Octopus Welcomes Interim Report by the Office of the Privacy Commissioner for Personal Data

(30 July 2010, Hong Kong (AllPayNews) Octopus Holdings Limited ("OHL") welcomes the interim report issued by the Office of the Privacy Commissioner for Personal Data ("PCPD") on its investigation into Octopus' data privacy protection. The recommendations will be given due consideration and implemented where appropriate after the company reviews the report in detail.

OHL will continue to fully co-operate with the Office of the PCPD in its investigation and remains committed to protecting customer data and privacy.

Meanwhile, OHL has undertaken a series of measures with a view to further enhancing customer data and privacy protection. These include:

Immediately discontinuing the provision of customer data to third parties for marketing purposes;
Forming a Special Committee of the OHL Board to review the company's policies and practices of protecting customer data and privacy;
Separately, appointing an independent auditor, subject to approval by the Hong Kong Monetary Authority under section 59(2) of the Banking Ordinance, to conduct an audit of the company's data privacy protection;
Setting up new online channel for Rewards members to opt out of receiving marketing materials; and
Revising application forms to include an opt-out box and implementing other recommendations of the PCPD as appropriate