ASIA TELE-NET<0679> - Announcement

The  Stock  Exchange of Hong Kong Limited takes no responsibility for
the  contents of this announcement, makes no representation as to its
accuracy  or  completeness  and  expressly disclaims any liability
whatsoever  for  any loss howsoever arising from or in reliance upon
the whole or any part of the contents of this announcement.

Asia Tele-Net and Technology Corporation Limited
(formerly known as Process Automation (Holdings) Limited)
(incorporated in Bermuda with limited liability)

COMPLETION OF ACQUISITION OF 10% INTEREST IN SKY-E.COM

Acquisition  of  10%  interest in Sky-e.com was completed on 28
January 2000.

Unless  otherwise  stated, terms used in this announcement shall have
the  same  meanings  as those defined in the circular of the Company
regarding  the  acquisition  of  10% interest in Sky-e.com dated 21
January 2000.

The  Directors  are pleased to announce that all conditions precedent
to  the  completion of the Agreement regarding the acquisition of 10%
interest  in  Sky-e.com by the Group have been satisfied and that the
Agreement was completed on 28 January 2000.

                               By order of the Board 
                               Asia Tele-Net and Technology       
                               Corporation Limited 
                               Kwok Hing Lam 
                               Deputy Chairman & Managing Director        
              
                                                            
Hong Kong, 28 January 2000