Hong Kong, May 25, 2000
— chinadotcom corporation ( NASDAQ: CHINA; website www.corp.china.com ), today announced sales of shares by two of its principal shareholders. New World Infrastructure Limited and 24/7 Media, Inc. ( NASDAQ: TFSM ) sold 2.675 million and 400,000 chinadotcom shares respectively in May 2000.
The shares were sold on the NASDAQ market.
In connection with the sales, New World Infrastructure and 24/7 Media have entered into agreements with chinadotcom corporation whereby they will not sell any additional shares for a period of 90 days following the recent sales without the consent of chinadotcom corporation.
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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