PCCW-NEWS!!

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PCCW-NEWS!!

 
17.03.00 16:18
#1

 OAKLAND, Calif., Mar 17, 2000 (BUSINESS WIRE) -- DigiScents' co-founder and
 CEO, Joel Bellenson, states, "The establishment of Permanent Normal Trading
 Relations (PNTR) between China and America is a matter of global significance.
 "The Internet is one of the most powerful enablements of human communication,
 redefining every industry and every country, and spiraling billions of people
 into a new global discourse and multicultural metropolis."
 Bellenson continues, "Just as we want our cities to be united for all of its
 inhabitants, we must approve PNTR so that a quarter of the world's people can
 have access to all the benefits of the global infrastructure, significant parts
 of which are being originated in the United States. Our company, DigiScents,
 although founded in the U.S., took the unorthodox step, two and a half months
 ago, of receiving an equity investment from Pacific Century CyberWorks based in
 the Chinese SAR of Hong Kong. We did this as part of our mission to enable
 global and historical understanding by restoring to humanity's communication and
 entertainment repertoire the sense of smell."
 DISCLAIMER: This quote does not represent the opinion or views of Pacific
 Century CyberWorks (PCCW) nor did PCCW read or approve the quote prior to its
 transmission over the wire. About DigiScents, Inc.
 DigiScents is partnering with leading web sites and interactive media companies
 to scent-enable the Internet. With DigiScents(TM) Digital Scent Technology,
 consumers will be able to enjoy more lifelike and memorable experiences with

 scented Web sites, e-mail, movies, music, e-commerce, interactive games, and
 online advertising.
 In October 1999, DigiScents first announced its complete solution for digitizing
 and broadcasting scents over the Internet. Through its partnership with
 RealNetworks (Nasdaq:RNWK), DigiScents ScentStream(TM) software will be
 auto-downloaded to almost 100 million RealPlayer users. Through its partnership
 with Hong Kong-listed Pacific Century CyberWorks (PCCW; HKSE:1186), DigiScents
 technology will be available across all of the Asia-Pacific via NOW, PCCW's
 enormous Internet, e-commerce, and interactive television network.
 DigiScents is a privately held corporation located in Oakland. The company was
 founded in February 1999 by Dexster Smith and Joel Bellenson. Bellenson and
 Smith also founded DoubleTwist (www.doubletwist.com), formerly Pangea Systems
 Inc., the world's leading biotechnology company.Distributed via COMTEX.
 Copyright (C) 2000 Business Wire. All rights reserved.-0-
 CONTACT: DigiScents, Inc., Oakland
 David Libby, 510/625-4305
 Director of Public Relations
 davidl@digiscents.comKEYWORD: CALIFORNIA
 INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS SOFTWARE
 INTERNET ELECTRONIC
 GAMES/MULTIMEDIA  
PCCW-NEWS!! Trader

Re: PCCW-NEWS!!

 
#2
Agence France Presse


 March 17, 2000, Friday 3:16 AM, Eastern Time

 SECTION: International news

 LENGTH: 360 words

 HEADLINE: Trading in Cyberworks shares suspended amid report on unrealised gains

 DATELINE: HONG KONG, March 17

 BODY:
 Trading in shares of Pacific Century CyberWorks was suspended Friday after a report
 said the company has booked unrealised gains of one billion US dollars from
 investments in Internet-related firms.

 Trading in CyberWorks, headed by Hong Kong tycoon Li Ka-shing's son Richard, was
 suspended at its request until a statement clarifying the situation is issued, a spokesman
 for the Stock Exchange of Hong Kong said.

 The Internet firm lost 65 Hong Kong cents (8.4 US cents) to close at 19.95 dollars on
 Thursday.

 In comments reported in the South China Morning Post Friday, CyberWorks managing
 director Alex Arena said the company booked the unrealised gains from investments in
 about a dozen listed Internet-related investments.

 "We have invested in more than 40 companies. The amount of investments, both in
 shares and (cash-swaps) total 600 million dollars," he said.

 "If it is strategic investments, we tend to keep most of them longer. If it is non-strategic
 investments, we might consider selling them given the market is doing well," said Arena.

 Arena also dismissed shareholders' concerns over the recent slump in the prices of
 technology stocks including CyberWorks.

 "I don't think we should focus on day-to-day fluctuations in any share price. What we

 should do is build business, have a plan and a good management team," he said.

 The company, which was only established last May, late last month won a battle for
 control of Hong Kong's main telephone network operator, Cable and Wireless Hong
 Kong Telecom.

 Li's new firm PCCW-HKT will be the third largest on the Hong Kong stock exchange, with
 a value of 533.63 billion Hong Kong dollars (68.5 billion US).

 Cyberworks' growth had been largely powered by its investments in Internet and other
 high-tech start-up companies.

 As part of this strategy it acquired five million shares in SoftNet Systems in January,
 making it the Silicon Valley-based firm's biggest shareholder.

 The company is already involved in a separate joint venture with CMGI, Compaq, Cisco
 and Nokia which aims to provide broadband services to airports, hotels and convention
 centres worldwide.

 pl/sls

 LANGUAGE: ENGLISH

 LOAD-DATE: March 17, 2000  


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