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VODone, Longcheer, and CMEDIA Sign MOU

2010-03-18 19:58 1128

Driving the fast development of the mobile lottery business

HONG KONG, March 18 /PRNewswire-Asia/ -- VODone Limited ("VODone" or the "Company"; stock code: 0082.HK), is pleased to announce the following recent development: on March 16, 2010, the Cross-Straits Communication Security summit was held at the Diaoyutai State Guesthouse with the theme "Cross-strait Conference of Safety Technology of Mobile Phone Payment," organized by sponsors China Communications Standards Association and SINOCON Industrial Standards Foundation, as well as co-sponsors VODone and CMEDIA.

During the meeting, VODone, Longcheer and CMEDIA formed a Memorandum of Understanding (MOU), which established a strategic cooperation relationship in mobile lottery. All parties involved will benefit from this cooperation and drive the healthy development of the mobile lottery business. To echo the theme of this meeting, VODone presented a comprehensive integrated platform packaged with a security mechanism that includes entertainment products with lottery sales at its core.

Longcheer Holdings Limited is a high-tech enterprise which specializes in the research and development of mobile phones. It is listed on the main board of the Singapore Stock Exchange. CMEDIA is a listed company in Taiwan. It is the first supplier to introduce an integrated system of mobile phone security. VODone is one of the largest State-affiliated new media enterprises in China, and recently its mobile lottery business has been growing rapidly.

Renowned members from both sides of the Straits gathered together for this summit. People representing Taiwan include: Mr. LIAN Shengwen, Central Standing Committee member of the Kuomintang and Chairman of Taipei EasyCard Corporation; Mr. LI Weide, Central Standing Committee member of the Kuomintang; Mr. WU Zhigang, member of the Kuomintang Central Executive Committee and people's representative of Taipei City; Mr. CHEN Yaozhang, Mr. MAN Zhigang, Mr. XU Hongting, Central Standing Committee members of the Kuomintang; Mr. CHEN Ruilong, Chairman of SINOCON Industrial Standards Foundation; Mr. LIAO Qingfeng, chief representative of Mediatek in China; Mr. ZHENG Qicheng, Chairman of CMEDIA; while people representing China include: Mr. XU Mang, Secretary of the Economic Department of Taiwan Affairs Office of the State Council; Mr. WEN Ku, Director of the Ministry of Industry and Information Technology; Mr. ZHOU Baoxin, Secretary General of China Communications Standards Association; Dr. ZHANG Lijun, Chairman of VODone; Ms. LIU Fei, Technical Director of China Mobile Communications Corporation; Mr. SUN Yutao from the China Academy of Telecommunication Research; and Mr. Du Junhong, Chairman of Longcheer Holdings Limited.

Leaders and guests attending agreed that this cooperation between the two sides of the Straits could be considered a perfect marriage of "Created in China" and "Made in China", establishing a win-win trade cooperation model for both sides, which will be an excellent demonstration that the media industry, cultural creativity industry and cause of public welfare in Mainland China and the high-technology industry in Taiwan and China both benefit through cooperation, with far-reaching effects.

The International Telecommunication Union ("ITU") reported that global mobile phone subscribers will reach 4.6 billion by the end of 2009, which represents an average of two mobile phone subscribers for every three people. Meanwhile, many people have multiple mobile phones in developed countries.

With the increasing popularity of mobile terminals and increasing variety of mobile phone functions and as the main transmitters of personal messages, mobile phone security is becoming extremely important. In late 2009, a research report titled "Market of Mobile Phone Security in China" was published by Frost & Sullivan, a world class and well-known growth consulting company, which noted that mobile phone security in China is entering a fast-growing period. With the increased popularity of smartphones, enhanced 3G networks and the growing trend of using mobile phones to access the internet, mobile phone security will be the major application of mobile phone terminal in the future. The report also states that although mobile phone security in China is still at start-up stage, the mobile phone security market is having an irreversible trend of rapid growth and its development direction is becoming clearer.

About VODone Limited

VODone (http://www.vodone.com ) is currently the only Internet video broadcasting company listed in Hong Kong. The affiliated company of VODone - VODone Telemedia is a state-owned enterprise which has the fullest set of qualifications and licenses in China's Internet broadcasting industry. It has also obtained the Information Network Communicated Audio-Video Program Licence, Internet News Permit, Value added Telecom Service Operation License, Internet Publication Permit and all other required licenses, ensuring itself a healthy development in the future.

China Welfare Lottery Center is responsible for monitoring and controlling the three operations and purchasing of Welfare Lottery in the PRC, and the same as China Association of Social Workers, it is governed by the Ministry of Civil Affairs of the People's Republic of China. VODone Telemedia is a state-owned enterprise of the China Association of Social Workers, this ensures the reliability of VODone's lottery ticket sales distribution channel. VODone has signed a 50 years operational contract with VODone Telemedia, ensuring VODone Telemedia will exclusively provide a series of telemedia services to VODone.

Och-Ziff Fund holds about 5.6% shareholding interest in VODone.

Source: VODone Limited
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