China Development Bank Provides ZTE US$15 Billion Credit Line

SHENZHEN, China - Credit Facility Allows ZTE to Expand Global Reach and Introduce New
Technologies

ZTE Corporation (”ZTE”) (H share stock code: 0763.HK / A share stock
code: 000063.SZ), a leading global provider of telecommunications equipment
and network solutions, today announced that it has entered into a strategic
partnership with China Development Bank by signing a “Development of
Financial Cooperation Agreement”. This partnership further strengthens the
solid relationship the two organizations have previously developed.

Under the agreement, both parties will closely work together to establish
an investment and financing platform, including expansion to overseas
markets. According to a 5-year cooperation framework agreement, China
Development Bank will provide ZTE a US$15 billion credit line, including
ZTE’s overseas project financing and ZTE’s credit limits. The two companies
are currently in discussion to develop specific terms and procedures on
financing project and how to effectively execute the business cooperation.

Today, global and leading telecom operators are under enormous pressure
to develop next-generation telecom technologies, such as 3G, to meet market
demands. However, in view of the current global financial crisis, the
majority of mainstream financing agencies based in Europe and the U.S. are
trying to find ways to address issues such as inadequate liquidity and credit
crunch. This is where China Development Bank has an advantage by possessing a
healthy balance sheet as well as strong financing and credit ability, and
sees positive future prospects for the global telecom industry.

China Development Bank pledges to help ZTE in further strengthening and
upgrading its position in the global telecoms industry, hence facilitating
ZTE’s entry among the ranks of the world’s tier-one telecom operators. China
Development Bank is the fifth largest commercial bank in China. In 2008, its
total assets were valued at 2,890 billion RMB with non-performing loan ratio
within 1%. The bank also holds exceptional advantage in the area of export
credit.

ZTE believes that by strengthening its cooperation with China Development
Bank during these challenging times, it will help the company to further
partner with global telecom carriers. With a strong financial capability, ZTE
will be able to take advantage of potential business opportunities through a
combined effort of expanding market reach and rolling out new technologies.
This further helps the company to enhance its market competitiveness and
ultimately achieve a win-win situation.

Despite the global economic crunch, ZTE has been upgrading its position
in the industry steadily by adopting an aggressive and prudent marketing
strategy. Yesterday, ZTE announced a revenue of approximately RMB 44,293
million (US$6,388 million) in 2008, representing an increase of 27.37% over
2007. In the 3G tender bids offered by China’s three largest telecom
operators, ZTE obtained about 30% of the total local markets to deploy about
660,000 3G carrier frequency, positioning itself as the clear leader in
China’s 3G industry.

Media Contacts:

Margrete Ma
ZTE Corporation
Tel: +86-755-2677-5207
Email: ma.gaili@zte.com.cn

Romy T. Arambulo/ Ada Ho
Edelman PR
Tel: +852-2837-4727 x2837/4747
Email: romy.arambulo@edelman.com
ada.ho@edelman.com

Source: ZTE Corporation

Margrete Ma of ZTE Corporation, +86-755-2677-5207, or ma.gaili at zte.com.cn; Or Romy T. Arambulo/ Ada Ho of Edelman PR, +852-2837-4727 x2837/4747, or romy.arambulo at edelman.com or ada.ho at edelman.com