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NEWS!! PacNet Appoints Financial Expert as New Independent

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$pooky Member Level  Tuesday, 03/16/04 01:05:45 PM
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NEWS!! PacNet Appoints Financial Expert as New Independent Director to its Board

SINGAPORE, Mar 16, 2004 /PRNewswire-FirstCall via COMTEX/ -- Asia's largest telco- independent Internet Communications Service Provider by geographic reach, Pacific Internet Limited or PacNet (Nasdaq: PCNTF), today announced the appointment of Mr. David Wong as an independent director to its Board. Mr. Wong will also head the Board's Audit Committee. With the latest appointment, PacNet now has a majority number of independent directors on its nine-member Board of Directors.

Mr. Wong spent the most part of his career in Ernst & Young. During his 13-year stay at the company, he established and managed its Singapore consulting division and was the Partner leading its Public Sector Industry Group. Mr. Wong's other career span included serving as Group Managing Director of Wearnes Technology, a division of Singapore-listed WBL Ltd. He was also formerly a pilot with the Republic of Singapore Air Force (RSAF). Mr. Wong is a member of the Institute of Chartered Accountants in England and Wales, as well the Institute of Certified Public Accountants in Singapore.

Ms. Low Sin Leng, Chairman of the Board at PacNet said, ''Mr. Wong's expertise in the financial arena is key to our commitment to business and financial transparency. We welcome his appointment and look forward to his contribution in charting PacNet's long-term growth plan."

The latest Board of Directors composition at PacNet is as follows:

* Ms. Low Sin Leng -- Chairman of the Board of Directors
* Mr. Vincent Phua -- Director
* Dr. Lee Tsao Yuan -- Director
* Ms. Chong Phit Lian -- Director
* Mr. Tan Tong Hai -- Director
* Mr. Yeo Wee Kiong -- Director
* Mr. Lawrence Wee -- Director
* Mr. Stephen Yeo -- Director
* Mr. David Wong -- Director

About Pacific Internet Limited

PacNet (Nasdaq: PCNTF) is Asia's largest Telco-independent Internet Communications Service Provider by geographic reach with operations in Singapore, Hong Kong, the Philippines, Australia, India, Thailand and Malaysia. In 1999, the Group became the first Asian Internet company to successfully list on the NASDAQ stock exchange. Pacific Internet delivers a range of end- to-end Internet access and value added services that enhance the lifestyles and work styles of its corporate and consumer customers. More information can be found at www.pacnet.com.

Cautionary Statement

Statements made in this press release with respect to Pacific Internet's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Pacific Internet. Forward-looking statements include but are not limited to those using words such as "may," "might," "seeks," "expects," "anticipates," "estimates," "believes," "projects," "plans," ''strategy," "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including but not limited to (i) changes in the economic, regulatory and political environments in the countries where Pacific Internet operates; (ii) changes and developments in technology and the Internet marketplace; (iii) Pacific Internet's continued ability to develop and win acceptance of its products and services, which are offered in highly competitive markets; (iv) the success of its joint ventures and alliances; (v) exchange rates, particularly between the Singapore dollar and the U.S. dollar and other currencies in which Pacific Internet makes significant sales or in which its assets and liabilities are denominated; and (vi) the outcome of contingencies. In light of the many risks and uncertainties surrounding the Internet marketplace, the actual results could differ materially from those discussed in the forward-looking statements. Pacific Internet assumes no obligation to update any such statements.

For further information:

Investor Contact:
Khoo Seok Teng
Tel: +65-9623-1567
Email: investor@pacific.net.sg

Asian Media Contact:
Mervin Wang
Tel: +65-9798-6077
Email: mervin.wang@pacific.net.sg

US Media Contact:
Mark Kollar
Tel: +1-212-896-1201
Email: mark.kollar@cubitt.com

SOURCE Pacific Internet Limited

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