterparts, and this
        has the same effect as if the signatures on the counterparts were on a
        single copy of the Agreement.

15      NOTICES

15.1    Delivery: Any notice or other communication required to be given by one
        party to another party under this Agreement shall be in writing and
        shall be deemed to have been delivered if sent to the recipient at the
        address or fax number specified in the signature pages of this
        Agreement, marked for the attention of the person(s) specified or such
        other address or fax number or such other person(s) as may be notified
        to the other parties to this Agreement in writing by the recipient.

15.2    Deemed Delivery: Any notice or demand sent by post as provided in this
        Clause shall be deemed to have been given, made or served three (3) days
        (in the case of inland post) or seven (7) business days (in the case of
        overseas post) after despatch, any notice sent by courier as provided in
        this Clause shall be deemed to have been given, made or served at the
        time of delivery and any notice sent by fax as provided in this Clause
        shall be deemed to have been given, made or served 24 hours after
        despatch and receipt of confirmation of error-free transmission (if such
        fax is received during business hours and, if not, on the next business
        day in the place of receipt).

15.3    Language: Each communication and document made or delivered by one party
        to another pursuant to this Agreement shall be in the English language.

16      GOVERNING LAW & Jurisdiction

16.1    Governing Law: This Agreement shall be construed and interpreted in
        accordance with the laws of Hong Kong.

16.2    Jurisdiction: Each party to this Agreement irrevocably agrees that the
        courts of Hong Kong shall have non-exclusive jurisdiction to hear and
        determine any suit, action or

                                        7

<PAGE>

        proceeding, and to settle any disputes, which may arise out of or in
        connection with this Agreement ("Proceedings") and, for such purposes,
        irrevocably submits to the non-exclusive jurisdiction of such courts.

16.3    Waiver of Objection: Each party to this Agreement irrevocably waives any
        objection to the courts of Hong Kong being nominated as the forum to
        hear and determine any suit, action or proceeding, and to settle any
        disputes, which may arise out of or in connection with this Agreement.

16.4    SERVICE OF PROCESS:

        16.4.1  Each party irrevocably consents to any process in any
                Proceedings anywhere being served by mailing a copy by post to
                it in accordance with Clause 15 (Notices). Such service shall
                become effective 30 days after mailing.

        16.4.2  Nothing shall affect the right to serve process in any other
                manner permitted by law.

                                        8

<PAGE>

In witness whereof the parties or their authorised representatives have set
their hands the day and year first above written.

HTI (1993) HOLDINGS LIMITED                                  /s/ Susan Chow

By: Susan Chow

Address:   22/F, Hutchison House, 10 Harcourt Road, Hong Kong

Fax No:    +852 2128 1778

Attention: Company Secretary

HUTCHISON TELECOM (BVI) LIMITED                              /s/  Susan Chow

By: Susan Chow

Address:   18/F, Two HarbourFront, 22 Tak Fung Street, Hunghom, Kowloon,
           Hong Kong

Fax No:    +852 2827 1393

Attention: Company Secretary

HUTCHISON WHAMPOA LIMITED                                    /s/  Dominic Lai

By: Dominic Lai

Address:   22/F, Hutchison House, 10 Harcourt Road, Hong Kong

Fax No:    +852 2128 1778

Attention: Company Secretary

                                        9

<PAGE>

                                    SCHEDULE

Parties         Essar Teleholdings Limited ("ETH");
                Hutchison Telecommunications International Limited ("HTIL"); and
                Usha Martin Telematics Limited ("Telematics")

