Hong Kong, June 9, 2000
New MD Sandy Kwong joins newly realigned management team ready to capture even larger sales in booming online ad market
— chinadotcom corporation [NASDAQ: CHINA; Website: www.corp.china.com], the leading pan-Asian integrated Internet company, has announced the appointment of Sandy Kwong as Managing Director, Greater China, of its wholly-owned subsidiary 24/7 Media Asia.
Sandy joins her colleagues Allan Hyde, Managing Director of Australia and Southeast Asia, Stuart Spiteri, Managing Director of Regional Operations and Business Development, and Rex Mai, Managing Director of China, in a realignment of the management team aimed at expanding 24/7 Media Asia's leadership position in the booming online advertising market in the region. This promotion from her current position as Director of Portal Sales for chinadotcom corporation comes as the Asia Pacific* online advertising market is set to grow at a 76% compound annual growth rate, from US$67 million in 1999 to US$1.15 billion in 2004, according to IDC.
Prior to joining chinadotcom corporation, Sandy was at Hachette Filipacchi Media, where she was the Group Publisher for both the Hong Kong and China markets, managing top brand publications such as ELLE, Car and Driver, Woman's Day, BMW, and Air China. While at Hachette, Sandy maintained ELLE's position as the number 1 consumer market leader and exceeded overall group revenue targets, in spite of the severe economic downturn throughout Asia. She is also credited with establishing and training local sales forces in Beijing and Shanghai, China.
In addition to publishing, Sandy also has extensive experience in advertising, serving as General Manager and Media Director of TBWA Thompson and Leo Burnett respectively. While at TWBA, she was directly responsible for the launching of the successful ad campaign on Virgin Atlantic Airways' entry into the region, winning a HKMA prize for the originality and quality of the campaign. At Leo Burnett, she handled premium accounts such as Phillip Morris, for which a Product Diversification Campaign was developed.
In her new role as Managing Director, Greater China, Sandy will oversee the strategic implementation of plans for growing the market share, increasing the market awareness, and expanding the revenue targets for portal advertising sales in China, Hong Kong, and Taiwan.
Said Peter Yip, CEO of chinadotcom corporation, "I am delighted to announce Sandy's promotion, and look forward to working with her to develop new creative buying strategies and expand our global clientele in this rapidly growing market. With her excellent experience in both publishing and advertising, I fully expect us to further strengthen our position as the number 1 online advertising network in Asia."
About 24/7 Media Asia
24/7 Media Asia, a chinadotcom corporation company, delivers unparalleled Internet advertising and online 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 attract 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 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 markets, including USA, 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.
Safe Harbor Statement
The statements in this news release, other than the historical financial information, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Further information on risk factors that could affect chinadotcom corporation's result of operation is detailed in chinadotcom corporation's registration statements, as filed with the Securities and Exchange Commission.
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