Hong Kong, October 29, 2001 - Information-on-demand (IOD) system solution provider IA International Holdings Limited (HKGEM: 8047) announced that the Group's placing of 55 million new shares had been 2.1 times subscribed. The issue price has been fixed at HK$0.4 per share.

IA International Holdings Limited is engaged in the research and development of proprietary information-on-demand (IOD) system solutions which comprise a secured e-commerce platform and Internet appliances. In the course of its development of the IOD solution and in a bid to establish working relationships with its potential future customers, the Group has commenced the distribution of Internet appliances since 1999. This business line alone contributed a turnover and net profit of HK$37,136,000 and HK$5,669,000 respectively in the year ended March 31, 2001. The Group is headquartered in Hong Kong with an R&D centre in Shenzhen, the PRC.

The Group raised gross proceeds of about HK$22 million from the placing, which will be used to develop and enhance the infrastructure of its e-commerce platform, marketing and brand building activities, as well as the R&D of Internet appliances.

"Our IOD solution will be ready for trial run in the first quarter of 2002 and we are in active discussions with some educational and entertainment content providers regarding the deployment of our system. Initial response from these potential clients are extremely encouraging as they found our solution a secure, cost-effective and efficient way to offer their content to dispersed target customers," noted Mr Chiu Ting San, Chairman and CEO of IA International.

The Group's placing was sponsored and managed by Vickers Ballas Capital Limited, with Kingston Securities Limited as the joint lead manager. Trading of IA's shares will commence on the GEM board of the Stock Exchange of Hong Kong on Thursday, November 1, 2001.

Issued by :
IA International Holdings Limited

Through :
Troika Communications Limited
Jenny Lee / Stella To / Angus Ho
tel: 2511 8388 / fax: 2511 8238
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