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• Award acknowledges and honors fast growing technology companies across Asia Pacific
• MediaRing joins other winning companies from Australia, China/Hong Kong, India, Japan, Korea, Malaysia, New Zealand and Taiwan at award ceremony in HK

SINGAPORE - 9 December 2005 - Mainboard-listed MediaRing Limited ("MediaRing") is one of only a handful of Singapore companies that won at this year's Deloitte Technology Fast Asia Pacific 500 award. Achieving an impressive 149% revenue growth over a three-year period, MediaRing was ranked Number 6 among the eight winning Singapore companies and Number 367 in Asia Pacific. MediaRing received its award at a high profile award ceremony held in Hong Kong on 8 December 2005.

The Deloitte Technology Fast Asia Pacific 500 program recognizes the 500 fastest growing technology companies in Asia Pacific and includes all areas of technology, from Internet to biotechnology, from medical and scientific to computers/hardware. The program covers public and private companies across the region, and is awarded based on companies' three-year average percentage revenue growth.

Besides Singapore, which formed 1.6% of the total Asia Pacific representation of fast-growing technology companies, the program covers companies based in Australia, China, Hong Kong SAR, India, Indonesia, Japan, Macau, Malaysia, Philippines, New Zealand, South Korea, Taiwan and Thailand.

An elated Mr Khaw Kheng Joo, CEO of MediaRing, said "We are extremely honored to be the winner of this prestigious Asia Pacific award as this is a great recognition of MediaRing's position as the leading VoIP telephony service provider in Asia. Indeed, our pace of growth has been tremendous in recent years and we have become, very notably, the only public listed profitable pure-play VoIP services provider in the world. "

For its first half FY2005 financial results, MediaRing reported a net profit of US$1.2 million on the back of US$44.4 million turnover, making it the second consecutive profitable half.

He continued, "This award is also a vindication of our strong technological capabilities and extensive distribution network, which allows us to offer high-quality and low-cost voice services to carriers, enterprises, service providers, and consumers with a wide range of service offerings."

To qualify for the 2005 Deloitte Technology Fast Asia Pacific 500 program, companies must meet the following criteria :

• It must be a technology company defined as one that develops proprietary technology which contributes to a significant portion of the company's operating revenues; manufactures a technology-related product; and devotes a high percentage of effort to R&D of technology
• It must be in business for a minimum of three years
• It must have revenues of at least US$50,000 in the first of the years being analysed
• It must be Asia Pacific-owned, with HQs in Asia Pacific

"Making the Deloitte Technology Fast 500 Asia Pacific ranking is a testament to a company's commitment to technology," said Ian Thatcher, partner in charge of Deloitte's Technology Fast 500 Asia Pacific program. "With MediaRing's 149% growth rate over three years, MediaRing has proven that its leadership has the vision and determination to grow in difficult conditions."

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.

About Deloitte Technology Fast 500 Asia Pacific Program
The Deloitte Touche Tohmatsu (Deloitte) Technology Fast 500 Asia Pacific program is the region's most objective industry-ranking standard to focus on the technology field. It was created in 2001 to recognize the effort and dedication of the 500 fastest-growing technology companies in Asia Pacific and includes all areas of technology, from Internet to biotechnology, from medical and scientific to computers/hardware. It includes both public and private companies. The awards, which have been running in Asia Pacific for four years, are based on three-year average percentage revenue growth. Details of the winning companies will be available at http:///www.deloitte.com/fast500asiapac after the event, or please contact us (see below) if you need information in advance.

About DTT Technology, Media & Telecommunications Industry Group
The DTT TMT Industry Group consists of the TMT practices organized in the various member firms of DTT and includes more than 5,000 member firm partners, directors and senior managers supported by thousands of other professionals dedicated to helping their clients evaluate complex issues, develop fresh approaches to problems and implement practical solutions. There are dedicated TMT member firm practices in 45 countries and centres of excellence in the Americas, Asia Pacific and EMEA. DTT's member firms serve nearly 85 percent of the TMT companies in the global Fortune 500. Clients of DTT's member firms' TMT practices include some of the world's top software companies, computer manufacturers, wireless operators, satellite broadcasters, advertising agencies and semiconductor foundries - as well as leaders in publishing, telecommunications and peripheral equipment manufacturing.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas-audit, tax, consulting and financial advisory services and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.

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Public Relations Contact

For further information please contact:
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Silvia HENG- silvia@august.com.sg
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