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For Immediate Release

TOM.COM appoints new CEO

Carl Chang to take up new role in Hutchison

TOM.COM has today (17 July 2000) announced that Mr Sing Wang, currently Chief Investment Officer, will be appointed Chief Executive Officer with immediate effect. The current CEO Carl Chang, who set up the portal and engineered its IPO earlier this year, will return to Hutchison Whampoa to take up a new role within the Hutchison e-commerce division.

With its increasingly heavy emphasis on China-related development and investment, Sing Wang's strong investment and technology background would help TOM achieve its vision.

Wang joined TOM from Goldman Sachs (Asia) LLC where he worked for seven years. He joined Goldman in 1993 as one of the founding members of its Asian Direct Investment team. He also worked in the Equity Capital Market and Corporate Finance Departments and has played an important role in the restructuring of Guangdong Enterprises.

He joined Goldman's High Technology Group in 1999 and served as the head of its China High Technology team.

Prior to joining Goldman Sachs, Wang was a manager of Wardley Direct Investment Management Ltd. Before that he was a strategic consultant at McKinsey & Co in Chicago for three years.

Wang holds directorships in Chinese internet companies, including being the Chairman of

Wang was born and grew up in China. He obtained his Bachelor of Science degree from the Yunnan University in 1982 and worked for the Chinese Academy of Sciences for two years before he went to the UK to further his education. He studied at the Oxford University from 1984 to 1989 and obtained a Master of Science degree in Management with distinction and a Bachelor of Arts degree in philosophy, politics and economics.

When Carl Chang returns to Hutchison Whampoa, he will take on a new role as President responsible for a new Media Convergence Unit in the Group's E-commerce Resources division.


For press enquiries, please contact Rachel Chan / Helen Lam, Corporate Communications Department, TOM.COM LIMITED
Tel: 2121 7810 / 2121 7811
Fax: 2127 7576
e-mail: [email protected] / [email protected]