Singapore - 2 Nov, 2004 - Green Dot Internet Services Pte Ltd (GDIS) announces that it has invested into Hardware Zone Pte Ltd, a regional IT media company that runs the highly popular online portal Hardware Zone International (www.hardwarezone.com®) and publishes three monthly IT magazines, namely HWM, GameAxis® Unwired and PHOTOi™.

Set up in 1998 by several undergraduates from the National University of Singapore, Hardware Zone started off as an internet portal dedicated to the testing and performance evaluation of computer hardware. The company, Hardware Zone Pte Ltd, has since developed into a successful online and print business in South East Asia, with one of the largest online communities in Singapore. Currently it has more than 150,000 members and more than 32 million page views per month. Hitwise, an online traffic measurement company, rated Hardware Zone as the top IT media website in Singapore in August 2004.

Under the terms of the investment agreement, GDIS would invest up to 1.5 million Singapore Dollars and acquire a stake of at least 20% of Hardware Zone. GDIS will also take up a seat on the Board of Directors with Hardware Zone Pte Ltd.

"GDIS is one of a very small number of fast growing companies in Singapore operating predominantly in the internet space. As part of our growth strategy, we seek partnerships and strategic alliances with companies that complement our core business. We are impressed with Hardware Zone's young and energetic management team and its sound value proposition - both critical ingredients for high growth in the fast changing internet space," says Dr Francis Yeoh, CEO of GDIS.

Dr Jackie Lee, CEO of Hardware Zone says, "The investment by GDIS is a strong signal of confidence in our company. Within a few years, Hardware Zone has established itself as a provider of quality information on computers and digital gadgets through our online portal and offline publications. Our business has also expanded beyond Singapore into Malaysia, Thailand, Philippines and China. With this synergistic alliance and strong advisory board, we expect to scale faster than ever locally and regionally within the next few years. You can expect more announcements from us in the near future."

GDIS operates portals with some of the largest online communities in Singapore, including the award-winning portal for national servicemen for the Ministry of Defence, MIW (www.miw.com.sg), the location-based interactive lifestyle portal, CAN (www.can.com.sg) and more recently, the motoring and road transport portal, ONE.MOTORING (www.onemotoring.com.sg) for the Land Transport Authority. The company champions an innovative collaborative business outsourcing model in its projects, based on a partnership arrangement rather than the traditional customer-supplier relationship.

"When two companies, each with rich experience in successfully running portals with large online communities, come together, you can expect cross fertilisation of ideas and the creation of new business opportunities, which will be good for the small but growing local online industry," adds Dr Yeoh.