Background      A.      The parties, either directly or through subsidiaries,
                        are parties to a shareholders agreement dated 2 May 2000
                        ("HETL Shareholders Agreement") for cellular mobile
                        services in Delhi operating under Hutchison Essar
                        Telecom Ltd. ("HETL ") and have entered into a term
                        sheet in June 2001 (4th Licence Term Sheet") for
                        Hutchison Essar South Limited ("HESL"), the joint
                        venture vehicle holding cellular mobile licences in
                        Karnataka, Andhra Pradesh and Chennai .
                B.      The parties recognise that ETH has been transferred
                        certain rights of first refusal in respect of HTIL's
                        existing partners interests in Hutchison Max Telecom
                        Private Limited ("HMTL") pursuant to a letter of
                        intention of ongoing relationship of 2 May 2002.
                C.      HTIL together with Telematics and IndusInd Telecom
                        Network Limited, own all the issued share capital in
                        Fascel Limited ("Fascel"), a cellular mobile licence
                        holder for Gujarat.
                D.      HTIL and Telematics own all the issued share capital in
                        Hutchison Telecom East Limited ("HTEL"), a cellular
                        mobile licence holder in Calcutta.
                E.      ETH owns or controls all the issued share capital in
                        Aircel Digilink India Limited ("ADIL"), a cellular
                        mobile licence holder for Haryana, Uttar Pradesh East
                        and Rajasthan.
                F.      HESL has entered into an agreement to purchase a
                        cellular mobile licence for Punjab (the "Punjab
                        Licence")
                G.      It is the intention of the parties to consolidate the
                        above cellular operations on the basis of this term
                        sheet.

Structure       Stage 1 - Consolidation
                The parties agree to combine the operations of HMTL, HETL, HESL
                (including the Punjab Licence), Fascel, HTEL and ADIL
                ("Operating Companies"), by way of transfer of their shares in
                the Operating Companies to an Indian holding company ("HoldCo")
                in return for shares in HoldCo.
                The parties shall use their best endeavours to procure the other
                shareholders of the Operating Companies transfer their shares to
                HoldCo and take shares in HoldCo on the same terms as those
                offered to the parties.

                                                                             1

<PAGE>

                In the event that the parties are unable to procure such
                shareholders to participate in the consolidation then: (i) the
                consolidation will take place with those shareholders that are
                willing to transfer their shares to HoldCo; and
                (ii) the exact structure of HoldCo's ownership will be reviewed
                to ensure that there is no breach of India's sectoral cap on
                foreign holdings in telecommunications and if such a breach
                could be a possibility then the parties shall agree suitable
                variations to HoldCo's ownership structure to ensure compliance
                with the sectoral cap and protect the interest of the parties as
                equitably as possible.
                The valuation of such transfers and the amount of shares to be
                issued by HoldCo will be as per the agreed valuation
                ("Valuation"). The date for Valuation shall be 31 December 2002
                and the Valuation shall be based on 31 December 2002 accounts.

                STAGE 2- IPO

                It is the intention of the parties, subject to commercial
                factors and prevailing market conditions to undertake an IPO of
                HoldCo's shares on or before 31 December 2004.

                STAGE 3 - MERGER

                Subject to advice from the investment banking advisors of the
                parties, it is believed that the optimal structure for HoldCo
                and its subsidiaries will be a single entity formed by the
                merger of the subsidiaries into HoldCo by way of Indian court
                approved scheme of arrangement. The decision regarding when to
                undertake such a merger will be taken by the parties in due
                course.

ADIL Interim    HTIL and Telematics shall, on the date of the transfer of ADIL
Measures        shares to HTEL, immediately procure the appointment of 3 of the
                9 directors on the HTEL board to be ETH nominees and obtain the
                approval of all HTEL shareholders to the above. From the date of
                appointment of the ETH directors to the HTEL board, the
                operations and management of HTEL and ADIL shall be governed by
                the same provisions as those contained in the HETL Shareholders
                Agreement.
                The parties acknowledge that the valuation for ADIL excludes the
                refund of licence fees that ADIL will receive from the DoT as a
                result of the 6 month extension of "Effective Date" and the
                Supreme Court decision dated 4th March 2003. The parties have
                agreed that such refund will be deemed to be an asset of

                                                                             2

<PAGE>

                ETH and not ADIL and upon receipt of such refund by ADIL it
                shall be paid to ETH.

Options         1. HMTL
                ETH has the option ("HMTL Option"), if HTIL's joint venture
                partners (Distacom in Hutchison Telecommunications (India)
                Limited, Caymans and Max Televentures in HMTL) wish to sell
                their respective stakes in HMTL, to purchase such stakes from
                HTIL or have HTIL waive its rights of first refusal, if ETH
                agrees to purchase direct.

