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Network365 Makes TIME magazine's"Europe's 50 Hottest Tech Firms" list for the second time

Dublin, Ireland, 20th May 2002 - Network365 the leading provider of world-class application platforms enabling the mobile lifestyle has made TIME magazines prestigious "Europes 50 Hottest Tech Firms" list for the second year in a row. Including the company in its 2002 list, TIME cited Network365s success in selling its mzone technology to leading global corporations such as Hutchison 3G. Hutchison 3G is deploying Network 365s payment platform, mzone avatar, to deliver secure payment services to its customers initially in the UK, Italy and Sweden and then in other countries where Hutchison Whampoa has 3G interests, including Denmark, Austria, Australia and Hong Kong.

Network365 is fast developing a reputation on the global wireless stage as a company which is delivering application platforms that fully leverage network operators investments in next generation networks and devices. Earlier this year the company was voted Best Wireless Application Developer 2002 by the GSM Association.

Network365 has a very focused strategy and we are determined to secure the position of technology provider of choice for the worlds leading service providers and operators. One of the advantages of our mzone product suite is that it is operable across GPRS, EDGE, UMTS (3G) and i-mode. mzone is already proving successful with deployments by leading operators in the Far East and Europe. In addition to H3G, leading operators such as O2,, Hong Kong CSL, Celltel Lanka, Oskar in the Czech Republic and Meteor Mobile Communications in Ireland are deploying mzone products, said Raomal Perera, CEO, Network365.

The decision to focus on Japan early in our development was a brave one which is now paying dividends for our company. Because we have an on the ground presence in this leading market, we are better positioned than many of our competitors when operators in Europe and the rest of the world are looking to mirror the success of Japan and want to deploy mobile services to their customers. This recognition of our work by TIME magazine is a wonderful achievement for Network365, he said.

Mr Masatoshi Suzuki, General Manager, Network Service Department at Taito Corporation, Japans leading developer and publisher of interactive entertainment software said; Using Network365s technology we are able to deliver a unique mobile loyalty program for existing and new customers who purchase goods or gaming (data) from their mobile device which they always have in hand. Network365s ability to deliver a highly customized solution specific to our needs was the deciding factor in choosing to work with the company and we are very impressed with the rapid deployment of the service by Network365s engineering team.

Since its establishment Network365 has concentrated on building a global presence and developing unique skills by concentrating exclusively on the requirements of the mobile market. Founded in 1999, the company is headquartered in Ireland and has offices in Japan, Italy, Sri Lanka, Hong Kong, the UK, Latin America and the USA. Since its foundation, Network365 has garnered worldwide acclaim for its broad, yet focused wireless product strategy. mzone addresses all the elements of the mobile Internet value chain from mCommerce and secure and personalized payment, to advanced messaging and optimized content anywhere. It includes four innovative platforms: mzone kiosk, a complete mobile shopping solution for merchants; mzone avatar, a feature rich mobile solution which enables secure payment, personalization and identification; mzone maestro, delivers optimized content and services to enable the mobile lifestyle; and mzone agora is an advanced messaging application platform for fun, innovative mobile experiences.

Network365 makes the TIME magazine "Europes 50 Hottest Tech Firms" list. - May 27 issue. See http://www.time.com

About Network365 Ltd.

Network365, Best Wireless Application Developer, GSM Association Awards 2002, is a leading provider of world-class application platforms enabling the mobile lifestyle. Founded in 1999, the company is headquartered in Ireland and has offices in Japan, Italy, Hong Kong, Sri Lanka, the UK, Latin America and the USA. Since its foundation, Network365 has garnered worldwide acclaim for its broad, yet focused, wireless product strategy and has developed unique skills by concentrating exclusively on the requirements of the mobile market. As network operators and service providers rollout high- speed data services on mobile devices, Network365 is increasingly becoming the partner of choice to supply application platforms.

The Network365 product range, known as mzone, is a complete mobile application infrastructure enabling a world of mobile experiences. mzone addresses all the elements of the mobile Internet value chain from access to advanced messaging to secure mobile commerce. mzone currently includes four innovative platforms: mzone kiosk, a complete mobile shopping solution for merchants; mzone avatar, a feature rich mobile solution which enables secure payment, personalization and identification; mzone maestro, delivers optimized content and services to enable the mobile lifestyle; and mzone agora is an advanced messaging application platform for fun, innovative mobile experiences.

Key customers include: Hutchison 3G, Hong Kong CSL, mmO2, Oskar, Celltel Lanka, Meteor Mobile Communications and BETDAQ in Ireland.

For more information, visit: http://www.network365.com

For more information, please contact:

Network365
Evanna Kearins
Marketing Communications Manager,
Tel: +353 1 2764511 / +353 87 2896579
Email: [email protected]

John Hurley,
VP Marketing
Tel: +353 1 2764508
Email: [email protected]