iSteelAsia.com in Beijing to further consolidate global expansion plans

(Hong Kong, 5 May 2000) The world's first steel exchange vertical portal to be listed, iSteelAsia.com (stock code: 8080), will further consolidate its efforts in global expansion by participating in three high ranking events in the steel industry calendar next week in Beijing:

   The Congress Steel 2000 Conference, sponsored by iSteelAsia.com, is organized by the Metallurgical Council of the China Council for the Promotion of International Trade with the objective of cultivating communications between China and the international steel community to promote and expand the steel trade in China. It is well supported by highly esteemed international steel federations and leading enterprises as well as technology providers, including Ispat Europe S.A. and Siemens.

   Mr. Wu Jianchang, Deputy Director General of State Metallurgical Industry Bureau, will deliver the opening keynote speech focusing on the International Steel Congress and the new century it is facing. Mr. Andrew Yao, Founder, Chairman and CEO of iSteelAsia.com, will present the coming opportunities for B2B e-commerce in steel trading as well as emphasising iSteelAsia.com's neutral trading platform and its vertical value-added premium business model.

   In addition, over 30 distinguished steel industry members from Europe, the Americas, Japan and China will speak on topics covering the current state of the world steel industry, latest technology, business management techniques plus many more related issues.

   Running at the same time in the Beijing International Exhibition Centre from May 9 to 13 is the 7th International Metallurgical Industry Exhibition, which will be the largest, and most comprehensive and authoritative exhibition of its kind ever to be held in China. As the sole sponsor, iSteelAsia.com will display information at prominent sites throughout the venue. At the official opening ceremony, Mr. Yao will be invited on stage to witness this turn-of-the-century event with important officials from the Metallurgical Bureau and other leaders in the industry in attendance.

   On May 9 at the Hebei Room in the Great Hall of People, Mr. Yao and Ms. Drina Yue, Chief Operating Officer of iSteelAsia.com will host a press conference to announce its strategy and future expansion plans in China as well as details of the latest business alliances.

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.