                In consideration of the HMTL Option and upon completion of such
                purchase by ETH or any third party nominated by ETH, ETH shall
                waive its rights under clause 8 (b) (ii) of the HETL
                Shareholders Agreement to have a deemed equal equity valuation
                for HETL and HMTL for the purpose of consolidation.
                The parties have agreed the shareholding percentage of HoldCo to
                be transferred to ETH because of the deemed equal valuation( the
                "Equal Valuation Stake"). In the event that ETH exercises the
                HMTL Option, or part thereof, ETH shall simultaneously transfer
                to HTIL or its nominee shares equivalent to the Equal Valuation
                Stake (or 2/3rds of the Equal Valuation Stake if the HMTL Option
                is exercised only in respect of Distacom or 1/3rd of the Equal
                Valuation Stake if the HMTL Option is exercised only in respect
                of Max India).

                2. PUNJAB LICENCE
                US$40 million will be required as equity contribution. HTIL and
                ETH agree to contribute US$30 million and US$10 million
                respectively within 3 months of the completion date of such
                purchase ("Subscription Expiry Date"). The parties acknowledge
                that the valuation of HESL (and accordingly, the parties' stakes
                in HoldCo) is on the basis that the above equity will be
                contributed and have calculated their shareholdings in HoldCo
                accordingly.
                In the event that ETH does not contribute its required equity by
                the Subscription Expiry Date, then HTIL has the option to
                contribute ETH's share within 30 days of the Subscription Expiry
                Date in resturn for an agreed percentage in HoldCo.
                If ETH does not make its equity contribution and HTIL does not
                exercise its option to contribute ETH's share within 30 days of
                the Subscription Expiry Date, HoldCo shall, at its discretion,
                either cancel, buy back or transfer to any other shareholder of
                HoldCo, the percentage of the issued share

                                                                             3

<PAGE>

                capital of HoldCo held by ETH which HTIL had the option to
                acquire.

                3. OTHER OPPORTUNITIES
                The parties agree that if any of them become aware of
                opportunities to purchase any company holding a cellular mobile
                licence in India, they will first offer such opportunity to
                HoldCo. HoldCo shall have 20 days from the date of such offer to
                confirm whether it wishes to pursue such opportunity. If the
                Parties do agree to pursue such opportunity, they shall ensure
                such purchase is carried out by HoldCo .
                The costs of such purchase and development of the business
                (including rollout of any network required) will be borne by the
                parties, by subscribing to further equity in HoldCo to be valued
                at fair market value, pro rata to their shareholding in HoldCo
                on a debt/equity ratio to be agreed, or failing agreement a
                ratio of 1:1.
                If any of the parties (or any other shareholder of HoldCo ) does
                not contribute its share of the equity required for such
                purchase and/or development, then such party (or shareholder)
                will be diluted accordingly as per the provisions applicable to
                any pro rata share issue in respect of HoldCo.
                It is agreed that HoldCo may only pursue such other
                opportunities with unanimous consent of the parties

Independent     Independent Valuation
Valuations      Where an independent valuation is required the value of each
                business or company will be determined by an average of the two
                valuations provided by the overseas offices of globally
                recognised investment banking firms, one firm to be appointed by
                ETH and one firm to be appointed by HTIL.

Shareholders    1.      The Shareholders Agreement for HoldCo, post
Agreements              consolidation but pre IPO to be broadly the same as the
                        HETL Shareholders Agreement but will terminate on IPO.
                        Agreement will include (i) right to nominate directors
                        in proportion to the beneficial shareholding (ii) HTIL
                        to nominate the Chairman of the Board from amongst its
                        nominees and ETH to nominate the Vice-Chairman of the
                        Board from amongst its nominees (iii) HTIL to have
                        certain management rights, including in particular, the
                        right to nominate Chief Executive Officer (provided that
                        prior to any nomination ETH shall be consulted), Chief

                                                                             4

<PAGE>

                        Financial Officer, Chief Commercial Officer, Chief
                        Marketing Officer and Chief Technical Officer for all
                        operations; A relationship agreement, reflecting the
                        listed nature of HoldCo and modifying the shareholders
                        agreement accordingly will be entered into at the time
                        of IPO and concurrent with the termination of the
                        Shareholders Agreement.

