Press Release

Hong Kong, July 3, 2000 - SurfGold.com and TOM.COM LIMITED (TOM.COM / TOM ) today announced that they are jointly developing an online loyalty programme with the largest collection of redemption options in the region.

Exclusively developed for TOM.COM members, the programme will be launched in early August as an integral component of TOM.COM's marketing initiative as one of TOM.COM membership benefits and to enhance stickiness of the portal.

With the variety of redemption options on offer under the programme, TOM.COM members will be able to exchange attractive products and services from the points they earn on TOM.COM. These options include merchandise available at TOM's Shop as well as items from the fast-expanding SurfGold.com redemption network of 45 local redemption partners, which have more than tripled in only three months.

SurfGold.com have over 130 merchants across Asia, offering thousands of redemption items. Together, there are over 10,000 outlets in Asia participating as redemption partners. The number of redemption partner is expected to grow even faster in the coming months.

"It is our objective to instill a sense of belongings among our registered users and to create portal stickiness. We believe an attractive loyalty program is an effective customer-oriented marketing programme," said Mr Adley Low, Senior Manager, Marketing & Corporate Communications of TOM.COM LIMITED. "We are delighted to have SurfGold.com to become our strategic online marketing partner to develop our first online loyalty programme. With TOM's branded merchandise and redemption options supported by SurfGold.com's expertise in online customer loyalty solutions in Asia, our loyalty programme will best suit the needs of our members."

"The Internet industry in Asia has experienced dramatic growth in only a few years," said Mr. Kenneth Cheuk, managing director of SurfGold.com Hong Kong. "As a result, online companies face increasing competition. To succeed, e-merchants and portals must differentiate by building one-to-one relationships with their customers. Our advanced technology and rapidly-expanding redemption network have secured our position as Asia's leading online loyalty solution provider. By maximising the TOM.COM brand and its well-established redemption network, the jointly developed loyalty program will clearly demonstrate how to retain the loyalty of netizens."

It is anticipated that market demand for sophisticated online loyalty solutions will increase dramatically within the next few months. Forrester Research forecasts by 2004 more half of the projected US$22.2 billion in Internet advertising expenditure will be poured into performance based marketing as opposed to more traditional CPM advertising.

About TOM.COM

TOM.COM is a unique and dynamic mega portal offering the most comprehensive China content to global browsers in different languages, while also meeting the growing demand for unique global and China-related content for Chinese audiences. Its mandate is to "Bring China to the World and the World to China".

An associate of Hutchison Whampoa Limited, TOM.COM Limited is a joint venture formed by Hutchison Whampoa Limited, Cheung Kong (Holdings) Limited and other strategic investors.

TOM.COM launched an aggregation of 8 vertical portals in June, 2000 offering indepth and comprehensive content spanning across lifestyle, news, finance, games, travel, movie and music. TOM.COM can be found on the Web at www.tom.com (for global audiences) and at www.cn.tom.com (for audiences in The People's Republic of China). Headquartered in Hong Kong, TOM.COM has established offices in Beijing and Shanghai.

About SurfGold.com

Founded in Singapore in June 1999, SurfGold.com develops and markets Asia's premier WAP-enabled online customer loyalty programme for online/offline merchants, web portals, 'clicks-and-mortar' companies and WAP service providers.

SurfGold.com is the largest Asian rewards programme network with over 300,000 members and more than 130 merchants and redemption partners, which include Asia Miles, Avis Car Rentals, Pan West, Hard Rock Caf? Planet Hollywood, Haagen Dazs, HMV, Amazon.com and Hyatt Hotels.

With offices in Hong Kong, India, Korea, Singapore and Taiwan, SurfGold.com plans to expand into Australia and the rest of Asia by end of year 2000 and to progressively enlarge its base of participating merchants and redemption partners around Asia.

SurfGold is a trademark of SurfGold.com Pte Ltd. All other trademarks or registered trademarks are the property of their respective owners.

Issued on behalf of SurfGold.com and TOM.COM by Newell Public Relations

For further information, please contact:

Ada Lam (SurfGold.com), Tel: (852) 2131-8992; Email: ada@surfgold.com

Rachel Chan/Helen Lam (TOM.COM), Tel: (852) 2121-7810/11;
E-mail: rachelc@hk.tom.com; helenl@hk.tom.com

Vivien Lam (Newell Public Relations), Tel: (852) 2117-5016; Email: vivienl@newell.com