Lenovo Announces Memorandum of Understanding to Acquire Packard Bell

    HONG KONG, August 7 /CNW/ - Lenovo today announced that the Company is in
discussion with an independent third party in relation to a proposed
acquisition of Packard Bell, a computer company in Europe and has entered into
a memorandum of understanding with such party to explore the possibilities of
the proposed acquisition. The Company is currently continuing negotiation with
the independent third party and undertaking certain necessary enquiries with
third parties and/or government bodies in preparation for the entering into of
definitive agreements for such proposed acquisition.

    The transaction, if materialized, may constitute a discloseable
transaction of the Company under the Hong Kong Stock Exchange listing rules.
Shareholders of Lenovo and potential investors should note that the proposed
acquisition may or may not materialize. Further announcement will be made by
the Company as and when appropriate to comply with the Hong Kong Stock
Exchange listing rules.


    Lenovo (HKSE: 992) (ADR: LNVGY) is dedicated to building the world's
best-engineered personal computers. Lenovo's business model is built on
innovation, operational efficiency and customer satisfaction, as well as a
focus on investment in emerging markets. Formed by Lenovo Group's acquisition
of the former IBM Personal Computing Division, the company develops,
manufactures, and markets reliable, high-quality, secure, and easy-to-use
technology products and services worldwide. Lenovo has major research centers
in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North
Carolina. For more information, see www.lenovo.com.

For further information:

For further information: Lenovo Group Hong Kong Angela Lee, (852)
2516-4810 angelalee@lenovo.com or U.S. Ray Gorman, (919) 257-6325

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