                2.      Rights of First Refusal: ETH shall grant HTIL ROFR over
                        any sale of its shares in HoldCo on substantially the
                        same terms as those contained in the HETL Shareholders'
                        Agreement;

                3.      HTIL shall grant ETH ROFR (on substantially the same
                        terms as those contained in the HETL Shareholders'
                        Agreement) over a sale of its shares in HoldCo if such
                        sale:

                                (a)     results in HTIL and any of its
                                        associated companies holding, in
                                        aggregate, directly or indirectly, less
                                        than 40% of the issued share capital of
                                        HoldCo; and

                                (b)     is to a company or consortium which has
                                        any of the Indian business groups set
                                        out below holding a 10% or more
                                        interest:
                                        (i)     The Reliance Group of Companies;
                                        (ii)    The Bharti Group of Companies;
                                        (iii)   The Tata Group of Companies

                4.      Tag Along: HTIL will grant ETH Tag Along rights in
                        respect ETH's shareholding in HoldCo if HTIL or any of
                        its associated companies sells its stake, or part
                        thereof, in HoldCo and such sale results in HTIL and any
                        of its associated companies holding, in aggregate,
                        directly or indirectly, less than 40% of the issued
                        share capital of HoldCo;

                5.      Decisions of the Board and of shareholders to be by
                simple majority subject to certain decisions as set out below
                which require consent of all shareholders holding more than 10%
                of the issued share capital of HoldCo on the terms indicated
                therein:

                (i)     Approval of the annual business and operating plan,
                        which shall include the business and operating plans for
                        each of the operating subsidiaries (the

                                                                             5

<PAGE>

                        "Subsidiaries"). If approval is not granted, HoldCo
                        shall conduct its business in accordance with the
                        previous business and operating plan adjusted for any
                        changes in the consumer price index over the relevant
                        year until such time as a new business and operating
                        plan has been approved;
                (ii)    Mergers, consolidation and acquisition of another
                        company/business;
                (iii)   Entry into a new business; (iv) Sale of all or a
                        substantial part of the business/assets of HoldCo or any
                        of the Subsidiaries;
                (v)     Transactions between HoldCo or any of its subsidiaries
                        and any shareholder of HoldCo or its affiliate other
                        than any transaction contemplated by the annual business
                        plan or which is on commercial arm's length terms;
                (vi)    Entering into High Value contracts (contracts with value
                        over US$20 million) in respect of HoldCo or any of the
                        Subsidiaries, not contemplated by the annual business
                        plan;
                (vii)   Liquidation, winding up etc;
                (viii)  Amendments to Memorandum and Articles of Association of
                        HoldCo or any of the Subsidiaries other than as
                        contemplated in the annual business plan.;
                (ix)    Any change in the authorized or issued share capital or
                        issue of any additional equity shares or other
                        securities of HoldCo or any of the Subsidiaries other
                        than as contemplated in the annual business plan.;
                (x)     A change in the auditors
                (xi)    Capital calls, other than as contemplated in the annual
                        business plan. Capital calls that are contemplated in
                        business plan and the issue of shares because of the
                        default of a shareholder are not subject to this
                        requirement.

                6.      RESERVED DECISIONS

                Provided HTIL and any of its associated companies , in aggregate
                is the largest single shareholder, and directly or
                indirectlyhold at least 40% of the issued share capital of
                HoldCo, decisions under clause (i), (vi), (ix) and (xi) will be
                treated as Reserved Decisions ("Reserved Decisions"). If the
                Directors cannot agree on any of the Reserved Decisions within
                seven (7) days of the Board meeting, the following procedures
                shall apply:

                                                                             6

<PAGE>

                A summary of the facts surrounding the disputed Reserved
                Decision shall be sent by HoldCo to one of the Directors
                nominated by each of ETH and Hutchison ("Concerned Directors");

                Within seven (7) days of the receipt of such summary, the
                Concerned Directors shall meet and discuss the disputed Reserved
                Decision and shall take all steps and to reach a consensus
                acceptable to the Shareholders;

                If the Concerned Directors are unable to reach a consensus in
                the manner set forth in sub-clause (b) above within a further
                period of fourteen (14) days, then the matter shall be referred
                to the Managing Director/ General Manager of each Shareholder
                who shall meet and discuss the disputed Reserved Decision and
                shall take all steps and to reach a consensus;

