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• MediaRing Global Talk offers substantial cost savings of up to 80% on international calls for transit passengers.
• One of the first airports in the world to offer VoIP telephone services to transit passengers

SINGAPORE - 30 November 2005 - In a milestone partnership with the Civil Aviation Authority of Singapore ("CAAS"), Mainboard-listed MediaRing Limited ("MediaRing") today announced the launch of its MediaRing Global Talk VoIP lounges and VoIP telephone service at Singapore Changi Airport. With this launch, Singapore Changi Airport will become one of the first airports in the world - to offer high quality, budget VoIP international calls for its passengers.

Home-grown MediaRing, the Number One pure-play VoIP telephony service provider in Asia, will offer this new service through its two newly designed MediaRing Global Talk Lounges. These luxurious lounges, with a total of 23 individual VoIP booths, are located at the Departure/Transit lounges of Singapore Changi Airport's Terminal 1 and Terminal 2.

On this highly significant corporate milestone, Mr Khaw Kheng Joo, CEO of MediaRing said "This is indeed a landmark occasion for MediaRing as we are playing an instrumental role in evolution of VoIP technology in Singapore. We believe that our high-value, low-cost VoIP international calls to passengers at the Singapore Changi Airport will significantly enhance its telecommunication facilities. Ultimately, this translates into a further strengthening of Singapore's position as a world class travel and telecommunications hub."

He continued, "We are also deeply honoured to partner a respected and established organisation such as the CAAS. Our alliance is a precedent setting one and makes our international airport one of the first one in the world to offer VoIP telephone services at special lounges to passengers."

Ranked the 6th busiest airport in the world, 83 airlines operate from the Singapore Changi Airport's Terminals 1 and 2. In terms of passenger movements, it saw more than 30 million passengers in 2004, up from 24.7 million in 2003. Based on the latest official figures from the CAAS, a total of 26.5 million passengers were channelled through the Singapore Changi Airport from January 2005 to October 2005.

With this impressive pool of passengers in mind, it is believed that MediaRing Global Talk, with its cost savings of up to 80 per cent on international calls to major destinations, will offer significant value add to travellers at Singapore Changi Airport.

In particular, the convenience factor for passengers is significantly enhanced as MediaRing Global Talk eliminates the need to purchase a pre-paid calling card Instead, passengers need only to pay a small cash deposit of S$5.00 at the Global Talk lounges to gain the use of one of its special Internet Phones.

Mr Khaw succinctly summarizes the key value proposition of Global Talk, "Given the cost and convenience advantages, MediaRing Global Talk presents a very exciting chance for us to meet one of the most wanted services by travellers world-wide, namely to be in-touch at a reasonable cost at all times."

In addition, with the high human traffic factor, MediaRing views its new presence at Singapore Changi Airport as a strong strategic platform to further grow its brand equity globally and locally.

Riding on the mounting tide of the VoIP industry, MediaRing has grown from strength to strength in recent times. For its first half FY2005 financial results, the Group reported a net profit of US$1.2 million on the back of US$44.4 million turnover, making it the only profitable pure-play VoIP services provider in the world.

"We have experienced tremendous growth in our VoIP business for the past two financial years. Leveraging on our strong track record and impeccable reputation, we are well-positioned to ride on the crest of an expanding VoIP industry," said Mr Khaw.

As part of its exclusive launch of MediaRing Global Talk at the Singapore Changi Airport, MediaRing will offer passengers seven days of Free international calls from 1st - 8th December 2005 to selected destinations at its VoIP lounges located at Terminals 1 and 2.

About the MediaRing Global Talk at Changi Airport

Locations of lounges:
Departure/Transit lounges of Singapore Changi Airport's Terminal 1 and Terminal 2
Terminal 1 - Next to Giordano (8 calling booths available)
Terminal 2 - Next to Sports Bar (15 calling booths available)

Operating hours of lounges:
Terminal 1 - 6.00 am to 12.00 mn
Terminal 2 - 6.00 am to 1.00 am

During operating hours, a Customer Service staff will be stationed at each lounge to assist transit passengers with all their queries and international calling needs.

How it works?
As special Internet Phones are used at the lounges, passengers need not purchase a pre-paid calling card to use our service.

• Passengers simply need to place a S$5.00 cash deposit with a Customer Service staff stationed conveniently at the lounges.
• A Customer Service staff will then allocate an available booth where the passenger can make his / her low-cost international call.
• After the call is completed, any unused deposit is refunded back to the passenger. However if the call costs more than the deposit, the passenger would need to pay the excess amount.
• Calls are made simply by dialing the Country code > Area Code > Telephone number.

About MediaRing
With offices in Singapore, Malaysia, Shanghai, Beijing, Hong Kong, Taiwan, Japan and Sunnyvale (USA), MediaRing is the leading VoIP telephony service provider in Asia and enjoys a significant share of the global pure-play VoIP market. Through its strong technological capabilities and extensive distribution network, MediaRing brings high-quality voice services to carriers, enterprises, service providers, and consumers with its wide range of service offerings. Its extensive partnerships with carriers around the world allow call terminations in more than 240 countries worldwide. As a pioneer in VoIP services with unique proprietary technology, MediaRing derives more than 90 per cent of its revenue from outside Singapore.

MediaRing recently announced that it has entered into a placement agreement worth US$24.1m with Venture One Finance Limited. Venture One Finance Limited subscribed up to an aggregate of 150.33million new shares which represented approximately 20% of the capital of MediaRing. Venture One is a company incorporated in the British Virgin Islands.

Public Relations Contact

For further information please contact:
August Consulting
Tel: 6733 8873 Fax: 6733 9913
Silvia HENG- silvia@august.com.sg
Lynn Ll- lynn@august.com.sg