hongkong.com Takes 30% Stake in iNFOiSLIVE.com Limited to Provide Mobile WAP Services

Single largest corporate investor in iNFOiSLIVE.com Limited with ability to deliver wireless communication, interactive entertainment and commerce to Asia

hongkong.com Corporation (www.hongkong.com; stock code: 8006) announced today that through its 30% stake in iNFOiSLIVE.com Limited, a leading Wireless Application Services Provider in Hong Kong, it will be able to offer portal-enabled interactive mobile WAP services to all mobile users in Hong Kong.

In this move, hongkong.com will possess the technology through iNFOiSLIVE.com to provide leading-edge WAP services through different media, both mobile and non-mobile. These media include WAP phones, Personal Digital Assistants (PDAs) and WebTV. Content of different natures, formats and interactivity can be delivered to users. Potential applications can be based on communication modes such as mobile ICQ and email; entertainment such as horoscopes; and commerce such as mobile shopping. The hongkong.com portal-enabled WAP services for mobile users are expected to go online later this year.

hongkong.com is the single largest corporate investor iNFOiSLIVE.com with its 30% stake. It also holds a board seat.

"This announcement marks a very exciting step in mobile connectivity and the way people communicate. hongkong.com users will be the first to experience the convenience and power of connecting to the Internet anywhere, anytime," said Rudy Chan, Chief Executive Officer of hongkong.com Corporation. "As one of the most popular portals in Hong Kong with an Asian focus, hongkong.com is committed to implementing its 3 "C" strategy encompassing content, community and commerce, creatively exploring new means of delivering its services to users. I see the WAP phone as a new medium that enables hongkong.com to deliver on this promise. We are happy to be bringing the latest in mobile and Internet technology to Asia through this investment and partnership with iNFOiSLIVE."

"Hong Kong has one of the highest mobile phone penetration rates in the world. The active and on-the-move Hong Kong communication users offer a tremendous growth market for iNFOiSLIVE's mobile applications and services. In partnership with hongkong.com, we are looking forward to providing hongkong.com users and its Asian partners with the latest in mobile connectivity technology to enhance their everyday lives," said Kin Ko, Chief Executive Officer of iNFOiSLIVE.com Limited.

Industry figures report that Hong Kong has the highest penetration rate of mobile phones in Asia with 56 phones per 100 people. iNFOiSLIVE's WAP services are currently available through five mobile operators in Hong Kong - C&W HKT, Hutchison Telephone, New World, Peoples and SmarTone.