                In the event that a consensus can still not be reached within 10
                days of the matter being referred to the Managing Director/
                General Manager of each Shareholder then the matter will be
                referred back to the Board where:
                (1)     in respect of Reserved Decisions arising under clause
                        (i), each of the shareholders shall procure that its
                        appointed directors vote on the resolution to give
                        effect to HTIL's direction; and
                (2)     in respect of Reserved Decisions arising under clause
                        (vi), (ix) and (xi), consent of all directors
                        representing shareholders holding more than 10% of the
                        issued share capital of HoldCo, will be required to pass
                        a resolution on the decision

                7.      The composition of the board of directors of each of the
                        Subsidiaries will be identical to that of HoldCo and the
                        parties shall ensure that the rights given to each party
                        in respect of HoldCo shall apply mutatus mutandis to
                        each of the Subsidiaries.

                8.      The auditor to be PriceWaterhouseCoopers.

                9.      Each party shall be free to transfer any part of its
                        stake in HoldCo to any financial investor provided it
                        has complied with the transfer requirements contained in
                        the shareholders agreement, including rights of first
                        refusal and the execution of a deed of adherence. The
                        parties agree that if such a purchaser holds more than
                        10% of the issued share capital of HoldCo, that
                        purchaser only and

                                                                             7

<PAGE>

                        not its successors in title will be entitled to some of
                        the minority protection rights to be contained in the
                        shareholders agreement and each party shall be free to
                        transfer its right to appoint a director or directors to
                        such purchaser. The parties shall not be permitted to
                        transfer any minority rights or the right to appoint a
                        director in HoldCo to any party which is a provider of
                        telecommunications services that is a competitor of
                        HoldCo (or any of the Subsidiaries), or a shareholder of
                        any such competitor, without the the other parties
                        consent.

Points to note  1.      For financing HoldCo or the Subsidiaries to raise third
                        party debt, the parties will endeavour to raise such
                        debt on reasonable commercial terms and, in the
                        following order:
                        i)      without recourse to the shareholders;
                        ii)     failing which, the parties will provide
                                corporate guarantees or other acceptable form of
                                credit support (any support referred to
                                hereafter as "Shareholder Support") for their
                                respective shares on a pro rata basis;
                        iii)    failing which, the Board will decide whether it
                                is appropriate to call for any further
                                Shareholder Support acceptable to the lenders or
                                to make equity capital calls as above. In the
                                event the Board decides that further Shareholder
                                Support is required and one party cannot provide
                                such Shareholder Support then the party
                                providing the Shareholder Support shall be
                                entitled to receive a fee in an amount
                                satisfactory to the party providing such support
                                (being not more than the costs saved by the
                                company).
                2.      The parties intend to IPO HoldCo on one or more of the
                        stock exchanges of India or offshore or a combination
                        thereof by 31 December 2004. The terms of such IPO will
                        need to be agreed between the parties at the time in
                        consultation with investment banking advice received.
                        The parties agree that the purpose of the IPO will be to
                        raise money for HoldCo, maximise returns to all
                        shareholders (both initially and long term) and provide
                        liquidity. However, the parties acknowledge that they
                        will be the main promoters of HoldCo and that it may be
                        necessary for them to agree to a lock in on the sale of
                        their shares after IPO for such period as advised by
                        HoldCo's bankers and thereafter agree to an orderly exit
                        for the sale of any of their shares in HoldCo
                3.      In the event that the IPO of HoldCo has not happened by
                        31 December 2004 and ETH wishes to IPO its interest in

