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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: $Mogul who wrote (9683)	6/25/1999 1:56:00 PM
From: Investor Clouseau	Respond to of 108040

(COMTEX) B: America Online Inc. Announces Strategic Investment in Chi B: America Online Inc. Announces Strategic Investment in China.com DULLES, Va., Jun 25, 1999 (BUSINESS WIRE via COMTEX) -- America Online, Inc. today announced that it has made a strategic investment inChina.com Corporation, a pan-Asian Internet company operating portals, Internet advertising and Web solutions businesses throughout Asia, as part of a series of actions that will strengthen its involvement in the AOL Hong Kong service to be launched later this year. AOL has acquired a 10% equity interest, along with warrants to purchase an additional 15% interest in China.com in the future. AOL has the right to designate a director to the Board of Directors of China.com Corporation. Bob Pittman, President and Chief Operating Officer of America Online, Inc., stated, "Our investment in China.com represents a strengthening of our commitment to the forthcoming AOL Hong Kong service. In addition, Asia is a fast-growing market for the Internet and the Chinese language audience will be an important component of our future growth. This investment will provide yet another way that we will participate in that new market." Jack Davies, President, AOL International, said, "We look forward to working with China.com as we further establish our presence in the Asia-Pacific region with the launch of AOL Hong Kong with our partner China Internet Corporation later this year. This investment in China.com capitalizes on an opportunity to further strengthen our relationship with this family of companies." In addition to its new role in the AOL Hong Kong Service and Website, China.com provides users in the People's Republic of China, Hong Kong and Taiwan, the Republic of China with content services, online community products, and e-commerce through its portals located at www.china.com, www.cww.com, www.hongkong.com and www.taiwan.com. Each portal offers a unique combination of content delivery services such as search engines, directories and localized information; community products such as e-mail, chat and message boards; and e-commerce products. The company also offers Internet advertising services through an alliance with 24/7 Media, Inc. to advertisers and direct marketers in Greater China; Japan; South Korea; Singapore; the ASEAN nations; India; and Australia. In addition, China.com provides businesses throughout Asia with Web solutions including strategic consulting; technology integration; creative design; online integrated marketing; and web-hosting and maintenance. China.com has announced that it has filed a registration statement with the SEC to conduct its intial public offering and listing on Nasdaq. About America Online, Inc.