Aspiro to enter Chinese market

Aspiro has signed a Memorandum of Understanding with Hong Kong-based Imoeba Ltd for mutual distribution of each company’s respective applications. Imoeba will sell Aspiro’s products in China, Hong Kong, Singapore as well as Taiwan. Aspiro will become a reseller of Imoeba’s products in Europe and North America.

Imoeba Ltd, is a well established supplier of mobile applications throughout the east Asian market. Since 1999, Imoeba has delivered its mobile platform and entertainment applications to 16 operators and portals in China, Hong Kong and Taiwan. Popular applications include I-date (a virtual dating game), Super Stable (an interactive mobile game) and Heroes in Fighting (a mobile action game for multiple players). The company is planning an introduction on the Hong Kong stock exchange within short. "The partnership with Imoeba provides us with an excellent entry to the Asian market and has the possibility to generate substantial revenue already during 2003,” says Håkan Persson, CEO of Aspiro. “We have chosen Imeoba as our partner because they are well positioned and recognized by operators in many of Asia’s most attractive markets, have a complementary product portfolio to Aspiro’s and have shown a proven ability to successfully sell mobile applications.” Today, China is the world’s largest mobile market with over 140 million mobile subscribers and a yearly growth of about 30%. During 2002 it is forecast that 60 billion SMS will be sent in China. According to Imoeba, Aspiro’s present product portfolio is well suited for the Chinese market. Imoeba will facilitate the localization of Aspiro’s products for introduction to China, Hong Kong, Singapore and Taiwan. ”Our entry into the Asian market greatly increases the market reach for our product portfolio.” says Håkan Persson ”This gives Aspiro the possibility to increase the revenue potential for our present applications giving us a better return on already made investments.” For more information, please contact: Fredrik Syrén, Head of Partner Relations, Aspiro AB, tel: +46 708 21 80 03, e-mail: fredrik.syren@aspiro.com Helena Gynnerstedt, Informationschef, Aspiro AB, tel: +46 40 630 03 18, e-mail: helena.gynnerstedt@aspiro.com

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Aspiro is a media technology company on the forefront in the ongoing redefinition of music consumption. Through its subscription services WiMP and TIDAL, the company offers a complete music experience with HiFi quality audio and integrated editorial, magazine and video. In parallel, Aspiro is a content provider to the online media industry through RADR, helping its partners to attract and retain visitors on their web sites. See more on www.aspiro.com