Web Connection Boosts Business-to-Business (B2B)and Financial Services Industry Practice Team

Former Citibank and Standard Chartered Executive Panandiker as Director of Financial Services Industry Practice for SE Asia


Hong Kong, June 28, 2000

Web Connection, Asia's leading e-business integrator and a wholly-owned subsidiary of chinadotcom corporation [NASDAQ: CHINA], has named Vibhav Panandiker as Director to head its Financial Services Industry Practice in Southeast Asia. Panandiker has also been appointed as Strategy Director for Web Connection's Singapore office.

The appointment of Panandiker boosts Web Connection's Financial Services Industry Practice team in the region, which has Leslie Day as Director responsible for the overall Asia region.

Web Connection's Financial Services team provides comprehensive e-business solutions to consumer and commercial banks, brokerages and insurance companies. The practice leverages Web Connection's core competencies of blending digital strategy, technology integration, creative services and online marketing to help clients create a winning online presence and to deliver leading-edge strategies and services.

"We have witnessed a tremendous demand in the financial, banking and insurance sectors as they shift gears from their traditional bricks and mortar operations to take advantage of the opportunities offered by new channels," said Steve McKay, President and Chief Operating Officer of Web Connection.

"Vibhav will be a great addition to the team as he brings valuable banking expertise to our financial services practice, especially for B2B services. As a trained banker and strong advocate of e-commerce as a necessary tool in banking, Vibhav will provide in-depth industry knowledge to our financial services clients to enable them to launch innovative

e-banking services. He brings a valuable depth of experience in commercial B2B banking services that are in huge demand with our clients," concluded McKay.

"Banks, financial institutions and insurance companies are undergoing a dramatic shift in the way they do business and provide services to their customers today," said Panandiker. "These organisations must quickly adapt to the changing competitive landscape - strategically and flawlessly. The Web Connection intends to help them to develop their

e-business strategies and to smoothly transition into the new economy."

Prior to joining the Web Connection, Panandiker was part of Citibank's Global Payments project team which conceptualised the bank's e-commerce strategy for Asia-Pacific. Later, as the bank's Director of E-commerce, Panandiker led his project team to develop and launch two business-to-business solutions (electronic bill presentment and payment) under the Citibank CitiCommerce.com brand in five countries. He joined Citibank in Singapore in December 1996.

Before Citibank, Panandiker was the Country Product Manager at Standard Chartered Bank in Mumbai, India, where he set up a centralised facility for the bank's cash management operations. He has also worked in Delhi and Chennai.

Panandiker has an MBA in Finance from the Indian Institute of Management, Bangalore, India. He also has a Masters in Economics from Birla Institute of Technology and Science and a Bachelors degree in Electrical and Electronics Engineering.


About Web Connection

Established in Hong Kong in 1995, Web Connection, a chinadotcom corporation subsidiary, offers Internet strategies and solutions for major corporations and dot-coms that recognise the power of the Internet as a business platform and customer relationship management channel. Web Connection brings together a rare blend of core competencies - digital strategy, technology integration, creative design and e-marketing - which represents the core ingredients of a winning e-business solution.

Major clients include HSBC, GE, Cathay Pacific, Mandarin Oriental Hotel Group, KLM, IBM, Epson, Samsung and Cisco Systems. The Web Connection has over 750 staff across Asia-Pacific with offices in Hong Kong, China, Singapore, Japan, Taiwan, Korea, USA and Australia. For more information, please visit www.twc-asia.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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