08 July 2011, Shenzhen – ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment and network solutions, today announced that it has entered into an agreement for a USD900 million three / five years syndicated term loan with 10 leading international banks through its wholly owned subsidiary ZTE (H.K.) Limited.

The loan will be guaranteed by ZTE and will be used for the general working capital requirements of ZTE (H.K.) Limited. Raising the debt in US dollars is an effective way for ZTE to hedge against the appreciation of RMB.ZTE’s financing offer received significant support from 10 international banks and was more than two times over-subscribed from the initial target. This level of support clearly demonstrates ZTE’s established strength and good prospects.

ZTE Executive Vice President and Chief Financial Officer, Mr. Wei Zaisheng, said, "We are very encouraged by the response to our first large-scale syndicated loan, which demonstrates strong support for ZTE’s financial stability and future growth prospects. Hong Kong is an international financial center that offers a platform to attract investment and funds from around the globe and ZTE will continue to build more solid partnerships with Hong Kong’s leading international banks, to assist all-round co-operation for future overseas market opportunities.”

Mr. Wei added, “More than half of ZTE’s business is now focused on overseas projects, so having this debt measured in US dollars places us in a better position to respond to the challenges of RMB appreciation. Loans from overseas syndicates can also reduce ZTE’s operating costs by avoiding rising domestic interest rates. In addition, this loan supports ZTE’s goal to optimize the company's short and long term credit structure and currency composition of debt.”

As a Hong Kong and Shenzhen listed company, ZTE is committed to stable, sustained development of its business through its top-quality management team, international corporate structure and its strength in developing and marketing innovative products.

The banks participating in the loan are:

Bank of China (Hong Kong) Limited

DBS Bank Ltd.

United Overseas Bank Limited

Banco Santander, S.A., Hong Kong Branch

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

Natixis

Hang Seng Bank Limited

Maybank, Hong Kong Branch

China Construction Bank Corporation, Hong Kong Branch

The Bank of Nova Scotia

(Left to right) Mr. Wei Zaisheng, Executive Vice President of ZTE Corporation and Mr. Lin Guangming, General Manager of Bank of China (Hong Kong) Limited at the ZTE Corporation USD 900,000,000 Syndicated Term Loan Facilities Signing Ceremony.