SPH Reckons on Financial Portal's Success

SINGAPORE (03/01/2000) - Internet publisher SPH AsiaOne Pte. Ltd. and Australian financial services company Reckon Ltd. today launched an S$12 million (US$6.96 million) joint venture to create a financial services Internet portal in Singapore, Malaysia, Hong Kong, Indonesia and the Philippines, the companies announced today.

The portal, to be named AsiaOne Quicken, will integrate Reckon's Quicken branded online financial services with AsiaOne's Asian content.

Online financial services offered by the major local banks have already proved popular in Singapore, both via fixed Internet and WAP (Wireless Applications Protocol) access.

Quicken has been providing online products in Australia since 1998. Products include Australian Stock Exchange (ASX) share quotes, trading and portfolio management and a range of insurance and mortgage transaction services.

The tie-up with AsiaOne is Reckon's first partnership outside Australia, and a number of other alliances are under active investigation in Australia and the Asia-Pacific region, the company said.

The venture is the first big move made by AsiaOne since it announced in January its intent to develop comprehensive portals in Asia for e-commerce, news and information in both the English and Chinese languages.

AsiaOne is a subsidiary of Singapore Press Holdings Group, the monopoly publisher of daily newspapers in the city-state.

AsiaOne can be found online at http://www.asia1.com.sg/. Reckon can be found online at http://www.reckon.com.au/.

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