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MTR Corporation Partners With IBM to Roll Out Enterprise Asset Management System to Maximize Assets and Business Performance

High Quality, On-Time Delivery Implementation Hailed as Best Practice

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HONG KONG - 26 Jan 2007: IBM China/Hong Kong Limited (NYSE: IBM) today announced the successful implementation of an Enterprise Asset Management System (EAMS) at MTR Corporation (HKSE: 066), delivering on the Enterprise Asset Management Framework developed by MTR Corporation. MTR Corporation is a company engaged in the construction and operation of Hong Kong's mass transit railway system, integrated with development of properties and new communities along its railway lines.

The new EAMS will enable MTR Corporation to optimize operational effectiveness and improve asset utilization and performance to bring more value for the Hong Kong metro system's millions of customers. The new system, launched on January 22nd, represents the completion of the first phase of MTR Corporation's long-term enterprise asset management strategy and vision.

MTR Corporation's EAMS actively manages assets such as railway equipment, infrastructure and networks -- that often account for a large proportion of operational overhead -- throughout their lifecycle to minimize their cost, maximize their worth, and reduce their risk to the business. The project implementation was jointly carried out by IBM Global Business Services' consultants who partnered with MTR Corporation to drive on-time delivery of the project against plan, within budget and with minimal customization.

"Our user testing has yielded very positive results and the project was delivered on time and within budget. This is an outstanding achievement for a software project of this scale," said Andrew McCusker, Operations Director, MTR Corporation who led the EAMS initiative. "IBM's well defined project management approach and commitment to quality execution played an important role in helping us deliver on our business objectives for service excellence and operational performance."

Based on recommendations from IBM's consultancy study, MTR Corporation installed Oracle Enterprise Asset Management (eAM) for Maintenance Management; Purchasing & iProcurement Modules for Procurement Management; Inventory Management for Stores Management; and also completed an upgrade on Oracle Financials and Activity Based Management. The system exceeds the requirements of the Publicly Available Specification 55-1 (PAS 55-1) standards developed by the British Standards Institution in conjunction with a broad group of industries relying on strong asset management systems to achieve business success.

As part of the consulting engagement, IBM provided 3,120 hours of training to MTR Corporation's staff to facilitate the implementation and will continue to offer support to help the company build skills internally to ensure its future success.

"IBM was able to offer us best-of-breed EAMS consulting and implementation services that leverage their global expertise," said Daniel Lai, Head of Information Technology, MTR Corporation. "As a partner, IBM's commitment to quality and service excellence is first in class."

MTR Corporation first engaged IBM in 2004 to consult on its EAM initiative. Following a series of rigorous reviews and assessments, IBM worked with the company to establish an EAM Solution Roadmap and completed a study which validated the foundation for the company's EAM best practice framework. MTR Corporation plans to continue to work with IBM to extend roll out to other parts of the Corporation, and to ensure compliance with PAS 55-1 standards for Asset Management for the new entity. The move delivers on MTR Corporation's vision and EAM framework which was successfully implemented under the aegis of the company's Operations Director.

"MTR Corporation's EAMS vision, leadership and risk management framework serve as a best practice example for other organizations in Asia Pacific of how a lifecycle approach to asset management reduces and optimizes operating costs," said Gautam Bardoloi, Partner, IBM Global Business Services. "We are pleased to be MTR Corporation's partner in driving business process innovation and look forward to continued collaboration."

"For Oracle, MTR Corporation's success in its EAMS project implementation represents not only gaining of a significant customer in the transportation industry but also a successful partnership in application technology with MTR Corporation and IBM in deploying an integrated enterprise asset management system," said Aldous Wong, Vice President, Applications, Oracle Greater China. "With Oracle eAM deployed, we are confident that the new system enables very immediate and tangible benefits in costs in applications integration, software upgrade and maintenance."

About MTR Corporation

MTR Corporation is a publicly listed company in Hong Kong engaged in the construction and operation of Hong Kong's mass transit railway system integrated with development of properties and new communities along its railway lines. MTR employs the best of practice in the performance and delivery of its services and is dedicated to leadership in enterprise management and in maintaining the vitality of Hong Kong business. For more information, visit www.mtr.com.hk.

About IBM

For more information about IBM Hong Kong, go to: www.ibm.com/hk

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