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• All business segments registered growth
• Improvement in earnings from the previous quarter – Q2 2008.

SINGAPORE – 12th November 2008 – Mainboard-listed MediaRing Ltd ("MediaRing" or the "Group"), a one-stop premier Internet Protocol ("IP") communications provider of Voice, Data and Infrastructure services in the Asia Pacific, reported today a 42% increase in revenue to US$34.9 million and a net profit of US$2,000 for the quarter ended 30 September 2008 ("Q3 2008").

MediaRing attributed its top-line growth to an increase in call traffic volume, which rose 24% to 327 million minutes, growth in the Data business and impact of Cavu acquisition in October 07.

For the nine months ended 30 September 2008, revenue grew by 37% to $103.7 million, while Net Profit After Tax ("NPAT") was $0.5 million, compared to $2.7 million in the corresponding period last year. Discounting the impact of exchange losses and one-off items, the NPAT would have been $1.4 million. This is an improvement over the corresponding period last year when the one-off items, primarily the gain from the divestment of the PacNet shares, are excluded.

Said MediaRing's CEO, Mr Khaw Kheng Joo on the Group's results, "We have made good progress growing our revenue over the previous quarter and the previous year and all business segments have grown over the corresponding period last year. We are also pleased with the progress made in the bottom line results but recognize that we have much work to do particularly considering the state of the global economy."

Outlook:
Given the current global uncertainties, the Group will act with caution and diligence when executing its growth strategies and will exercise prudence in managing its costs. While the Group will continue to look for opportunities to expand its operations in Asia, we recognize that caution in all aspects of our business is appropriate. MediaRing will also continue to be diligent of the changing regulations in the countries that use our services.

Said Mr Khaw "This challenging business climate has given rise to many companies looking for ways to trim costs to remain 'lean', and this will present opportunities for MediaRing with our cost effective VoIP and Data / Infrastructure services."

MediaRing remains firmly committed to being a truly one-stop premier IP communications provider in the Asia Pacific region and Mr Khaw emphasised, "Our aim is still to build a sustainable business that will enhance long-term value for our shareholders. I believe MediaRing is resilient with the necessary resources to ride out the current global uncertainty."

About MediaRing
With offices in Singapore, Malaysia, Shanghai, Beijing, Hong Kong, Japan, Cambodia 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 the bulk of its Voice revenue from outside Singapore.

Contact Information:

August Consulting
Tel: (65) 6733 8873 Fax: (65) 6733 9913
Silvia HENG – silvia@august.com.sg