2001 Annual Report Pacific Century CyberWorks Ltd. Cover Contents Corporate Profile Business and Financial Highlights Statement from the Chairman and Chief Executive Corporate Overview Business Overview Sales - Commercial and Consumer Groups PCCW in Asia and Beyond People Development Community and Environment Management's Discussion and Analysis Board of Directors Corporate Governance Financial Information Report of the Directors Auditors' Report Consolidated Income Statement Consolidated Statement of Recognized Gains and Losses Consolidated Balance Sheet Balance Sheet Consolidated Cash Flow Statement Notes to the Financial Statements Five Year Financial Summary Schedule of Principal Properties Investor Relations Inside Back Cover Back Cover