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Latinia Corp. Launched by Former Terra Networks Executives; $5 Million In Financing Secured.

Business Editors/High-Tech Writers

NEW YORK--(BUSINESS WIRE)--Nov. 30, 2000

Early stage funding totaling $5 million has been received by Latinia Corporation, a new technology firm offering wireless interactive services to 250 million Latin cell phone users in Europe, the U.S. and Latin America. Investors include Paragon Investments of New York as well as a group of individual European investors. Latinia (www.latinia.com) was formed by former executives of Terra Networks (NASDAQ:TRRA) and other Internet companies in March 2000.

Using proprietary technology linked to the GSM platform, Latinia has developed and manages vertical portals accessible from any wireless device or over the Internet. The company offers mobile-to-mobile, anywhere/anytime access to e-mail, stock quotes, online retailers, weather and traffic reports, sports scores, entertainment services and news. Since launching wireless interactive services in late August 2000, Latinia has been signing up over 3,000 new cell phone subscribers daily, and now generates more than 3 million SMS messages per month. The company is currently launching its product in Italy and Portugal, countries with 35 million and 6 million wireless users respectively.

"We give wireless users virtually unlimited information and application services access to the Internet via any wireless device -- and without the need for a computer," said Marsal Gifra, Latinia's Founder, Chairman and CEO. "Our company is on track to be a key player in the mobile-to-mobile Internet industry. We're targeting a $25 billion market consisting of wireless consumers who pay for messaging, information and m-commerce services, corporations purchasing wireless applications, advertisers buying text impressions, and local carriers willing to increase their messaging volume." Gifra co-led the Americas operation for Ole.com, acquired by Telefonica Group in 1999 and folded into Terra Networks. Following Terra's successful IPO, Gifra left to start Latinia, which now has 40 employees at its offices in New York, Miami, Madrid and Barcelona.

Each of Latinia's 10 portals features original content and extensive personalization tools for Hispanic audiences. Areas such as the economy, politics, law, news, health, travel, entertainment, family, women and sports are covered. Revenue comes from traffic sharing, electronic commerce, advertising and e-services, as well as from Latinia's B2B-driven model for wireless services, the company says.

Latinia Corp. develops wireless Internet vertical platforms and owns a variety of portals ranging in content from economics to sports. The company has developed its own technology and services which provide wireless Internet access to end users and companies. Its vertical portal strategy is to combine global and local content dedicated to the Latin world, and to universalize the Latin community. Latinia has offices in New York, Miami, Madrid and Barcelona, and can be found at: http://www.latinia.com/.
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Publication:Business Wire
Date:Nov 29, 2000
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