Hong Kong, August 21, 2000
Exclusive Global Advertising Strategic Alliance with chinadotcom's 24/7 Media Asia
— chinadotcom's' subsidiary 24/7 Media Asia, the leading provider of interactive advertising marketing solutions together with SOHU.com, (SOHU) one of China's most popular Internet portals, today announced a global agreement to provide online advertising placement services for SOHU worldwide. 24/7 Media Asia, a subsidiary of chinadotcom corporation, delivers unparalleled Internet advertising and online direct marketing solutions for advertisers and Web publishers across Asia, reaching a potential market of over 23.4 million Asian Internet users. chinadotcom, the leading pan-Asian integrated Internet company, is the first Asia Internet company to be listed on NASDAQ in July 1999. SOHU is a leading Internet communications, media and commerce company in China posting over 23.8 million page views per day with over 4.0 million registered users.
"The biggest challenge facing Internet companies in Asia today is developing the market, by working together the industry will help to establish the Internet as a broadly accepted medium for mass communication. The agreement with SOHU is significant for us as it demonstrates our commitment at 24/7 Media Asia to offer independent services across the Internet marketplace in Asia regardless of perceived competitive issues," said Peter Yip, Chief Executive Officer, chinadotcom corporation and Chairman, 24/7 Media Asia. "Together SOHU and the chinadotcom network of portals offer tremendous value to advertisers through their combined popularity in mainland China, and we are confident of providing the advertisers the best reach and marketing solutions in mainland China."
Under the agreement, 24/7 Media Asia will become SOHU's exclusive global agent to sell its advertising space. 24/7 Media Asia will use 24/7 Connect - 24/7 Media's proprietary advertising technology to serve advertisements directly onto SOHU. 24/7 Connect offers marked improvement over traditional measuring techniques allowing for efficient measurement and tracking of campaigns. 24/7 Connect also offers value-added services like one-to-one marketing and anonymous user profiling, enabling SOHU to create targeted marketing campaigns.
"Our site is an attractive advertising vehicle due to its high visibility in the marketplace and its excellent user demographics," said Charles Zhang, chief executive officer of SOHU.com. "In addition, 24/7 Media Asia's dedicated pan-Asian business strategy complements our own and their talented and experienced media professionals understand our business. We believe 24/7 Media Asia has the experience and power to effectively market our site as an important advertising property that enables marketers, web publishers and advertisers to implement revenue-generating one-to-one marketing campaigns that will truly interest our portal users."
SOHU is a leading Internet portal in China in terms of brand recognition, page views and registered users. The only exclusively Mainland China-focused portal, SOHU offers navigation/search capabilities, twelve main content channels, community services and a platform for e-commerce activities. SOHU also provides the most comprehensive directory, a fast and highly relevant keyword search, email, message board, the first Java-based chat room, and virtual communities. Its twelve branded channels cover news, sports, business and finance, real estate, IT, education, career, fashion and women, entertainment and shopping, music and games. SOHU.com successfully completed its initial public offering on the Nasdaq market in July of this year.
"Our relationship with SOHU.com is yet another demonstration of our ability to attract top quality marketing vehicles into our existing advertising network of 400 sites in Asia," added Mr. Yip. "We're confident that SOHU will provide opportunities for both 24/7 Media Asia's regional and worldwide advertising clients to reach a flourishing base of quality Asian Internet users and e-newsletter subscribers."
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 400 major website affiliates attracts a broad set of Asian advertisers and international companies interested in advertising in Asia. Over 1,000 leading global and regional advertisers and agencies have used 24/7 Media Asia's services, 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] operating under license from 24/7 Media, Inc [NASDAQ: TFSM].
About chinadotcom corporation:
chinadotcom corporation (NASDAQ: CHINA) is a leading pan-Asian integrated Internet company offering web solutions, portal and online advertising services. Through its three business units, chinadotcom provides 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 platform (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell services through online marketing (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 offices in more than 10 markets, including Japan, Korea, Australia, Hong Kong, Taiwan, Singapore, Thailand, Malaysia, and USA. For more information about chinadotcom corporation, please visit www.corp.china.com.
SOHU.com is one of mainland China's most recognized and established Internet brands and indispensable to the daily life of millions of Chinese who use the portal for their e-mail, home page, chat, messaging, news, search, browsing and shopping. Apart from continuous product and services development, SOHU.com also concentrates its efforts on making the Internet ubiquitously available, whether in the office, at home or on the road. As of this release, page views per day have reached 23.8 million and registered users total 4.0 million. SOHU.com, established by Dr. Charles Zhang, one of the pioneers of Internet in China, is in its fourth year of operation.
Safe Harbor Statement
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, SOHU.com's and chinadotcom corporation's historical and future losses, limited operating history, uncertain regulatory landscape in the People's Republic of China, fluctuations in quarterly operating results and the company's reliance on online advertising sales for substantially all of its revenues. Further information regarding these and other risks is included in each company's prospectus and in its other filings with the Securities and Exchange Commission.
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