iSteelAsia.com successfully consolidates global expansion plans in Beijing

(Hong Kong, 12 May 2000) The world's first steel exchange vertical portal to be listed, iSteelAsia.com (HKSE stock code: 8080), addressed the international steel community at a press conference on 9 May, in the Great Hall of the People in Beijing, to announce its strategy and future expansion plans in China, during the "Steel 2000" Conference held on 7-11 May. It was also sole e-commerce sponsor of the 7th International Metallurgical Industry Exhibition and 2nd International Mining Exhibition held concurrently on 9-13 May in Beijing.

Mr. Andrew Yao, Founder, Chairman and CEO of iSteelAsia.com, was invited as guest speaker at the first morning of the conference regarding e-commerce and how it can help the steel industry in China. Ms. Drina Yue, Director and Chief Operating Officer of iSteelAsia.com, announced that the company will set up offices in Beijing, Shanghai and Guangzhou to sustain and expand its leading position in the Chinese iron and steel industry, and to support and train industry players regarding e-commerce technologies and its advantages.

iSteelAsia.com was the sole e-commerce sponsor at the prestigious "Steel 2000" conference organized by the Metallurgical Council of the China Council for the Promotion of International Trade to foster communication between China and the international steel community. Over 800 participants from the manufacturing, technology, procurement, trading and e-commerce fields, together with government departments, academic and research institutes, attended the opening seminar on 7 May, in which Mr. Andrew Yao presented the future opportunities of B2B e-commerce in steel trading. The conference was opened by Mr. Pu Haiqing, the Director General of the State Administration of Metallurgical Industry.

The concurrent 7th International Metallurgical Industry Exhibition, the largest, most comprehensive and authoritative exhibition of its kind ever to be held in China. iSteelAsia.com was sole e-commerce sponsor of the exhibition. Over 300 new corporate and personal members registered on the iSteelAsia.com site during the exhibition.

Since the launch of its Chinese-language website in February this year, iSteelAsia.com, has also organized several other activities in China including an e-commerce promotional seminar in Beijing on 5 April, as well as a seminar held in Guangzhou on 28 April to further consolidate business relationships. iSteelAsia.com will also be hosting an e-commerce promotional seminar in Shenyang at the Traders Hotel on 18 May to introduce steel e-trade opportunities to major steel market players.

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.

Photo Captions

Picture One (From left to right)
The 7th International Metallurgical Industry Exhibition

• Ms. Drina Yue, Director and Chief Operating Officer of iSteelAsia.com
  
• Lin Yinsheng, Executive Director of the Foreign Affairs Department of the State Administration of Metallurgical Industry
  
• Mr. Pu Haiqing, Director General of the State Administration of Metallurgical Industry
  
• Mr. Andrew Yao, Founder, Chairman and CEO of iSteelAsia.com

  
  Picture Two (From left to right)
  The 7th International Metallurgical Industry Exhibition
  

• Mr. Andrew Yao, Founder, Chairman and CEO of iSteelAsia.com (2nd from the left)
  
• Mr. Shan Yuhe, Deputy Director General of the State Administration of Metallurgical Industry (3rd from the left)
  
• Mr. Wu Jianchang, Deputy Director General of the State Administration of Metallurgical Industry (3rd from the right)
  
• Ms. Drina Yue, Director and Chief Operating Officer of iSteelAsia.com (1st from the right)

  
  Picture Three (From left to right)
  iSteelAsia.com Beijing Press Conference
  

• Mr. Philip Lee, Vice President of Global Business Development of iSteelAsia.com
  
• Ms. Drina Yue, Director and Chief Operating Officer of iSteelAsia.com
  
• Mr. Andrew Yao, Founder, Chairman and CEO of iSteelAsia.com