ASIAN FINANCIAL SECTOR SEES FOURTH DEFECTION TO ASIALLIANCE.COM

FOR IMMEDIATE RELEASE                           Feb. 28, 2000
CONTACT: PETER LINDSEY +(852) 2236-7777

ASIAN FINANCIAL SECTOR SEES FOURTH DEFECTION TO ASIALLIANCE.COM

(HONG KONG) AsiAlliance.com today announced the appointment of Mark Leahy as Vice President - Strategic Development. Mark's role within the company is to maximize the potential of AsiAlliance's portfolio of resources and strategic partnerships, pursue and structure new alliances and devise policies that marshal AsiAlliance's assets and talents towards the company's strategic goals.

Mark is a key acquisition and quite a coup for AsiAlliance," said Charles OFlaherty, the companys President and CEO. It speaks volumes to the fact that the stars" of the banking world have seen the future and realize that Wall Streets glory days are behind us... the future is on the 'Net."

Leahy joins AsiAlliance.com from the HSBC Group, one of the world's largest banks, where Mark has eight years experience as an International Officer. Mark has on the ground experience around the globe having spent four years in Hong Kong as well as working in Taiwan, Japan, Qatar, London and New York. Mark spent three years in commercial banking roles including trade finance operations, marketing and corporate credit analysis.

In 1995, Mark specialized in treasury and capital markets and was responsible for producing and implementing the strategic plan for HSBC's Asian fixed income business. He was later responsible for building the European and American businesses from the ground up between 1997 and 1999. These initiatives resulted in HSBC being awarded Asia Bond House of the Year by IFR in 1998 and being rated number one by Greenwich Associates having risen from 12th position in 1995.

Mark hails from Ireland where he received his Bachelor of Commerce from University College Dublin before moving to Hong Kong in 1991. Mark holds licenses from the SFA (Securities and Futures Association, London) and the NASD (National Association of Securities Dealers).

Founded six months ago by OFlaherty, another former HSBC executive, AsiAlliance.com has also added two other key banking executives to its team of eleven in recent months; Giorgio Pilla, formerly of ABN Amro in Singapore and David Meranze from Prudential Securities Asian Capital Finance team.

AsiAlliance.com is the leading Asian incubator and investment company focusing exclusively on Asian business- to-business (B2B) e-commerce startups, dedicated to building a pan-Asian interactive community of the highest quality, most dynamic, profitable B2B e-commerce companies. The company is redefining the incubation concept to create the perfect breeding ground for e-commerce startups, according to OFlaherty.

AsiAlliance.coms innovative processes work together to create a high quality, transparent and compliant framework that their implementation team will customize for each member of the AsiAlliance.com network.

According to Leahy on his new role, When a startup comes under AsiAlliance.com's wing they have instant, direct access to all the expertise, support systems and key strategic partnerships normally beyond the reach of a startup. This process allows AsiAlliance startups to take full advantage of AsiAlliance's established infrastructure and economies of scale to substantially reduce the time and expense of getting to market while allowing them to focus on what matters... their vision."

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