B2BWorks Pursues Global Online B2B Trade Initiatives

Leading U.S. Online B2B Marketing and Media Services Provider Enters Exclusive Partnership with AdSociety

CHICAGO, May 15, 2001-AdSociety, the first pan-Asian broadband advertising, marketing, and sales network, and a majority-owned joint venture of PCCW (SEHK: 0008, NYSE: PCW) has signed an exclusive sales partnership with U.S.-based B2BWorks, the leading full-service online B2B marketing and media services company.

Under the deal, AdSociety will be granted access to B2BWorks' dominant online advertising network of more than 500 leading B2B Web sites that span 60 vertical industries, including automotive, aviation, aerospace, construction, business, chemical, healthcare, pharmaceutical, manufacturing, technology, and human resources. The network receives approximately 17 million unique business visitors per month.

In return, B2BWorks will gain access to AdSociety's pan-Asian network of advertisers across eight key Asian cities and inventory of over 1,000 narrowband and broadband Web sites. Both AdSociety and B2BWorks have experienced growing interest from North American and European marketers to build brands, establish virtual, global trading alliances and reach global business audiences.

"Asia presents huge trade opportunities for U.S. businesses, and many online advertising opportunities not yet realized," said Bill Furlong, founder, president and CEO of B2BWorks. "Our leadership position in the U.S., coupled with AdSociety's domination of the pan-Asian markets allows the two companies to create the first truly global online B2B advertising network."

AdSociety and B2BWorks will offer their respective advertisers a range of advertising, branding, and CRM services through focused banner campaigns, microsites, newsletters, custom content sponsorships, permission e-mail lists, rich media, and other innovative marketing avenues.

"Our exclusive partnership with B2BWorks immediately strengthens our position as one of the leading global providers of interactive marketing services and solutions in both the B2C and B2B advertising markets. We can now consolidate valuable advertising inventory across the globe,

across vertical markets and user groups to offer a truly one-stop-shop advertising vehicle for our clients," said Patrick Jonathan Wong, founder and CEO, AdSociety.

In addition to B2BWorks, AdSociety's network in North America and Europe is supported by their strategic partnerships with L90 (Nasdaq: LNTY), a premier marketing, technology and media company in the US, and Interactive Media ContentSuite AG (a Axel Springer Verlag company), a leading online information services provider and the largest provider of teletext services in Germany, the forefront of Europe's online advertising market.

About B2BWorks

B2BWorks is the premier full-service online B2B marketing and media services company that gives marketers one-stop access to a wide range of the most popular business-content sites owned by leading trade publishers and associations. B2BWorks helps business marketers meet their targeted advertising, branding and CRM needs through focused banner campaigns, microsites, newsletter and custom content sponsorships, permission e-mail lists, rich media and other innovative marketing avenues.  B2BWorks currently delivers more than 100 million page views and reaches over 17 million unique business executive visitors monthly through its network of 500+ site affiliates serving more than 60 vertical industry segments. B2BWorks is headquartered in Chicago with offices in New York, Boston and San Francisco. For more information, please visit www.b2bworks.net

About AdSociety

AdSociety, a majority-owned joint venture of PCCW (SEHK: 0008, NYSE:PCW), is the first pan-Asian broadband and wireless advertising, marketing and sales network. AdSociety currently provides advertising, marketing and sales services to PCCW-related companies as well as pioneering online, broadband and wireless marketing solutions and services to marketers and over 1,000 member websites.

With operations commenced in June 2000 and headquarters established in Hong Kong, AdSociety has offices in Beijing, Seoul, Shanghai, Singapore, Sydney, Taipei and Tokyo and currently employs over 120 media professionals with a proven track record in pioneering advertising sales for broadcast television and the Internet in Asia. Its founder and management team were part of the core team that pioneered advertising sales for Star TV, the first pan-Asian satellite broadcasting television network (a News Corp company) and were also the core team who pioneered advertising sales for 24/7 Media Asia, the first pan-Asian Internet advertising network (a Chinadotcom company).

AdSociety's investors and strategic partners include AdForce (a CMGion company), LG Advertising (a LG Group company), L90 (Nasdaq: LNTY), Interactive Media ContentSuite AG (a Axel Springer Verlag company), SkyGo Inc (a Vanguard Investee), AdClick (a KT Internet company), e-Brilliant (a joint venture between Hong Kong-listed e-New Media and US-listed Brilliant Digital Entertainment), Media Genesis (an Icon MediaLab company), Australia Media Holdings (a SportsWorld company) and B2BWorks. More information on AdSociety can be found in www.adsociety.com.  

For further information, please contact:

Samantha Chan                                                                    

Director of Corporate Communications

AdSociety Limited

Tel: +852 2509 2236                                                                

Email: Samantha.chan@adsociety.com