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OgilvyInteractive and AsiaNetCorp Join Forces in Asia Strengthening Ogilvy's Number One Position in Internet Market.

Business Editors & High-Tech Writers

HONG KONG--(BUSINESS WIRE)--July 5, 2000

OgilvyInteractive, a subsidiary of Ogilvy & Mather has formed a joint venture with AsiaNetCorp called Ogilvy AsiaNet.

The new operation, which will initially operate in Hong Kong and Korea with plans for expansion into other Asian markets including Taiwan and China, strengthens Ogilvy's number one online advertising and marketing position in the Asian Internet market.

The JV will combine the two companies' strengths, skills and expertise to provide clients with total e-marketing solutions from online advertising, e-commerce to program execution and fulfillment. The JV will leverage AsiaNetCorp's extensive experience and technical know-how in Internet-related businesses including online media and marketing services to bring full integration of strategic planning, creativity, marketing, technology and analysis in a branded, 360 degree environment for which Ogilvy is best known.

AsiaNetCorp is a leading Internet holding and management company which invests in, develops and manages a network of Internet-related companies across Asia, with a primary focus in South Korea and Greater China. Its group consists of 19 companies in three major businesses of Internet enabling technology (web application server, e-business platforms, e-customer relationship management, search engines, wireless Internet and 3-D virtual reality etc), Internet media and advertising, and e-commerce.

OgilvyInteractive is Asia's largest interactive network with services in 13 cities in 12 countries. It works with some of the world's best-known and most-respected companies such as American Express, Unilever, IBM, Kimberly-Clark, Nestle and Jaguar.

Globally, OgilvyInteractive is the world's largest interactive network, with interactive agencies in 41 countries spread across five continents. In the past two years, OgilvyInteractive has been recognized as the industry's creative gold standard, winning twice as many interactive creative awards as its nearest competitor. This included winning the Cyber Lion Grand Prix -- the top interactive award at the most prestigious awards show, the Cannes Festival.

"The JV is a winning combination of OgilvyInteractive's expertise in Internet advertising with AsiaNetCorp's expertise in Internet-related businesses and proprietary technologies," said Mr. Dennis Lui, President and Chief Executive Officer of AsiaNetCorp. "AsiaNetCorp will benefit from Ogilvy's renowned brand understanding, creative excellence and access to the bigger marketing picture through Ogilvy's 360-degree Brand Stewardship. At the same time our marketing experience and software tools and web total solutions which are the backbone and platform of Internet business will benefit the JV and open up new opportunities for e-marketing."

"The JV with AsiaNetCorp gives OgilvyInteractive a partner of perfect fit," commented Miles Young, Chairman of Ogilvy & Mather Asia Pacific. "It gives our clients major benefits and capitalizes on our breakneck growth last year."

"AsiaNetCorp's portfolio is an ideal fit with the OgilvyInteractive offering," Young continued. "We have worked with Dennis and his people before and there is a compatibility and fit which goes back many years. Our aim together is to create the leading position in the 'Internet ecosystem' -- the total picture from front-end design to back-end service -- and this arrangement puts us solidly in that position. AsiaNetCorp has a range of highly complementary Internet-related businesses and has highly competitive proprietary technologies. Leveraging these, the JV can mobilize processes and resources to provide total web solutions for our clients."

About Ogilvy & Mather

Ogilvy & Mather, a subsidiary of WPP (Nasdaq:WPPGY), is Asia Pacific's largest agency network, and was voted Agency of the Year 1998 and 1999. It is the world's tenth largest agency, with 1999 billings of U.S.$8.8 billion. The Ogilvy network offers the full range of marketing communication disciplines including advertising, direct marketing, interactive media, media planning and buying, database management, telemarketing, directory services, public relations, sales promotion, graphic design, and related marketing disciplines. Ogilvy's network includes over 120 offices in 17 countries across Asia Pacific, and 377 offices in 97 countries worldwide. OgilvyInteractive is the only real worldwide interactive network, with a presence in 41 countries. WPP is the world's leading communications services group, with an annual billing of U.S.$37 billion and revenues of U.S.$4.8 billion in 1999.

About AsiaNetCorp Ltd.

AsiaNetCorp Ltd. is an Internet holding and management company in Asia which invests in, develops and manages a network of e-business solutions and Internet companies in Asia Pacific with primary focus in South Korea and Greater China (China, Hong Kong SAR, and Taiwan). AsiaNetCorp holds a majority stake in its key Portfolio Companies and actively participates in their management to optimize operation efficiency and maximize investment return. The three core businesses of AsiaNetCorp's are Internet enabling technology, Internet media and advertising, and e-commerce.
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Publication:Business Wire
Date:Jul 5, 2000
Words:747
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