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Mitsubishi Corporation Leads New Round Fundraising of RoadWay

RoadWay Direct Marketing Services Co., Ltd.
2006-12-25 12:40 2849

SHANGHAI, China, Dec. 25 /Xinhua-PRNewswire/ -- Shanghai based direct marketing leader, RoadWay Direct Marketing Services Co., Ltd ("RoadWay") announces the closing of a US$1M new round of fundraising. The investment was led by Mitsubishi Corporation. RoadWay completed a first round of fundraising, led by China Seed Ventures, in March 2006.

"This transaction indicates the strong confidence and interest of Mitsubishi Corporation in the quickly-growing direct marketing businesses in China," said Dixon (Jiang) Yuan, the CEO of RoadWay. After this round of fundraising, RoadWay will accelerate its national expansion; the company will be able to put more resources in product and services innovation; and will leverage the excellent platform of Mitsubishi Corporation to enhance its efforts in developing Japanese clients in China and in Japan. Facing increasing competition from international rivals, Mr. Yuan's strategy for the company is: "expanding aggressively, building up brand name and establishing higher entry barrier." "RoadWay has over 5 years experience in China market and owns obvious advantages in understanding the local market and reacting and adjusting swiftly," Mr. Yuan said.

"We are very pleased to see such a high-quality international strategic investor as Mitsubishi Corporation taking an equity interest in RoadWay," said Mr. Earl Yen, managing director of China Seed Ventures. "We look forward to Mitsubishi Corporation's help and guidance as RoadWay embarks on its next phase of growth and market leadership."

About RoadWay

RoadWay Direct Marketing Services Co., Ltd ( http://www.roadway.com.cn ) is a leading provider of integrated services of direct marketing in China. Based on its powerful database and experienced project execution team, RoadWay is designing and executing integrated direct marketing solutions for hundreds of marketers through multiple ways, such as direct mail, email, Fax, telephone, etc. The company also released a beta version of its Internet-based database search and marketing tool, DMSys ( http://www.dmsys.com.cn ) in Sept 2006.

About Mitsubishi Corporation

Mitsubishi Corporation ( http://www.mitsubishicorp.com ) is Japan's largest general trading company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, MC employs a multinational workforce of approximately 54,000 people. MC has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise.

About China Seed Ventures

China Seed Ventures ( http://www.cseed.cn ) is a seed-stage China-focused venture capital firm targeting investments in seed and early-stage technology and technology-related services companies in Greater China. China Seed's partners combine extensive venture capital, operating and China market experiences to assist entrepreneurs in creating industry-leading companies. Headquartered in Shanghai and with partners in San Francisco and Tokyo, China Seed offers access to high quality partners in Asia and the United States and an extensive network of resources to support its Chinese portfolio companies.

Source: RoadWay Direct Marketing Services Co., Ltd.
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