MYWB looks like very good PR;
(BSNS WIRE) MyWeb Inc.com: An Emerging Success Story in Emerging Markets
MyWeb Inc.com: An Emerging Success Story in Emerging Markets
Business Editors & Technology Writers
NEW YORK--(BUSINESS WIRE)--May 19, 1999--A little-known New
York-based company has become a major player in Internet, e-commerce
and telecommunications operations in Asia, primarily through a series
of strategic alliances in the last two months which have positioned
MyWeb to become "the AOL (NYSE:AOL) of Asia."
MyWeb Inc.com (OTC BB:MYWB), as the company has been known since
changing its corporate name from Asia Media Communications Ltd. last
month, provides the MyWeb Online Service in many countries in Asia.
Most recently this includes MyWeb Online Service China (MOS China),
unveiled this week at the China Internet Conference & Exhibition '99
(ChinaInet '99) in Beijing. That exhibit, a centerpiece of China's
Ministry of Telecommunication's efforts to support the Internet,
expects 5,000 conference attendees and 50,000 visitors.
MyWeb produces a system that allows customers throughout Asia to
use their television sets to connect to the Internet via a
MyWeb-produced set-top box, used with a remote control or wireless
board.
In some respects, the MyWeb system parallels Microsoft's WebTV
operation, which Microsoft acquired two years ago for $415 million.
But MyWeb's focus is on emerging markets; while WebTV operates
primarily in the United States."
China's current base of Internet users -- estimated at 2 million --
is projected to grow to 10 million by next year, aided by the Beijing
government's strong emphasis on Internet access in Chinese residences
and businesses. So MyWeb is well-positioned to become the leading
Internet brand in China, making its name and brand synonymous with
quality Internet access and relevant content and useful applications
on the Web portal.
All major Internet players in China, including those mentioned
below, support MyWeb's initiatives. The company's recent corporate
name change to MyWeb Inc.com is a forward move by the company to
promote and create awareness of the MyWeb brand and to increase the
company's visibility.
The importance of the Chinese market can't be overstated. The
economy in China has been described in The Wall Street Journal as "the
world's largest emerging economy" (April 14, 1999). CNET's (Nasdaq:CNET)
news.com reported on March 31, 1999 that "China is by far the single
largest market of potential PC users on the planet."
MyWeb's set-top box solution, however, bypasses the need for
Chinese consumers to purchase a relatively expensive personal
computer. Instead, given the prevalence of TV sets throughout China
(estimated at 320 million), the purchase or monthly leasing of MyWeb's
set-top boxes provides an inexpensive, readily accessible means for
Chinese businesses and families to connect to the Internet.
"The MyWeb Story" is one of careful, deliberate positioning of
the company in recent months to capitalize on the explosion of
Internet usage in China. With an anticipated 10 million Internet users
next year, China would rank second only to the United States,
according to Far Eastern Economic Review.
And with recently announced programs by the Beijing government to
have at least 80 percent of all local governments in China linked to
the Internet by the end of 2000, with 80 percent of all Chinese
companies wired by 2001, MyWeb, according to Wong, "stands at the
forefront of the exploding Internet market in China, as well as the
rest of Southeast Asia."
MyWeb is headquartered in New York City, with operational and
representative offices in Singapore, Malaysia, China, Europe and South
America. T.S. Wong, the company's CEO, maintains his principal office
in Kuala Lumpur for ready access to his emerging markets.
The statements made by MyWeb Inc.com may be forward looking in
nature. Actual results may differ materially from those projected in
forward-looking statements. MyWeb Inc.com believes that its primary
risk factors include, but are not limited to: the need for substantial
financial requirements; the need to develop effective internal
processes and systems; the ability to attract and retain high-quality
employees; changes in the overall economy; regulatory policy; and the
mix of product and services offered in the company's target markets.
Merger Communications is a media-relations firm employed by the
Company. The statements and opinions presented here represent the
views of the Company. Merger and the Company believe that all
information in this release presented herein is accurate or complete.
Merger's compensation for its media- relations services, including
preparation of press releases, consists of a monthly retainer and
warrants for the purchase of the Company's stock. Merger may have a
long position in the securities of the companies in which it
distributes information to the media, and Merger may be buying or
selling securities in the course of its regular business.
-0-
*T
A Pattern of Success Sidebar
In recent weeks, MyWeb has consummated a number of strategic
alliances with major Internet providers in China, as well as with
several leading television and computer manufacturers there. These
include:
-- An agreement with Beijing Telecom to jointly deploy 200,000 units
of MyWeb's set-top boxes in 1999, through a combination of rental
and leasing. This pact will enable MyWeb to expand its set-top
box base from 15,000 at the beginning of 1999 to an estimated 1
million in 2000.
-- An alliance with Soyea, part of the West Lake Electronic Group,
for the licensing of MyWeb's Thunder client software. West Lake,
which produces 1.6 million TV sets annually, is one of China's
largest TV manufacturers.
-- An affiliation with the Lang Chao Computer Co., maker of China's
third-largest selling computer brand in 1997, to develop
MyWeb-labeled set-top boxes for distribution and use in China.
(The alliances with Soyea and Lang Chao ensure that the boxes,
manufactured in China, will not be subject to import tariffs.)
-- Alliances to be announced at ChinaInet '99 with Masslink,
NetChina and ChinaNet, which will ensure that the MyWeb Online
Service China will become the highest-trafficked Web portal in
China. This results from MOS China's being adopted as the default
opening Web page of these independent ISPs, while ChinaNet will
jointly market and promote the portal with MyWeb. (The agreement
with ChinaNet is believed to be ChinaNet's first co-marketing
venture with any company.)
*T
MyWeb is also importantly involved in e-commerce, the marketing
and sale of goods and services over the Internet. Through its MOS
feature, MyWeb provides native language Internet portal services in
all its markets, enabling it to specialize in online sales of consumer
products, using the applicable language and offering goods and
services that are appropriate for each market. MyWeb's e-commerce
volume is currently growing by more than 100 percent each quarter,
with projections of $1 million per month this year in consumer goods
alone.
Elsewhere in the Pacific Rim, MyWeb is clearly positioned as the
market leader, with dominant positions in Hong Kong, Singapore and
Malaysia.
--30--AR/na*
CONTACT: Merger Communications Inc., Houston
David Drake, 713/267-2328
or
MyWeb Inc.com, New York (For Investment Inquiries)
Randy Slifka, 212/350-5025
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