Hong Kong, November 1, 2000
TIME Asia content to be available in Chinese on chinadotcom's mainland portals
— chinadotcom corporation (NASDAQ: CHINA; Website: www.corp.china.com), the leading pan-Asian integrated Internet company, has announced the signing of a deal with Time Inc. Asia to publish content from TIME Asia (www.timeasia.com) in Chinese. chinadotcom is the only Internet company in mainland China* to have the exclusive rights to publish content from TIME Asia on its portals.
The licensing deal allows chinadotcom corporation to distribute, exhibit and publish articles from TIME Asia. The selected content will be published on chinadotcom corporation's mainland Chinese portals: cww.com and china.com. A jointly-appointed editorial board will monitor and evaluate the content for the co-branded site. To cater to chinadotcom's audience, articles will be available in simplified Chinese.
"This landmark deal between chinadotcom corporation and Time Inc. Asia gives our audience access to the exemplary journalism for which TIME magazine is known," said Peter Yip, Chief Executive Officer of chinadotcom corporation. "We believe chinadotcom's association with TIME's strong editorials and high-quality news coverage on the region will strengthen our localized content integrity, delivery and reach."
"We will build on Neilsen//NetRatings' inaugural poll results released last week that reported that Hong Kong Internet users had made chinadotcom's portals the "stickiest" by staying on its portals the longest. We will continue to stretch our industry leadership in creating value-added services to our users. As online advertising expenditures increase, this "stickiness" measurement becomes even more important for advertisers deciding on with whom to advertise and what rates to pay. This deal enriches our portal content and should also add to our portals' "stickiness." It is yet another example of chinadotcom corporation's commitment to creating long term shareholder value," added Mr. Yip.
The deal also further strengthens chinadotcom corporation's portal platform position as the fastest-growing portal in China. The company has rapidly and successfully expanded its portal network user base to 21 million "quality" average daily pageviews and 6.3 million registered users as of July 31, 2000. In a continuing demonstration of its first mover status, chinadotcom corporation became the first Internet company in China when it announced earlier this year an independent audit of its pageview numbers by international accounting firm PriceWaterhouseCoopers. While all other China portals report pageview numbers with no explanation of how their numbers were derived, chinadotcom leads the way in transparency in the Internet industry by clearly and realistically defining how its pageview numbers are derived and having them audited by an independent third party.
Mr. Andrew Butcher, Publisher of TIME Asia, said, "We're pleased to enter into this agreement with chinadotcom corporation. By leveraging on chinadotcom's position in the Internet industry and its comprehensive user base, TIME Asia will be able to reach China's rapidly-growing online community in China - extending the TIME brand to the country's 12 million Internet users as measured by iamasia in June 2000."
*Excluding Hong Kong and Macau. Also excludes Time Inc.'s existing online relationships in China.
About chinadotcom corporation
chinadotcom corporation (NASDAQ: CHINA; Website: www.corp.china.com) is a leading pan-Asian 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 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 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, chinadotcom is well positioned to create long term shareholder value through its investments.
The company has offices across more than 10 markets, including Japan, Korea, Australia, Hong Kong, Taiwan, Singapore, Malaysia, Thailand, and the USA. For more information about chinadotcom corporation, please visit www.corp.china.com
About TIME Asia
TIME is Asia's largest English-language weekly magazine, with a circulation of almost 313,000. Its worldwide circulation is more than five million. It is published by Time Inc.
Time Inc. is the publishing arm of Time Warner, the world's largest entertainment and media group. Founded in 1922 the company has grown to include more than 30 magazines and is also a leader in book publishing. Time Inc. Asia, based in Hong Kong, publishes ASIAWEEK and the Asian editions of TIME and FORTUNE as well as Japanese-language President, Dancyu and Bises. Chinese-language ventures include FORTUNE CHINA, TIME Express, TIME Digest and TIME for Students.
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 and annual report, as filed with the United States Securities and Exchange Commission.
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