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AMEX TO OPEN OPTIONS TRADING ON HONG KONG TELECOMMUNICATIONS LIMITED AMERICAN DEPOSITARY RECEIPTS

 NEW YORK, Feb. 23 /PRNewswire/ -- The American Stock Exchange today said it will open put and call options trading on Friday, Feb. 26, on the American Depositary Receipts (ADRs) of Hong Kong Telecommunications Limited (options symbol: "HKT").
 Hong Kong Telecommunications is the holding company for Hong Kong Telephone Co. Ltd. and Cable and Wireless (Hong Kong) Ltd. which have exclusive rights to provide Hong Kong's local and international telephone, telex, data transmission, and facsimile services.
 HKT will open with strike prices of 35, 40 and 45 and position limits of 5,500 contracts. Initial expiration months will be March, April, July, and October of 1993. Charlton, Goin/SLK will be the specialist unit for the new options.
 The Amex already trades options on eleven ADRs which include: Telefonos de Mexico ("TMX"), Telefonos de Espagnol ("TEF"), Grand Metropolitan plc ("GRM"), Glaxo Holdings plc ("GLX"), Reuters Holdings plc ("RTQ"), Vodafone Group plc ("VOD"), British Telecommunications plc ("BTY"), Societe Nationale Elf Aquitaine ("ELF"), TOTAL ("TOT"), Waste Management International plc ("WME") and Wellcome plc ("WEL").
 The Amex trades a total of 304 stock options, including 85 options on over-the-counter stocks, as well as 35 LEAPS(TM) (Long-term Equity AnticiPation Securities). In addition, options are traded on six broad- market indexes -- the Major Market Index (XMI), the XMI LEAPS(TM) Index (XLT), the S&P MidCap 400 Index (MID), the Institutional Index (XII), the Japan Index (JPN) and the EUROTOP 100 Index (EUR) -- as well as four industry-based indexes -- the Oil Index (XOI), the Computer Technology Index (XCI), the Pharmaceutical Index (DRG) and The Biotechnology Index (BTK).
 -0- 2/23/93
 /CONTACT: Kathleen Fitzpatrick, manager, derivative securities communications, of Amex, 212-306-1697/


CO: Hong Kong Telecommunications ST: IN: TLS SU: RTG

CK -- NY046 -- 9384 02/23/93 11:47 EST
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Publication:PR Newswire
Date:Feb 23, 1993
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