Turkey shows an enthusiastic response to iSteelAsia.com's gateway to the Asian Steel Market

Hong Kong, 10 March 2000 - The tremendous promise of business-to-business e-commerce was revealed to steel industry players in Turkey with the introduction of the revolutionary steel e-trade business model by iSteelAsia.com, in a presentation attended by more than 50 people. Among them were representatives from all major Turkish steel producers, three major Turkish banks, scrap dealers, traders and importers of flat products. Also present were the General Coordinator and General Secretary of the Turkish Iron and Steel Association Mr. Hami Kartay and Dr. Veysel Yayan respectively.

The fact that business-to-business e-commerce is relatively new to steel industry players in the Middle East did not deter Mr. Veysel Yayan who stated that: "iSteelAsia is a logical development of the tremendous changes and opportunities sweeping the global economy. E-commerce gives businesses access to markets they could never tap before, simultaneously transforming their internal efficiency and cost factors. The iSteelAsia.com online trading mechanism is an ideal secure and neutral forum for steel traders across the world to interact. It's potential to retool the steel industry, liberate it from its inherent inefficiencies and complexities, and give it the speed and flexibility needed to react to constantly shifting trading conditions, is immense. We wish it every success, and are sure that it will reap great rewards."

"For this, we thank iSteelAsia.com for providing our steel industry with new opportunities and approaches. I sincerely hope that this Web site will bring innovative changes to our steel industry".

"The substantial volume of steel traded in Turkey provides an ideal platform for Turkish traders to expand their business with e-commerce" said Ms Miriam Yao, Founding Member of iSteelAsia.com. "Although iSteelAsia.com is a Hong Kong industry business-to-business startup plans are well underway to open markets in not only Turkey but Japan and Korea, establishing a true Pan-Asian presence."

To further consolidate its efforts in global expansion, Ms Yao also presented the Asian steel e-trade to the global steel elite at the 6th Annual World Steel Conference in London organized by CRU held on 5-7 March 2000. CRU is the world's largest independent business research organization devoted to metals and other important industries. The World Steel Conference has established itself as the leading forum for high quality debate. As one of five members in "The Battle for Electronic Commerce" panel, Ms Yao discussed iSteelAsia.com's huge first mover advantage and the extensive promise business-to-business e-commerce offers.

About iSteelAsia.com Limited
Launched in December 1999, iSteelAsia.com (iSteelAsia) was Asia's first online exchange for trading in steel and steel products. It is the first of its kind to be listed on the Hong Kong Stock Exchange's GEM board in April 2000. Focused on the Asian steel community, iSteelAsia aims to offer an open and neutral marketplace for steel trading. Trading competitiveness and efficiency are optimised on iSteelAsia as players can access a full spectrum of buyers and sellers and timely market knowledge. iSteelAsia serves as a single point of contact offering financing, insurance, surveying, shipping and logistics services, providing members with a one-stop end-to-end steel trading.

To date, iSteelAsia has over 2,600 registered members who regularly use its online trading services and access into its online Reuters and Asia Information Resources News.