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• All business segments registered growth for 2008
• Q408 revenue and earnings grew over the previous quarter – Q308

SINGAPORE, 26 February 2009 – Mainboard-listed MediaRing Ltd ("MediaRing" or the "Group"), a one-stop premier Internet Protocol ("IP") communications provider of Voice, Data and Computing services in the Asia Pacific, today reported a 26% increase in revenue to US$140.8 million (S$200m) and a Net Profit After Tax (NPAT) of US$0.7m for the financial year ended 31 December 2008.

The Group’s NPAT for the year was affected by a non-cash fair value market adjustment of financial instruments. Excluding the adjustment, the NPAT would have been US$1.4m, which is an improvement over last year when the gain from the divestment of PacNet shares is excluded.

For the Quarter ended 31 December 2008, revenue grew by 4% to US$37.1m and NPAT improved by US$0.8m to US$0.2m. Excluding the fair value market adjustment of the financial instruments, the NPAT for the Quarter would have been US$0.9m.

"Despite being a challenging year we saw our revenue grow by 26% in FY2008. All business segments registered growth. The Data and Computing segment now accounts for 31% of our total revenue, compared to 16% the year before. We acquired CAVU and Delteq in October 2007 and November 2008 respectively to diversify into Data and Computing and we are pleased with our progress so far" said Mr Khaw Kheng Joo, MediaRing’s Chief Executive Officer.

"In the mobile phone space, we launched our innovative mobile VoIP service (www.mediaringmobile.com). The service enables selected mobile phones to make free calls, mobile phone to mobile phone, across the world when both parties are connected to our global IP network. If only one party is connected the call will be at affordable rates with no roaming and local airtime charges to contend with." continued Mr. Khaw.

The Group’s cash position remains strong, with US$71.0m in cash, cash equivalents and bonds. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the year improved by US$1.7m to US$4.7m.

Outlook:

With the continuing global uncertainties, the Group will continue to act with caution in all aspects of our business, and will remain diligent to the changing regulations in the countries that use our services. At the same time we will continue to seek growth opportunities through acquisitions.

About MediaRing Limited
MediaRing is a one-stop service provider for Voice, Data and Computing Services with leading edge in VoIP technology. 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. MediaRing’s Data and Computing Services unit offers innovative Utility Computing to numerous enterprise customers. In addition, services such as IT Infrastructure Hosting and Outsourcing, Broadband Access, Managed Network as well as various Network Based Services are within the scope of this unit. MediaRing is well-positioned as the Enterprise preferred one-stop service provider for Voice, Data and Computing Services.

Since its inception in 1993, MediaRing has grown to become a global enterprise with a strong presence in over 9 cities worldwide. Headquartered in Singapore, we have a network of subsidiaries, branch and representative offices, and associates in Kuala Lumpur, Tokyo, Shanghai, Beijing, Hong Kong, Cape Town, Cambodia and Sunnyvale (USA). MediaRing Limited is listed on the mainboard of Singapore Stock Exchange since 1999 and trades under ticker symbol SGX: M09.

For more information, please contact:

Lenny Sofia (Ms)
Asst. Marcom Manager
MediaRing Limited
DID: +65 3100 0124
Fax: +65 6441 3013
Email: lenny@mediaring.com