Global Sources continues global expansion with new licensing agreement in Indonesia Hong Kong, June 2, 2000/HK PRNewswire-AsiaNet/ -- Global Sources Ltd. (NASDAQ: GSOL), a leading B2B market maker and e-commerce solutions provider for the global trade community, today announced that it has signed a licensing agreement with PT Global Jaringan Nusantara (PT Global) to establish a new local portal, Indonesian Sources Online. The new site will launch at the end of this month and will be a part of the established Global Sources Online marketplace (www.globalsources.com). The site will also be integrated with Global Sources' existing network of geographical portals that currently comprise Hong Kong, Taiwan, China, Korea, Thailand, Australia and South Africa. "Global Sources' community of 203,000 active buyers are looking for new suppliers from competitive supply markets," said Craig Pepples, Chief Operating Officer of Global Sources. "Indonesian Sources will open up a whole new source for them, while giving Indonesia's exporters access to the proven Internet marketing channel for trade." The partnership will also bring over 10,000 Indonesian suppliers from the Indonesian Exporters Association and its 122 subordinate organizations to Global Sources' international supplier community, which today totals over 86,600 exporters residing in 90 countries worldwide. Commenting on behalf of PT Global, Mr. M. Helmi Kamal Lubis, co-founder and Chief Financial Officer, stated, "The economic conditions of the last few years have clearly highlighted the challenges that Indonesia's exporters face in promoting their goods internationally. "Through Indonesian Sources Online we hope to open up new marketing channels for Indonesian exporters, to help contribute towards resparking an economy in which export growth surged by 38.6% in the first quarter of 2000. The alliance will also clearly put Indonesia's trading community on the Internet roadmap." Indonesian Sources Online will also bring a large number of Indonesian textile suppliers to the Global Sources community through PT Global's newest member, the Indonesian Textile Foundation, by means of a new vertical portal also to be linked to Global Sources. Textiles are one of Indonesia's largest export commodities. In conclusion, Mr. Pepples stated, "We are confident that the partnership we are announcing today will transform the way trading will be done in Indonesia. Both Global Sources and PT Global have a shared vision on the importance of e-business in fostering the growth of the Indonesian economy. "With our combined resources, technology and professional know-how, only Global Sources and PT Global can provide a truly safe and reliable online trading environment for Indonesian's import and export business." Global Sources (NASDAQ: GSOL) is a leading infomediary and neutral B2B market maker for volume buyers and suppliers worldwide. Global Sources has been operating for over 29 years and has developed one of the world's most comprehensive databases of export products and suppliers. Global Sources is a B2B e-commerce provider offering a web-based "end-to-end" e-commerce solution which enables its buyer community to interface electronically with suppliers in all phases of the supply chain management process in all corners of the world. Its e-commerce services are tailored for eight industry-specific verticals: Computer Products, Electronic Components, Consumer Electronics, Timepieces, Gifts and Home Products, Fashion Accessories, Telecom Products and Hardware. Global Sources community currently includes over 203,000 active buyers who are able to locate over 86,600 supplier contacts from more than 90 countries and source over 81,100 products per day, with detailed specifications and color images. Global Sources Online generated 161,795 Requests for Information (RFIs) from buyers to suppliers in April 2000. User sessions were recorded at 862,699 and the number of hits totaled 35,565,676 in the same month. This news release contains forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the Securities Exchange Act of 1934, as amended. The Company's actual results could differ materially from those set forth in the forward-looking statements as a result of the risks associated with the Company's business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements. Contact: Camellia So Tel: 852-2555-5042 Fax: 852-2518-8764 e-mail: [email protected]