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Asia Pacific Wire & Cable Announces a Strategic Expansion and

  Restructuring Plan   Business Editors   NEW YORK--(BUSINESS WIRE)--Dec. 28, 2001--Asia Pacific Wire &  Cable Corporation Limited (NYSE:AWC) today announced its strategic  expansion and restructuring plan, and in an acceleration of the  previous internally-planned timetable, the Company announced that the  plan is to be implemented as soon as possible.   The plan contains two key elements, including the acquisition of  Crown Century Holdings Limited ("CCH") and its wholly owned  subsidiary, Pacific Electric Wire & Cable (Shenzhen) Co. Ltd.  ("PEWS"), followed by the merger of the Thai operations of the  Company.   Tom Tung, Chairman, stated, "The acquisitions of CCH and PEWS for  new common shares of the Company will add solid and profitable  companies to our operating group. In the year 2000, CCH and PEWS  reported combined revenue of $42,000,000 and a profit of $1,300,000,  and the consolidated net worth of those companies is estimated to be  $10,000,000."   Mr. Tung continued, "The Company has accelerated its strategic  expansion plan in order to enhance shareholder value as quickly as  possible. The transaction has already been approved by the Board of  Directors of each of the Company and Pacific Electric Wire & Cable  ("PEWC"), the Company's majority shareholder and the seller of the  shares of CCH and PEWS. The valuation for the CCH and PEWS acquisition  will be based upon unaudited third quarter financial statements of the  Company, with a post closing adjustment, if necessary, following  completion of the Company's year-end audit. Our majority shareholder,  PEWC, has demonstrated in the past its commitment to support the  business and operations of the Company, and we view this attractive  acquisition opportunity as a further demonstration of that support. We  anticipate that the transaction will close in January, 2002."   The second key element of the Company's strategic expansion and  restructuring plan is the merger of its Thai operations, which the  Company believes will generate cost savings of approximately  $1,000,000 per year, while improving overall efficiency. Mr. Tung  commented, "We believe the synergistic effect of merging these  operations will produce significantly reduced overhead and will  centralize decision making and resource allocation for our Thai  operations." The Thai merger is subject to further Board approval at  the subsidiary level and local regulatory approval in Thailand. The  Company anticipates completing the merger during the first quarter of  2002.   Mr. Tung further stated, "The Company is committed to enhancing  shareholder value and to addressing questions regarding its public  trading price. This acceleration of the implementation of our  strategic expansion and restructuring plan is a demonstration of that  commitment."   Asia Pacific Wire & Cable Corporation is a leading manufacturer of  wire and cable products for the telecommunications and power  industries in selected markets in the Asia Pacific Region.   Except for statements of historical fact, this news release  contains certain forward-looking statements about the Company. Such  statements are subject to significant risks and uncertainties  including changes in economic and market conditions, successful  implementation of growth plans, and other risks noted in the Company's  SEC filings which may cause actual results to differ materially.