China.com Corporation Announces Board Approval of 2-for-1 Stock Split

Operations in Singapore set to grow to meet booming demand for Internet services


Hong Kong, March 2, 2000 — chinadotcom corporation [NASDAQ: CHINA; Website: www.corp.china.com], the leading pan-Asian integrated Internet company, is further expanding its operations in Singapore through its ongoing recruitment programme in anticipation of explosive growth in demand for e-business and Internet advertising services.

"The move is part of chinadotcom's commitment to invest in local talent; finding the right local people on the ground who can deliver tailored e-business Internet solutions and content to customers and Internet communities," said Peter Hamilton Chief Operating Officer of chinadotcom corporation. "It underlines our desire to be a leader in building the Internet in Asia from the grass roots up."

Commencing local operations in June 1999, the Web Connection has swiftly added to its ranks in Singapore and now has a team of 50 professionals. The Web Connection is now formally opening an office to give it a stronger platform from which to offer Internet-based business solutions to Asian corporations. It is anticipated that staff numbers will continue to rise rapidly this year.

In Asia, the Web Connection has an unrivalled blue-chip client base that includes HSBC, KLM Royal Dutch Airlines, General Motors, Samsung, Procter & Gamble and Cathay Pacific. As an e-business integrator, the Web Connection has developed numerous winning e-business solutions for clients. For example, through a multimedia-rich website, the Web Connection helped General Motors conduct e-commerce in Taiwan, allowing General Motors to sell over 100 vehicles in a 6-month period online. In the instance of KLM Royal Dutch Airlines, through Web Connection solutions, KLM's customers can purchase tickets online, experience personalised travel planning services and get involved in the airline's online promotions and competitions.

Another of chinadotcom's wholly-owned subsidiaries, 24/7 Media Asia, Asia's leading online advertising network, is celebrating its first anniversary by expanding its operations in Singapore. In the 12 months since launch, 24/7 Media Asia has become the market leader in the Asia Pacific region. Its network of over 500 major website affiliates attracts many of the best known local and international brands wanting to advertise online in Asia. Over 500 leading global and regional advertisers and agencies use 24/7 Media Asia for online

advertising, including Sony Corporation, Mitsubishi Motor Corporation, Compaq, Microsoft, KLM Royal Dutch Airlines, Ericsson, AT&T, Hewlett Packard, Samsung, and Daewoo. 24/7 Media Asia currently employs over 160 people in nine countries across the region.

The Web Connection and 24/7 Media Asia constitute the first and last components of chinadotcom's unique and successful investment-driven "Build, Distribute, Sell" business model, a model that forms the basis of the company's operations across 10 Asian markets.

"We believe that by boosting chinadotcom's operations in Singapore, we are substantially reinforcing our ability to offer the best possible online solutions to businesses and advertisers in South East Asia," Mr. Hamilton continued. "Across the region, the Internet is enjoying explosive growth. By expanding our regional presence we will be perfectly positioned to capitalise on the enormous potential of the Internet in the region."

"Investing in the talents of our people has always been one of our top priorities and it continues to be essential to further strengthening our business. New employees will be able to draw on the knowledge and skills developed from a team of over a thousand people in 24 offices across Asia.''

Mr. Hamilton is reviewing the company's Singapore operations today while he is attending the Internet World Asia Industry Awards. chinadotcom is one of the lead sponsors of the event and sees this as an opportunity to support the development of the regional Internet industry and encourage new Internet talent.


About chinadotcom corporation

chinadotcom corporation (NASDAQ: CHINA) is the leading pan-Asian Internet company built on an integrated operating and investment business model. The company provides a full range of Internet services that; 1) build e-business strategies and solutions (Web Connection), 2) distribute content via its portal network (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell services through online advertising (24/7 Media Asia).

chinadotcom corporation also invests in synergistic internet companies throughout the Asia-Pacific region that add value and depth to its services and portal channels. chinadotcom corporation's investment strategy is largely based on three types of investments. The first, incubation - through chinadotcom corporation's Jump Start program - supports seeding of

new companies and incubates Internet start-ups. For example, chinadotcom corporation's investment in, and development of, looks.com has created a highly popular Asian beauty and fashion on-line retailer. The second, acceleration, builds on existing businesses and accelerates the growth of existing on-line services, while the third category of investments, partnership, enables chinadotcom corporation to join with established Internet companies to accelerate and expand their entry into the Asian market.

chinadotcom corporation is committed to enabling digital communities to realize their full potential, thereby facilitating the development of the Internet in China and across Asia. The company has over 1000 employees in 24 offices across 10 Asian markets, including Australia, Hong Kong, Japan, Korea, Malaysia, Singapore and Taiwan. In Mainland China, the company has nine offices and over 300 employees. Major corporate shareholders include America Online Inc., Mitsui & Co. Ltd., Nortel Network Corporation, Sun Microsystems Inc., New World Infrastructure Limited and 24/7 Media Inc. For more information about chinadotcom corporation, please visit www.corp.china.com.

 

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