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    Panpac Media.Com Announces Acquisition Of A 25%-Stake In Financial Portal Shareinvestor.Com For S$1.1 Million; Plans To Jointly Expand Into Greater China

    BackFeb 05, 2002

    SINGAPORE, February 5, 2002 - Singapore Exchange-SESDAQ listed publisher Panpac Media.com Ltd ("Panpac Media") and one of the region's leading financial portals, ShareInvestor.com Holdings Ltd ("Shareinvestor.com"), on Tuesday announced that Panpac Media plans to acquire a 25%-stake in the Internet company for S$1.1 million in an all-share deal.

    The two companies also announced plans to jointly expand into Greater China by offering financial media content online and offline.

    Panpac Media, a leading homegrown publisher of special interest magazines with publishing activities in Singapore and Malaysia, said in a statement to the Singapore Exchange that it intends to issue to ShareInvestor.com 6.88 million new Panpac Media shares at S$0.16 cents (8.7 US cents) each, totaling S$1.1 million (US$602,093) for the investment.

    The new shares to be issued represent 3% of the paid-up capital of Panpac Media.com which will be enlarged from 220 million shares to 227 million shares of S$0.05 (2.7 US cents) each. Panpac Media.com will also be given a seat in the four-member Board of ShareInvestor.com.

    ShareInvestor.com, founded in February 2000 by medical doctor-turned-technopreneur Dr Michael Leong, fully owns ShareInvestor.com Pte Ltd which operates Singapore's leading financial portal www.shareinvestor.com. The site provides real-time stock prices, charts, news and other sophisticated features. It recorded over 15 million pageviews in traffic in January 2002 and is the finance channel for Lycos Singapore.
    Trading in shares of Panpac Media.com were suspended on Tuesday and will resume on Wednesday following the announcement of the proposed investment, which is subject to approval by the relevant authorities in Singapore.

    "This exciting partnership yields unparalleled synergies for both parties to offer online and offline financial media content seamlessly. Panpac Media has expertise in publishing with over 30 titles being offered in Singapore and Malaysia. ShareInvestor.com is acknowledged as a leading Internet finance portal with a high base of users and traffic volume," said Mr Chong Huai Seng, Vice-Chairman of Panpac Media.com.

    "We intend to jointly offer online and offline services focusing on the financial sector. Beginning in our home turf in Singapore and Malaysia, we also intend to expand into Greater China, particularly Shanghai. We know what works at home and can replicate this in China where we see tremendous opportunities," Mr Chong said.

    Panpac Media.com's publications include the financial magazine Smart Investor which is distributed in Singapore and Malaysia.

    Dr Michael Leong, Chairman of ShareInvestor.com, said: "Panpac Media.com is an established publishing company which has carved a niche for itself in offering financial news and information on smaller listed companies. We want to tap on their network and publishing network to expand within the local market and also regionally."

    "Huai Seng and I have mutual respect for each other, built up from our previous friendly rivalry. With our combined strengths, we are confident of offering sophisticated business news, data and information delivered in print and online to investors in Singapore and the region," Dr Leong added.

    About Panpac Media.com Ltd

    Panpac Media was incorporated in Singapore in October 1994. Within four years it grew to become a leading homegrown publisher of special interest magazines with publishing activities in Singapore and Malaysia. It was listed on the Singapore Exchange-SESDAQ on 29 July 1998.

    The key to Panpac Media's success lies in its ability to identify niche segments in Asia's fastest growing industries such as IT, finance and tourism. Supported by regional staff strength of 137, Panpac Media publishes more than 30 titles in three different languages in Singapore and Malaysia. The company has recently gone through a repositioning and aims to build itself as a leading regional media, marketing and communications company by way of mergers, acquisitions and strategic investments. Panpac Media.com Ltd can be found at http://www.panpacmedia.com.

    About ShareInvestor.com

    ShareInvestor.com Pte Ltd (www.shareinvestor.com), a wholly owned subsidiary of ShareInvestor.com Holdings Pte Ltd, is recognised as one of the leading financial portals in this region. It provides real-time stock prices, intraday and historical charts, DowJones and AFX newswires as well as many other sophisticated features for retail and institutional investors on a subscription basis. ShareInvestor recorded over 15 million pageviews in traffic in January 2002 and is the finance channel for Lycos Singapore

    ShareInvestors's mission is to become the platform of choice for both investors and listed companies. ShareInvestor derives its revenues from advertisements, membership services to investors as well as investor relations services to listed companies.

    Founded in February 2000 by Dr Michael Leong, the current Chairman, ShareInvestor's investors include SGX-listed Seksun Corporation Ltd and Eastgate Technology Ltd.