【For Immediate Release】

China Telecom Corporation Limited Issued Super Short-term Commercial Paper

Hong Kong, 23 January 2015 - China Telecom Corporation Limited (the "Company") (HKEx: 00728; NYSE: CHA) announced that the Company has successfully issued a total of RMB 6 billion super short-term commercial paper (the"Issue") on 21 January
2015. The Issue included RMB 3 billion super short-term commercial paper with a
maturity period of 90 days at an annual interest rate of 4.40% and RMB 3 billion super short-term commercial paper with a maturity period of 180 days at an annual interest rate of 4.38%. The Issue was placed through a centralized book-building and allocation process in the PRC inter-bank debenture market at par value. The Company will use the proceeds of the Issue mainly to enhance its working capital.

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For press enquiries:

China Telecom Corporation Limited
Investor Relations Department
Ms. Lisa Lai/ Mr. Ivan Wong
Tel: (852) 2582-5856/ 2582-5849
Email: lisa.lai@chinatelecom-h.com/ ivan.wong@chinatelecom-h.com
Fax: (852) 2877-0988

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