AsiaInfo Wins Multiple Contracts from China Mobile for Provincial IP Network Build-Out; Company Reiterates Positive Outlook on Market Prospects.

Business Editors/High-Tech Writers

BEIJING, China & SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov. 1, 2001

AsiaInfo Holdings, Inc. (Nasdaq:ASIA), a leading provider of telecom network integration and software solutions in China, announced today that it has signed two contracts with Xinjiang Mobile and Yunnan Mobile, two provincial subsidiaries of China Mobile, to construct new provincial IP networks.

In addition to network design, implementation, and overall project management services, AsiaInfo will provide the customers with its IP billing software (AIOBS), messaging software (AIMC) and network management software (AISerbase). Upon the completion of the projects, Xinjian Mobile and Yunnan Mobile will be able to offer wireless data services to end users.

James Ding, president and chief executive officer of AsiaInfo said, "These contracts further demonstrate the continued strong momentum that AsiaInfo is experiencing in the rapidly growing China telecom sector. While other companies are seriously impacted by the worldwide economic slowdown and lowering their projections for the future, the Chinese domestic telecom market is insulated from the rest of the world with huge demand, which enables AsiaInfo to enjoy a sustainable growth. Furthermore, AsiaInfo's strategy suggests its less dependance on telecom equipment resale than some other companies, which implies its net revenue growth will be less impacted by the fluctuation of carriers' capital expenditure than others. We are continuing our momentum, as we intensify our focus on providing high-end software and solutions to further upgrade carriers' telecom networks. Having recently raised our financial guidance for 2001, we are very confident in the abundant near and long-term opportunities for AsiaInfo."

The two new contracts, both for initial phases of the projects, point to the expansion of China Mobile's IP network contruction in the more remote areas of the country. The two provinces, with a combined population of 60 million, are located in China's developing interior. As the government strives to narrow the economic gap between interior and coastal provinces, increasing investment is being made to develop information infrastructure in the in-land provinces. Since AsiaInfo signed a contract to build the national IP backbone for China Mobile in 2000, the company has been constructing data networks for China Mobile in over half of the total 31 provinces across the country, representing a clear market dominance in this space.

China's mobile market has witnessed rapid growth recently to become the largest mobile market in the world with a total user base of 120 million. With products and solutions that support value-added services provisioning, customer management, decision support and other back-end functions, AsiaInfo is assisting wireless services providers in capitalizing on this large and continually growing customer base.

Ding commented on the contract wins, "The wireless data market in China undoubtedly offers remarkable business opportunities for AsiaInfo in 2001 and beyond," Ding continued, "As the network coverage continues to broaden, AsiaInfo is in an excellent position to further expand network capacity and provide high-end software and solutions that maximize the value of carriers' network investment."

About AsiaInfo Holdings, Inc.

AsiaInfo Holdings, Inc. (Nasdaq:ASIA) is a leading provider of software products and infrastructure solutions for next generation network operators in China.

Its customer management and billing software products meet the complex, mission-critical provisioning, accounting, reporting and marketing needs of Internet and telecommunications service providers. The company's convergent software suite also includes carrier-scale messaging and network management products. AsiaInfo constructs backbone and access networks for China's telecom carriers while providing high-end network solutions, including operations support, network security and service applications such as IP telephony and virtual private networks.

Registered in Delaware, AsiaInfo has served as a chief architect of China's Internet infrastructure since 1995, crafting Internet backbones for all the major national carriers including China Telecom, China Mobile, China Unicom, and China Netcom.

For more information about AsiaInfo, please visit http://www.asiainfo.com

The statements in this news release contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Further information on risk factors that could affect AsiaInfo's results of operation are detailed in AsiaInfo's registration statement, as filed with the Securities and Exchange Commission. A copy of the registration statement, including exhibits, may be reviewed at the Commission's public reference room at Judiciary Plaza, 450 Fifth Street, N.W., Washington, D.C. 20549. The registration statement and other company filings can also be reviewed by accessing the Commission's Internet site at http://www.sec.gov, which contains reports, proxy and information statements and other information regarding registrants that file electronically with the Commission.