Hong Kong, May 24, 2000
— chinadotcom corporation (NASDAQ: CHINA) today announces the promotion of Stuart Spiteri to Managing Director, Regional Operations and Business Development of its wholly-owned subsidiary 24/7 Media Asia. The move demonstrates 24/7 Media Asia's focus on capturing new opportunities offered by the rapidly developing regional online advertising market.
Mr. Spiteri previously served as Business Development Director of 24/7 Media Asia where he played a significant role in growing the 'Sell' dimension of chinadotcom's unique integrated Internet business model through geographic expansion and product rollout. Amongst other business initiatives, Mr. Spiteri was instrumental in the successful negotiation of the joint venture with Spotcast Communications, the global leader in mobile commerce (m-commerce), a move that propelled 24/7 Media Asia into the m-commerce space.
Prior to joining 24/7 Media Asia, Mr. Spiteri served as Director for the Economist Group responsible for Asia/Pacific Conferences where he successfully led the conference business throughout the region. In this capacity Mr. Spiteri applied his solid understanding of the diverse business operating environment throughout Asia to work with governments and multinational companies in promoting investment and commerce. He has also held senior positions at the China licensee company of Hallmark Cards, where he led the dramatic growth in retail outlets and sales volume.
In his new position, Mr. Spiteri will provide regional support to 24/7 Media Asia sales teams throughout the Asian Pacific region in achieving revenue targets. At the same time, he will spearhead the marketing and business development functions of the company.
Mr. Peter Yip, Chief Executive Officer of chinadotcom corporation and Chairman of 24/7 Media Asia stated, "Mr. Spiteri's appointment will further strengthen our senior management team. As demonstrated by our strong first quarter results, the 'Sell' part of the business contributed US$9.3 million in revenue, representing a 105 percent increase from the previous quarter. We will leverage Mr. Spiteri's extensive management experience and his track record of success in Asia to ensure that 24/7 Media Asia continues on its already excellent growth trajectory."
Mr. David Moore, President and Chief Executive Officer of 24/7 Media Inc., added, "I am excited by the success of our partnership with chinadotcom in Asia. The future for the online advertising market looks rosy as we will increasingly see traditional media customers willing to spend more on the Internet. I believe that Mr. Spiteri's appointment will help us capitalize on the exciting opportunities ahead in Asia."
As the leader of the online marketing industry in Asia, 24/7 Media Asia will continue to aggressively roll out innovative services for its customers. The company is committed to providing an innovative suite of online marketing solutions, including loyalty programs developed through AwardTrack (a 24/7 Media Inc. company), and wireless services through a joint venture with Spotcast Communications as well as other online direct marketing initiatives.
About 24/7 Media Asia:
24/7 Media Asia, a chinadotcom corporation company, delivers unparalleled Internet advertising and online direct marketing solutions for advertisers and Web publishers across the Asia region. Its highly targeted ad-serving network includes Greater China, the ASEAN nations, Australia, South Korea and Japan, and currently employs over 200 media professionals operating across 10 offices in 9 countries.
The 24/7 Media Asia network of over 500 major website affiliates attracts a broad set of Asian advertisers and international companies interested in advertising in Asia. Over 500 leading global and regional advertisers and agencies have signed up with 24/7 Media Asia, including Sony Corporation, Mitsubishi Motor Corporation, Compaq, Microsoft, KLM Royal Dutch Airways, Ericsson, AT&T, Hewlett Packard, Samsung, and Daewoo. 24/7 Media Asia is a wholly owned subsidiary of chinadotcom corporation [NASDAQ: CHINA] developed in cooperation with 24/7 Media, Inc [NASDAQ: TFSM].
About 24/7 Media Inc.
In Canada, 24/7 Media Inc. (NASDAQ:TFSM) has exclusive advertising sales partnerships with over a hundred popular, high volume Web sites. With offices in Toronto and Montreal, 24/7 Media is Canada's leading Web advertising network, providing clients with creative, effective Web advertising, sponsorship and direct email opportunities. The company earns its leadership position by providing convenient one-stop shopping, unbeatable customer service and expert Web marketing advice.
Worldwide, 24/7 Media Inc. is one of the largest interactive media and technology companies. Its online advertising and direct marketing networks span the globe and reach nearly 60 percent of all online users in the United States. 24/7 Mail, the world's largest permission-based, opt-in email database consists of more than 20 million profiles that can be used to deliver targeted online banner and email campaigns. For more information visit www.247canada.com and www.247media.com
About chinadotcom corporation:
chinadotcom corporation (NASDAQ: CHINA) is a leading pan-Asian Internet company offering web solutions, portal and online advertising services. Through its three business units, chinadotcom is able to provide a full range of Internet services around the Asia Pacific region 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).
Fuelling the growth of each of these three business units is a synergistic investment strategy that leverages on chinadotcom's existing operational and cost infrastructure.
By partnering with companies that have proven and successful track records, such as America Online, Softbank Investment Strategic, Trans Cosmos and Agence France Presse. chinadotcom is well-positioned to create long term shareholder value through its investments.
The company has over 1,600 employees in 24 offices across 10 Asian markets, including Japan, Korea, Australia, Hong Kong, Taiwan, Singapore and Malaysia. In Mainland China, the company has 12 offices and over 500 employees. For more information about chinadotcom corporation, please visit www.corp.china.com.
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