Lycos Asia buys MyRice.com

Internet portal operator Lycos Asia Ltd. has made a major inroad to the Chinese language content market with the acquisition of the sixth-largest Chinese portal, MyRice.com.

MyRice.com is owned by Cyber Rapid Development Ltd., an investment holding company of Hong Kong-based MyRice.com Holdings Limited. It attracts more than half a million unique visitors per month and boasting a reach of 32.5 percent in China.

Lycos Asia Network now claims to have the largest footprint in the region with 11 sites over nine countries.

"The completion of this acquisition is very significant and the successful integration of MyRice.com to the Lycos Asia Network will enhance our position as a leading pan-Asian Internet portal," said Ms. Mary Ong, chief executive officer of Lycos Asia.

"At the same time, it brings to us a wealth of Chinese content that we will be able to use and capitalize on throughout our Lycos Asia Network. Looking at the significant growth in the numbers of Chinese Internet users in the region, the high quality, and the depth and breadth of content available at MyRice.com are very important. By integrating with Lycos Asia's other Chinese sites, we will have one of the most comprehensive and compelling Chinese content offerings for our users, advertisers and business partners in the world."

MyRice.com is already linked to Lycos Asia's newly launched South East Asian Chinese portal site (http://chinese.lycosasia.com) and is being incorporated into Lycos Asia network of sites in the Greater China region. Lycos Asia is a US$50 million joint venture between Singapore Telecommunications Ltd. and Terra Lycos SA and was formed in September 1999 to jointly deliver localized versions of Lycos.com, Tripod and other services to more than 10 markets in Asia.

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