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PacificNet Successfully Completes the Digital Content Distribution E-commerce System for Sony

Posted on: Tuesday, 8 July 2003, 06:00 CDT

PacificNet Inc. (NASDAQ: PACT) announced that it has successfully completed a new system upgrade, the Digital Content Distribution E-commerce System, for Sony (NYSE: SNE). PacificNet designed the new Digital Content E-commerce System which enables So-net's customers to purchase electronic content products from Sony's online shop, download the CD keys using PacificNet's eMerchant2000 shopping cart, and make payment online using credit card or Sony's "Smash Payment" system.

PacificNet was selected by Sony as the e-commerce and Customer Relationship Management (CRM) software developer for So-net, Sony's first internet venture outside of Japan. The So-net e-commerce platform developed by PacificNet is consisted of several phases of internet-based applications: Phase 1 -- development of an internet application platform to serve all So-net customers and users in Asia; Phase 2 -- development of an online payment system for So-net's customers to perform online commercial transactions using the "Smash Payment" platform; Phase 3 -- integrating the So-net e-commerce platform with Sony's back-end finance, CRM, inventory, and logistics systems.

Tony Tong, CEO of PacificNet stated, "We are proud to be a key technology provider for Sony, a leading consumer brand in the world. In addition, our joint venture with International Elite represents a compelling strategic move by PacificNet to capture part of the rapidly growing value-added telecom, SMS, and CRM call center services market in Greater China. Through these type of joint venture partnership and strategic acquisitions, we strive to increase our customer base, revenues and profits, and improve our shareholder value."

About PacificNet

PacificNet Inc. (www.PacificNet.com) (NASDAQ: PACT) is a leading technology investment and management company that invests in customer relationship management (CRM) solutions, e-commerce solutions, mobile applications, and telecommunications in Asia. The company grows by acquiring and managing growing technology and network communications businesses with established products and customers in Asia.

About Sony Corporation

Sony Corporation (NYSE: SNE) is a leading manufacturer of audio, video, game, communications and information technology products for the consumer and professional markets. Sony is one of the leading multi-national corporations in Asia, with 38 companies spanning 15 countries and supported by a family of over 40,000 employees. So-net HK, a wholly owned subsidiary of Sony Corporation of Hong Kong Limited, was launched in July, 2001 as Sony's first internet venture outside of Japan. Sony's web sites: www.world.sony.com, www.so-net.com.hk

This news release contains forward-looking statements. Actual results may differ from any forward-looking statements contained in this news release due to a number of factors that could adversely affect PacificNet's business, financial condition, operating results and stock price. These factors are discussed in more detail in PacificNet's filings with the SEC at www.sec.gov.

 PacificNet USA: 860 Blue Gentian Road, Suite 360, Eagan, MN 55121-1575, USA 

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