Cisco Systems Congratulates Government of Singapore on Formation of New Information and Communications Technology Board Infocomm Development Authority of Singapore (IDA) represents sound vision of government to position republic at the forefront of Global Information Economy; Cisco Executive Appointed to IDA Board SINGAPORE - December 14, 1999/PRNI-HK-AsiaNet/ -- Singapore's recent announcement of a new statutory board, the Infocomm Development Authority of Singapore (IDA), to spearhead the country's drive to become a global info-communications center and worldwide digital hub, is a significant milestone for the region, said Cisco Systems, Inc., today. "The merger of the two agencies responsible for information technology and telecommunications into one is a prescient move on the part of the Singapore government. It's a recognition of the blurring of the lines between the IT and communications industries and the move to a New World of Communications based on Internet Protocol," said Bill Chang, Managing Director of Cisco Systems in Singapore. Added Todd Abbott, Managing Director of Asia for Cisco Systems, who has been appointed to the 14-member IDA board: "Singapore is clearly on the forefront of technology and communications in the Asia Pacific region and is on the verge of becoming a world power. It has been a shining example of how firm government support can speed up developments in the fast-paced Internet Economy. Countries are changing quickly in response to the convergence of the Internet and telecommunications and multinationals are investing in countries where cost-effective infrastructure, talent and a venture capital mentality come together. The key to success in the Internet Economy will be speed of execution and Singapore will drive its advantage as long as it executes quickly." The IDA board will meet regularly to discuss directions and trends in the global and regional IT and telecommunications industries and provide advice on how Singapore can achieve its aims of becoming a worldwide center for info-communications. "Cisco Systems has a wealth of experience as the worldwide leader in networking for the Internet. We believe that our experience as a leader in the Internet economy can be of great value to Singapore and represent a very good opportunity for private industry and government to co-operate. It is an honour for Cisco and for me personally to be appointed to this distinguished board," said Abbott. Cisco Systems, Inc. (NASDAQ:CSCO) is the worldwide leader in networking for the Internet. More information on Cisco is available at www.cisco.com. Cisco, Cisco IOS, Cisco Systems and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. in the U.S. and other countries. All other trademarks mentioned in this document are the property of their respective owners. Press Contact: William Oei Tel: (65) 833-5555 E-mail: [email protected] SOURCE: CISCO SYSTEMS