Hong Kong, 29 June 2000 The first steel exchange vertical portal worldwide to be listed, and the first B2B vortal to list on Hong Kong Stock Exchange's GEM board, iSteelAsia.com (HKSE: 8080) continues to strengthen its senior management team with the appointments of Mr. Philip Lee as Vice President of Global Business Development, Mr. Sean Wan as Chief Information Technology Officer, Mr. Jack Lee as Director of Strategic Alliance and Ms. Sandra Lee as Director of Customer Relationship Management.

Mr. Philip Lee (VP of Global Business Development) will report to Ms. Drina Yue - Director and Chief Operating Officer. He will be responsible for spearheading the group's growth on a global level, as well as its overall business and product development. Mr. Lee brings to iSteelAsia.com a wealth of experience gained in product development and risk management, having notched up almost 20 years with industry giant, Commercial Metals Company (CNYSE: CMC), with previous postings in Hong Kong, Singapore and Switzerland. His last position with CMC was as Managing Director in Singapore, where he oversaw business developments and regional operations for six years until 1998. Immediately prior to joining iSteelAsia.com, Mr. Lee joined Steeleast Pte Ltd in Singapore as Managing Director where he further enriched his expertise in the Asian steel industry.

Mr. Sean Wan (Chief Information Technology Officer) will be responsible for e-Commerce development and Information Technology. He will provide strategic direction, oversee development and data center operations as well as liaise with business and consulting partners to ensure a best-in-class B2B steel trading website for iSteelAsia.com. Building on a solid industry background of 15 years with Seagate Technology, Inc. where he originated and developed advanced and innovative systems later adopted as industry standards, he was formerly with 3Com Corporation in California where he held a senior management position on the B2B e-Business development. His accomplishments have also earned him numerous high achiever awards and he was granted Key Employee by Seagate Technology.

Mr. Jack Lee (Director of Strategic Alliance) will focus on the development of strategic relationships with Value-Added Service partners on the logistics, insurance, finance, inspection and content side, enabling iSteelAsia.com to complete its strategy of offering a fully integrated supply chain in the steel industry. Prior to joining the group, Mr. Lee was with Emerson Electric, responsible for leading the strategic sourcing efforts for their steel business in Asia. He successfully negotiated long-term agreements with well-known Japanese steel suppliers, developed supply base strategy and commodities strategy as well as leading the company's e-procurement efforts in implementing reverse-auction strategies for centralized e-sourcing.

Ms. Sandra Lee (Director of Customer Relationship Management) will be responsible for Customer Relationship Management at iSteelAsia.com, overseeing all customer services, online marketing activities and public relations programs to ensure that customer relations and related services are maintained and continue to strengthen accordingly. Ms. Lee has come from a varied marketing background and was a pioneer in the local e-commerce market, having established a business-to-consumer website to serve a number of early e-shopper adopters, both overseas and locally. Ms. Lee has over 10 years experience in business-to-business marketing and customer relationship management with United Parcel Service and GTE Directories.

Commenting on the new appointment's, Ms. Drina Yue said "As you can see, these new senior management appointments are extremely adept in their respective fields, bringing with them a mine of management experience in forging strategic business alliances, extensive business and product development as well as information technology experience".

Mr. Andrew Yao, Founder, Chairman and CEO of iSteelAsia.com said: "With the appointment of these experienced professionals, iSteelAsia.com now has the senior management team it needs in place to really push forward in revolutionizing the Asian steel industry."

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 caption:

Mr. Philip Lee, Vice President of Global Business Development, iSteelAsia.com

Mr. Sean Wan, Chief Information Technology Officer, iSteelAsia.com

Mr. Jack Lee, Director of Strategic Alliance, iSteelAsia.com