Nextnation strives to become leading mobile service provider for Asia; recent expansion boosts revenues, IPO

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Nextnation, a company serving about 80 million mobile users in South East Asia, is scheduled to be listed on the Mesdaq (Malaysia) market on Aug. 26. As such, it will issue 32 million new shares of 10 sen each at an issue price of 78 sen. The initial public offering (IPO) is expected to raise RM24.96mil (U.S. $6.6 million).

Nextnation Communication Berhad expects revenue to grow double digits for the year ending April 2006 on the back of its overseas expansion. It made a net profit of RM12.5 million (U.S. $3 million) on the back of RM45.1 million (U.S. $ 12 million) sales, for the year ended in April of 2005.

The multimedia mobile application services provider was expected to commence operations in Singapore and Indonesia by the fourth quarter of this year. During the same period, it planned to begin setting up infrastructure in Thailand and China, targeting particularly Shanghai, Beijing, Shenzhen and Guangzhou. By the end of 2007, it would have reached out to one billion mobile users worldwide.

The company, which is scheduled to be listed on the Mesdaq (Malaysia) market on Aug. 26, is issuing 32 million new shares of 10 sen each at an issue price of 78 sen. The initial public offering (IPO) is expected to raise RM24.96mil (U.S. $6.6 million).

Additionally, Nextnation will be implementing a one-for-one bonus issue prior to its debut listing, resulting in a theoretical ex-bonus price of 39 sen per share.

Nextnation’s key developer modules operating on its proprietary MINDCEP platform are SMSJET, SOHOMOBILE and Mcommerce-Suit. Nextnation works with corporate clients, application developers, mobile marketers, content providers, mobile operators and aggregators in a mutually beneficial manner.

The company, which currently serves about 80 million mobile users in South East Asia, is associated with more than 400 service providers and 500 reseller organizations globally.

More information about Nextnation Communication Berhad can be found at http://www.nextnationnet.com

For further information, please contact: Alex TAN at 0-1160-19-353-9668 or Terence LOO at 0-1160-12-629-5618.

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