Hong Kong, December 6, 1999
A Project Aimed At Becoming The Leading Web-based Interactive News Outlet in Asia
— chinadotcom corporation (NASDAQ: CHINA) today announced that it had signed a memorandum of understanding to jointly develop with Agence France Presse (AFP) a pan-Asian interactive sports service called AsiaSport.com as well as other web sites devoted to sports news and information.
This provisional agreement covers all of Asia, including China and India. Initially, the service will be available in English and Chinese and at a second stage in other Asian languages.
This project - to be known as AsiaSport.com Ltd. - will be coordinated in Hong Kong. AFP will be responsible for the organization, production, and editorial integrity of news content for the web sites. This will include the setting up of a specialized sports reporting and editing network in Asia. chinadotcom corporation will set up the sales and marketing organization and be responsible for the web site design and support. chinadotcom corporation also has the exclusive right to sell advertising space on the sites across Asia.
Commented Mr. Peter Yip, Chief Executive Officer of chinadotcom corporation, "AFP is one of the great names of the news industry and we are delighted to be working with them to create this exciting news service for which there is a huge demand across Asia. Secondly, we believe that there will be a huge demand across Asia for such a service. From soccer to badminton, to tennis to motor racing; Asia is a sports-mad continent. We aim to provide sport delivered in an exciting, timely, and targeted way - and make it accessible to the different markets across Asia by developing local language versions."
Added Mr. Yip, "This is also a natural development for us as it helps to further reinforce our 'Build, Distribute, Sell' business strategy. We will help to 'build' the web sites, 'sell' advertising on and for the sites and 'distribute' the sites through our Greater China portal network - china.com, cww.com, hongkong.com, and taiwan.com. This new project will be a perfect example of the value of our pioneering integrated Internet strategy at work."
"This project further expands AFP's already substantial presence on the Internet. We are delighted at the prospect of bringing our considerable editorial resources into play with an internationally-recognized web operator of chinadotcom corporation's standing," said Mr. Eric Giuily, President Directeur General for AFP.
"The project will allow us to broaden our already extensive coverage of the sports arena, particularly in the Asia-Pacific region and make the most varied content of the highest quality available to the region's increasingly discerning and demanding audiences," he stressed.
About chinadotcom corporation
chinadotcom corporation is the first pan-Asian, China-focused integrated Internet company listed in the United States (NASDAQ: CHINA).The company provides a full range of Internet services that; 1) build eCommerce strategy and solutions (the Web Connection), 2) distribute content via its portal network (hongkong.com, taiwan.com, china.com, and cww.com), and 3) sell services through online advertising (24/7 Media Asia). China.com Corporation is committed to enabling digital communities to realize their full Internet potential, thereby facilitating the development of the Internet in China and across Asia. The company has over 700 employees in 17 offices across 10 Asian markets. In Mainland China, the company has five offices and over 200 employees. Major corporate shareholders include America Online Inc., Mitsui & Co. Ltd., Bay Networks Inc., Sun Microsystems Inc., New World Infrastructure and 24/7 Media Inc..
About Agence France Presse
With 1,200 reporters, 200 photographers and 2,000 stringers working in 165 countries, Agence France Presse (AFP) runs the most far-reaching network of any news service. AFP provides unmatched depth and breadth of coverage from regions where the others are weak or absent. Two million words, 250 photos and 80 graphics distributed in a day. General, Economic and Sports news around the clock in English, Spanish, French, German, Arabic Portuguese, AFP is widely recognized as the premier supplier of information in Asia, Africa and the Arab-speaking world.
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