Citibank Launches American Depositary Receipt Program for WHEREVER.net.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 5, 2000

Citibank Depositary Receipt Services announced today that it has established an American Depositary Receipt (ADR) program for WHEREVER.net Holding Corporation, an international provider of high quality telecommunications services and products based in Hong Kong. The ADR shares will trade on the NASDAQ under the symbol "WNET" (CUSIP#96328M 10 4). Each ADR issued represents one ordinary share.

"Citibank is delighted to establish an ADR program for WHEREVER.net," said Kurt Schneiber, Global Managing Director, Citibank Depositary Receipt Services. "The support provided by the listing will enable WHEREVER.net to continue its growth as a leading international provider of telecommunications services and products."

"This ADR program assists WHEREVER.net 's efforts to build our company profile through increased visibility and an expanded shareholder base," said Chris Lee, Chairman, WHEREVER.net Holding Corporation. "Citibank's guidance and expertise in establishing this ADR program have been remarkable."

WHEREVER.net offers high quality telecommunications services and products over its privately managed network which links 54 points of presence or "POPs" in six countries, including China, Taiwan and the United States. The company enables users to make low cost calls by utilizing advanced network communications standards known as Internet Protocol or IP to transmit voice over its network. Since its founding in 1994, the Company has developed technology capable of ensuring communications quality comparable to traditional fixed line calls. Its current portfolio of IP telecommunications services and products includes communications services, virtual private networks and phone cards.

Citibank Depositary Receipt Services leads the market in bringing quality issuers to market and promoting ADRs as an effective capital markets tool. Citibank began offering American Depositary Receipts in 1928 and today is the market leader, widely recognized for delivering high quality, highly liquid programs to our customers. Additional information can be found at http//www.citibank.com/adr.

Citibank Depositary Receipt Services is a part of Citibank Worldwide Securities Services (WWSS), a division of Citigroup's Global Corporate and Investment Bank. WWSS serves global issuers, investors and intermediaries through the industry's largest proprietary network, spanning 51 countries and territories. It currently provides securities services to more than 2,500 customers worldwide and has $3.9 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in quality depositary receipt services, and agency and trust services.

Citigroup (NYSE:C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 102 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citigroup and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit and Primerica under Citigroup's trademark red umbrella.

Information contained herein is a matter of record only. It should not be construed as advice or a recommendation by Citibank.