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NetEase.com Reports Receipt of SEC ``Wells Notice'


Business Editors

BEIJING--(BUSINESS WIRE)--NTES--
As previously disclosed by NetEase.com, Inc.
(Nasdaq:NTES), the staff of the U.S. Securities and Exchange
Commission (SEC) has been conducting an investigation related to
NetEase's restatement of its financial statements for the year ended
December 31, 2000. NetEase today announced that it has received a
"Wells notice" from the SEC staff which states that the staff intends
to recommend that the SEC bring a civil injunctive action against the
Company for alleged violations of the federal securities laws, which
action NetEase believes will be in connection with the circumstances
relating to the restatement.<<<

NetEase believes that any such action
will relate only to conduct that occurred more than two and a half
years ago and has no relation to its present management or operations.

Under SEC procedures, NetEase has the opportunity to respond to
the SEC staff before the staff makes a formal recommendation regarding
any action to be taken against NetEase by the SEC. NetEase will
continue to fully cooperate with the SEC in this matter and attempt to
resolve it as soon as possible.

About NetEase

NetEase.com, Inc. is a leading China-based Internet technology
company that pioneered the development of applications, services and
other technologies for the Internet in China. Our online communities
and personalized premium services have established a large and stable
user base for the NetEase Web sites which are operated by our
affiliate. As of February 29, 2004 we had approximately 185 million
accumulated registered accounts, and our average daily page views for
the month ended February 29, 2004 exceeded 309 million.
Community products and services which the NetEase Web sites offer
include instant messaging, personals, matchmaking, alumni clubs,
personal home pages and community forums. NetEase is also the largest
provider of free e-mail services in China. Furthermore, the NetEase
Web sites provide 20 channels of content. NetEase sources news content
on world events, sports, science and technology, and financial markets
as well as entertainment content such as cartoons, games, astrology
and jokes from over one hundred international and domestic content
providers.
NetEase offers Internet advertising on its Web sites as well as
paid listings on its Search Engine, Web Directory and Classified Ads,
and an Online Mall, which provides opportunities for e-commerce and
traditional businesses to establish their own storefront on the
Internet.
NetEase also offers Wireless Value-added Services such as news and
information content sent over SMS, MMS and WAP technologies, and
Online Game services through three massively multi-player online
role-playing game titles, Westward Journey Online 2.0, Fantasy
Westward Journey and PristonTale 2.0.