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Wyith's first market entry into Hongkong and South China through acquiring banana.com.hk

Hongkong - Oct 22, 2001 - Wyith is pleased to announce its first market entry into Hongkong and South China through the acquisition of Banana.com.hk.

Through its technology subsidiary, Wyith Limited, Wyith Incorporated has acquired Banana Online, an established strategic interactive consultancy, in a part-cash, part-equity transaction.

This entry into the South China market marks a major milestone for Wyith since it was founded in 1991, giving the company a truly localised footprint in Hongkong and China, including Taiwan. Banana Online is now on track to become one of Hongkong's leading Internet professional services brands.

"We remain optimistic about the future of the Wyith business model in both the localised Asia-Pacific region as well as in the international market. Whilst striving to improve our own performance, this acquisition is a vote of self-confidence and is in our best interest." said Dr Raymond Cheng, Managing Director of Wyith Incorporated.

Banana Online was a low-profile, e-business service provider to several manufacturers in the Hongkong market. This acquisition will accelerate Wyith's expansion plans and extends its reach into the lower end local markets. Wyith is expected to expand its offices in Mainland China in the second quarter of 2002.

Commented Dr Cheng, "This acquisition of Banana in Hongkong, demonstrates our commitment to deepening our capabilities and extending our market reach into localised markets. Each new market we enter into adds to the synergies built into our operational and zero-cost infrastructure, and boosts our other core businesses, community integration and technology distribution through our portals and web-gateways."

"Our resources and the experience we gained in the North American market will assist in the success of Banana, just as Banana's expertise in Hongkong and South China opens new opportunities for us in these markets."

Banana is a fresh and fruity brand aimed to capture market share of the young-and-adventurous Chinese demand for sweet personal web-hosting.

The Web site for Banana Online is www.Banana.com.hk.

About Wyith Incorporated

Founded in 1991, the company is a provider of corporate MIS applications, backend IT services and is a strategic consultant of e-business. The company's wholly owned division, Wyith Limited, is also a world class leader in B2C domain-based services, including domain registrations in over 70 countries, Web hosting and related services. The business has serviced over 40,000 customers worldwide, spanning 110 countries.

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