Cybersia.com closes second round of financing . Multi-million dollar fund to fuel the Companys expansion plans

For Immediate Release

SINGAPORE, May 22, 2000 - Cybersia.com, a privately-held global Internet company today announced that it has closed its second round of private financing. The Company is a leading Chinese genealogy, family and lifestyle service provider.

Our second financial round closing marks the beginning of an exciting period of expansion for the Company," says Mr. Steve Simpson, CEO of Cybersia.com. In the past six weeks, we have also achieved many milestones."

Finance and alliances. Cybersia.com Board of Directors approved its most recent round of financing in late March. We are pleased that our investors have confidence in us. Cybersia.com is clearly establishing itself as the leader in the Chinese genealogy and family service space by closing this multi-million dollar financing during times of market uncertainty," says company CEO, Steve Simpson. Investors include various well-known business angels, institutions and industry organizations.

We rolled out the worlds first comprehensive Chinese genealogy website, Xungen.com, on February 29, and since that time we have been able to attract the interest of many industry and major portal groups. I am extremely encouraged by their response to our vision. We are in close talks with several groups and I hope to shortly announce additional alliances and funding initiatives for our Company" said Simpson.

Product and Content. The company has a clear objective of building the worlds largest database of Chinese Ancestry records to assist people in discovering their roots. This is a significant challenge for the company and major initiatives have commenced since the launch of Xungen. In the past weeks we have reached agreements with some of the most authoritative people in the world on Chinese genealogy and history. Management is extremely excited with its collaboration plans with the Shanxi genealogy centre and the Taiwan surname association. Both groups are authorities on Chinese surname origin and have extensive family history data available. We will be providing further updates in our online pressroom at www.cybersia.com/press/index.htm as these arrangements are progressed.

- Strategic Alliance with Rediffusion Berhad. Cybersia struck an alliance with Rediffusion Berhad, Malaysias national media company (listed on the Kuala Lumpur Stock Exchange) on April 10. Cybersia.com will broadcast proprietary family-oriented programs over RediFM to Malaysias 5.6 million Chinese. RediFM is Malaysias most popular Chinese language station. The Company expects to start broadcasting programs in June 2000.

- International Genealogy Conference. The company in early May co-organized the International Conference on Genealogies and Genealogical Resources together with the Shanghai Library. The conference was very well accepted by all participants and received extensive coverage by Chinese television and press. The event was extremely well attended and included over 100 Chinese genealogy specialists from many countries including USA, Japan, China, Taiwan, Singapore and Vietnam. The event was a chance for the Cybersia team to present our direction and mission and to also explain our web site plans and content. We were well rewarded with over 50% of the conference experts registering with our Expert registration" web function. This will help promote Xungen.com as the premier forum for Chinese Genealogy discussion and research.

Corporate Actions. The Company has recently forwarded a memorandum to shareholders to change the Companys domicile from the state of Delaware to the Cayman Islands. The shareholder meeting is set for Tuesday 23rd May. This is very consistent with the corporate structure of many Asian Internet companies that have undertaken public listings. Progress on this matter will be reported in our pressroom postings.

The company is in the process of registering a representative office in Shanghai in order to support our relationship with the Shanghai Library and to support the development of our database of ancestry records. The company intends to take a step-by-step approach to the operation with this initial focus on database support. Other activities will be incorporated into the business plan after some experience had been developed in the local scene.

Corporate Website : http://www.cybersia.com

contact:
Faye Kuan
Cybersia.com
Phone : (65) 372 0055
Fax : (65) 372 1180
Mobile : (65) 9690 5320
Email : PR@cybersia.com