Hong Kong, July 4, 2000
Award is Given as chinadotcom corporation's sister portal china.com Becomes First in China to Announce Results of Independent Web Audit
— chinadotcom corporation [NASDAQ: CHINA; Website: www.corp.china.com], the leading pan-Asian integrated Internet company, announced today that its leading Hong Kong portal, hongkong.com, listed on the Hong Kong Growth Enterprise Market (GEM), recently won the Outstanding Information Technology & Financial Enterprises Award in the category of Best Internet Content Provider from Capital Magazine, a local leading business publication.
This Best Internet Content Provider Award for hongkong.com recognizes the success of the hongkkong.com portal in serving the Hong Kong online community.
Reinforcing its first mover status in Asia, chinadotcom recently became the first Internet company in China to announce the results of an independent Web Audit, which was undertaken by PricewaterhouseCoopers. By using a stringent definition of "pageview" for a portal business model, china.com portal's average daily pageviews, which is supported by the PricewaterhouseCoopers Web Audit, was 10.6 million for the period between May 19, 2000 and June 18, 2000.
Said Peter Yip, Chief Executive Officer of chinadotcom corporation, "Our hongkong.com portal has always been a leader in providing bilingual, rich and compelling content. Our china.com portal is the Number 1 fastest growing portal in China, as shown by our solid pageview counts. We appreciate this public recognition of the leadership role our portals play in enabling and empowering the digital communities of Asia."
Said Rudy Chan, Chief Executive Officer of hongkong.com, "hongkong.com is proud to be presented with this award. It not only recognizes the enormous contribution we have made to the IT industry, but most importantly, it proves our content and services are extremely popular with our users. We will continue to increase the number and depth of our content channels, expand the number of community products, and extend the range of products available for online purchase, in order to better meet the needs of our users."
Said Louis Pang, Executive Director of Capital Magazine & Capital Web Site of South China Media Limited, "The finance and information technology sectors are the two most important industries in Hong Kong today. The objectives of these awards are to recognize enterprises and individuals
who have made substantial contributions to the finance and information technology industries in Hong Kong, and to encourage the elite of both industries to continue their efforts so that Hong Kong may always enjoy a prosperous economy."
Jointly organized by Capital Magazine and its web site, www.capital-hk.com, the Outstanding Information Technology & Financial Enterprises Award recognizes and promotes high achieving enterprises in the IT and finance sectors which contribute significantly to the Hong Kong economy.
hongkong.com won this award against stiff competition from hundreds of other companies nominated for the awards. The criteria for the award is based upon online public voting, Capital Magazine's editorial team and a panel of judges.*
*The panel of judges consisted of renowned and experienced scholars and businessmen in the fields of IT and finance. They are Dr. Eddy S.H. Li, Chairman of Hong Kong Economic & Trade Association Limited, Dr. Eden Woon, Director of Hong Kong General Chamber of Commerce, Prof. K.C. Chan, Associate Dean, School of Business & Management, Hong Kong University of Science & Technology, Mr. Thomas Tang, Executive Director of Hong Kong Productivity Council, Mr. Robert H.S. Ng, Chairman of South China Holdings Ltd.
About chinadotcom corporation
chinadotcom corporation (NASDAQ: CHINA; Website: www.corp.china.com) is a leading pan-Asian integrated 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, Trans Cosmos and Agence France Presse, chinadotcom is well-positioned to create long term shareholder value through its investments.
The company has over 1,900 employees in 24 offices across 10 markets, including Japan, Korea, Australia, Hong Kong, Taiwan, Singapore, Thailand, Malaysia, and USA. In Mainland China, the company has 12 offices and over 500 employees. For more information about chinadotcom corporation, please visit www.corp.china.com.
About hongkong.com Corporation
hongkong.com has established strategic alliances with a number of prominent, internationally recognized businesses including AOL, Netscape, 24/7 Media Asia, RealNetworks, Visitalk.com, Xinhua News Agency, Agence France-Presse, Reuters and Stockhouse.com. They offer content, technology and distribution capabilities as well as marketing, e-commerce and cross-promotional opportunities. Main channels available on hongkong.com include technology, finance, beauty, sports, entertainment and the cityguide.
hongkong.com has been recently awarded The Best Content Provider by Capital Magazine. As one of the leading Hong Kong portals, hongkong.com achieved 3.2 million daily page views. With efforts to build online communities, encouraging a wider user base, effective marketing campaigns and 22 vertical channels of localized content, hongkong.com has acquired 1.1 million registered subscribers, a more than 44% increase from 760,000 registered subscribers in the fourth quarter of 1999.
Partnering with world recognized advertisers including IBM, KLM, HKMA and Compaq, hongkong.com has already generated significant growth in revenue from its online advertising opportunities. As hongkong.com's e-commerce operation continues to develop regionally and globally, it will strengthen hongkong.com's position as one of the preferred advertising sites.
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 results of operations is detailed in chinadotcom corporation's registration statements, as filed with the United States Securities and Exchange Commission.
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