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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (662)	3/25/2001 5:59:22 PM
From: ms.smartest.person	Read Replies (1) of 2248

Internet Tycoon Stanford Degree Controversy Intensifies March 24, 2001 Dow Jones Newswires Dow Jones Newswires HONG KONG (AP)--The controversy over Internet tycoon Richard Li's educational background intensified after he acknowledged that two company listing documents erroneously stated that he received a degree from Stanford University. Li previously admitted that his Internet and telecoms company, Pacific Century CyberWorks (H.PCW), made errors about his educational background on its Web site and publicity materials. However, he said the mistakes weren't included in any legal documents. But late Friday, his company issued a statement saying that Li asked the companies to correct his educational background information. The statement didn't name the companies. "Mr. Li has contacted the companies concerned and asked them to take all necessary and appropriate actions," the statement said. CyberWorks said it only has a "very minor equity stake in one of those companies and no longer holds a minority stake in the other company." It stressed the companies were not CyberWork's companies and explained that the company had no connection with the filings. Documents filed last year to the U.S. Securities and Exchange Commission by Rediff.com India Ltd. (REDF) displayed on the Internet said that Li holds a degree in Computer Engineering from Stanford University. Also, the listing document of Singapore-listed Mediaring.com (P.MRM) said Li graduated with a Bachelor of Science degree in Electrical Engineering from Stanford. Li says both claims are wrong. Li is a non-executive director of Rediff.com and was previously a non-executive director of Mediaring.com. The Associated Press called Mediaring.com and Rediff.com but got no immediate response. Li was prompted to acknowledge publicly Thursday that he didn't graduate from the prestigious California university after the International Herald Tribune reported that the university has no record of him obtaining a degree there. Li also said Thursday that all of his company's legal documents, such as those given to the Hong Kong Stock Exchange, only said he was educated at Stanford but not that he received a degree there. -------------------------------------------------------------------------------- URL for this Article: interactive.wsj.com -------------------------------------------------------------------------------- Copyright © 2001 Dow Jones & Company, Inc. All Rights Reserved. Printing, distribution, and use of this material is governed by your Subscription Agreement and copyright laws. For information about subscribing, go to wsj.com Used with permission of wsj.com

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