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 
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 
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 
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 
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. 
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