(Hong Kong, January 21, 2002) - MediaNation Inc. ("MediaNation" or the "Company"), a leading outdoor advertising company in China, announced today the details of the Company's revised share offering for listing on the Growth Enterprise Market ("GEM") in Hong Kong.

The Company will offer approximately 171 million shares, which is approximately 28.3% of the Company's total issued share capital. The issue price for the Hong Kong Public Offering and the International Placing is HK$2.60 per share, at which price the revised offering was oversubscribed. Dealing in the shares on the GEM is expected to begin on Thursday, January 24, 2002. Based on the offering price, the Company's market capitalization post IPO is approximately HK$1.6 billion.

MediaNation will raise approximately HK$394 million of net proceeds after underwriting fees and estimated deal expenses. MediaNation will use the proceeds to leverage its existing leadership position in the outdoor advertising industry in China.

MediaNation's original shareholders, including Warburg Pincus and PAMA, have decided not to sell any of their shares as part of the Placing. This decision reflects the original shareholders' confidence in the Company's future.

Kam Ling, CEO and Executive Director of MediaNation, said, "We are gratified that despite volatile market conditions, many global investors have decided to participate in our offering, including a number of the world's largest and most respected institutional investors from Asia, Europe and the United States. Our original investors decided not to proceed with the planned sale of certain shares in the Company, demonstrating their continued confidence in the long term success and growth of MediaNation. We are confident about the Company's ability to perform well given its favorable position in the rapidly expanding and lucrative outdoor advertising market in China."

Frank Nash, Head of Global Corporate Finance, Asia Pacific, Deutsche Bank, said, "It is a tribute to the management team that they have been able to complete this transaction in difficult market conditions. The pricing was completed within the filing range and all of the primary funding the Company sought was raised. This will enable the Company to continue to build on the growth and success it has had to date."

The Company visited investors in eleven cities in Asia, Europe and the United States on a two-week roadshow.

Since its inception in 1992, MediaNation has experienced rapid and consistent growth in both the size and diversity of its product and network portfolio. The Company's network includes the exclusive rights to advertising displays on more than 17,000 buses in 17 major cities in the PRC, 4,795 buses operated by two of the three largest bus operators in Hong Kong and five out of the seven metro lines currently operating in the PRC. Along the way, MediaNation has built a diversified customer base among domestic and international advertisers.

The information contained herein is not for publication or distribution to persons in the United States of America. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. The materials do not constitute an offer of securities for sale in the United States; the securities may not be offered or sold in the United States absent registration or an exemption from registration; and any public offering of securities will be sold pursuant to a prospectus that may be obtained from the issuer or the selling security holder that will contain detailed information about the Company and management, as well as financial statements.

For Further Information:
Ogilvy Public Relations Worldwide
Renee Hartmann or Patrick Duplat
Tel: (8610) 6443 6488
Email: patrick.duplat@ogilvy.com

t6.communications limited
Veronica Yum or Jenny Lee or Stella To
Tel: (852) 2511 8388
Email: enquiry-at-t6pr.com (use "@" to replace "-at-")