                                                                             8

<PAGE>

                        some other way or sell its stake in HoldCo, HTIL shall
                        provide all reasonable assistance to ETH to enable such
                        IPO or sale to take place including presentations on
                        business plans and company performance to any potential
                        purchaser.
                4.      HTIL has provided certain credit support for loans to
                        ETH from GE Capital Services India (together the "ETH
                        Loans"). HTIL confirms it will continue to provide such
                        support up to 31 December 2004 on substantially the
                        following terms:
                        (a)     all the ETH Loans will be repaid on the expiry
                                of the lock in period following IPO and in any
                                event on or before 31 December 2004 ("Final IPO
                                Date") . HTIL will be under no further
                                obligation to extend support in any way past
                                this date;
                        (b)     The ETH Loans shall be structured so that ETH
                                pays an amount equal to 33% of the accrued
                                interest throughout the term of the loans from
                                the date of rollover of the ETH Loans until 31
                                December 2004.
                        (c)     In the event that an IPO has not occurred and
                                the Loan is not repaid by 30 October 2004
                                ("Option Date"), for the purpose of repayment of
                                the ETH Loans only, ETH grants a call option to
                                HTIL and HTIL grants a put option to ETH in
                                respect of all HoldCo shares held by ETH. The
                                value of the ETH shares shall be determined by
                                Independent Valuation within 30 days of the
                                Option Date ("Valuation Date").
                                The terms of the call option shall allow HTIL to
                                require ETH to sell to it such number of HoldCo
                                shares equal in value to all outstandings under
                                the ETH Loans in return for HTIL's payment of
                                such outstandings on ETH's behalf. In the event
                                that the value of ETH's shares in HoldCo are not
                                sufficient to repay the outstandings, ETH shall
                                transfer all its shares in HoldCo to HTIL and
                                the balance will be payable by ETH to HTIL upon
                                demand.
                                The terms of the put option shall allow ETH to
                                require HTIL to buy from it such number of
                                HoldCo shares equal in value to all outstandings
                                under the ETH Loans in return for HTIL's payment
                                of such outstandings on ETH's behalf. In the
                                event that the value of ETH's shares in HoldCo
                                are not sufficient to repay the outstandings,
                                ETH shall transfer all its shares in HoldCo to
                                HTIL and the balance will be payable by ETH to
                                HTIL upon demand.
                                Either party shall have 20 days from the
                                Valuation

                                                                             9

<PAGE>

                                Date to exercise the above options and
                                settlement shall take place on 31 December 2004
                                ("Settlement Date").

                Notwithstanding the terms outlined above, if an IPO has not
                taken place by the Final IPO Date and the investment bankers for
                HoldCo certify that an IPO will in all likelihood take place
                before 30 June 2005, then the Final IPO Date, the Option Date
                and the Settlement Date will all be extended by a period of 6
                months only.

                In the event that the ETH Loans are not repaid and an IPO takes
                place by the Final IPO Date then the Option Date and the
                Settlement Date will be extended to the dates 3 months and 5
                months respectively after the expiry of any lock in period
                applicable to ETH's shares in HoldCo.

                Notwithstanding any of the above, if for any reason HTIL
                continues to provide guarantees for the ETH Loans after 31
                December 2004, ETH shall pay all interest that accrues on the
                ETH Loans throughout the term in accordance with the terms
                agreed with the relevant lender(s). If the Stage 1 Consolidation
                has not taken place by the Option Date, the references in clause
                4 above to "ETH's shares in HoldCo" shall be deemed to be
                references to "ETH's shares in HETL".

                5.      Preferential network / subscriber access on arms length
                        commercial terms for possible ETH promoted ancillary
                        businesses - long distance; international long distance;
                        lottery; call centre / outsourcing; broadband internet
                        etc.
                6.      HoldCo to be renamed Hutchison Essar Telecom (India)
                        Limited. Entity to be presented as Hutchison Essar joint
                        venture.
                7.      HTIL agrees that it will assist ETH to obtain funding of
                        the HMTL Option provided that nothing herein imposes any
                        obligation on HTIL or any of its associated companies to
                        provide or procure any financial or legal credit or
                        other support or undertaking and that a statement to
                        this effect is made to any potential financier

Pre-Completion  1.      Corporate approvals from HTIL, ETH and Telematics.
Conditions      2.      Approval of all relevant financial institutions and
                        other creditors
                3.      Receipt of all Governmental approvals including DOT, RBI
                        and FIPB for transfer of foreign shareholders interest
                        to HoldCo and for issue of shares of HoldCo to foreign
                        investors.
                4.      Execution of all relevant documentation including
                        Shareholders' Agreement.

                                                                             10

<PAGE>

Confidentiality The terms of this Term Sheet are confidential and neither party
                shall disclose the information contained herein.

                                                                             11

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