MNC Completed Tender Offer for Linktone and Assumes Controlling Stake of 57.1%
2008 - Jakarta, 4 Apr 2008

PT Media Nusantara Citra Tbk (MNC, Stock Code: MNCN) announces that it has completed the tender offer process for Linktone (NASDAQ: LTON), acquiring 6 million American Depositary Shares (ADSs) and at the same time subscribing 180,000,000 newly issued ordinary shares of Linktone, both at a purchase price of US$3.80 per ADS (or US$0.38 per share, 1 ADS = 10 ordinary shares).

The tender offer expired at 12:00 midnight, New York City time, on Wednesday, 26 March 2008. After giving effect to the tender offer and subscription, MNC holds approximately 57.1% of Linktone’s total outstanding ordinary shares, through its indirect wholly-owned subsidiary, MNC International Ltd.

Following completion of the above transaction and as previously approved by Linktone’s shareholders at its Extraordinary General Meeting held on 30 January 2008, MNC’s nominees were elected to become members Linktone’s Board of Directors. Accordingly, Linktone’s Board of Directors is now comprised of:

1. Hary Tanoesoedibjo
2. Elaine La Roche
3. Felix Ali Chendra
4. Sutanto Hartono
5. Thomas Hubbs
6. Alan Kwan
7. Michael Li
8. Agus Mulyanto and
9. Jun Wu

Hary Tanoesoedibjo is currently the Group CEO of MNC, while Sutanto Hartono and Agus Mulyanto are both Directors of MNC. MNC retained Michael Li as Chief Executive Officer to resume his role in Linktone.

Michael Li commented, "The completion of the MNC investment and the increase in our cash balance by US$68.4 million will enable us to aggressively implement our cross media strategy in China and other Southeast Asian markets. We anticipate a very strong and mutually beneficial relationship that helps to enhance our value to shareholders."

Hary Tanoesoedibjo said, "We are delighted with the successful completion of this transaction. But this is just the beginning of our venture into regional media, advertising, and entertainment market. We strongly believe that Linktone will be one of our major key growth drivers in the future to significantly enhance shareholders value".

Linktone Ltd is a leading provider of wireless interactive entertainment products and services in China. Linktone provides a diverse portfolio of services to wireless consumers, with a particular focus on media, entertainment, and communications. These services are promoted through the Linktone's own marketing channels and through the networks of the mobile operators in China Through in-house development and alliances with international and local branded content partners, Linktone develops, aggregates, and distributes innovative and compelling products to maximize the breadth, quality and diversity of its offerings. Linktone categorizes China's wireless services landscape as "MAGIC" --Music, Advanced Gaming, Graphics, Instant Messaging, and Community.

Hary Tanoesoedibjo added, "This step is in line with our strategic direction to expand regionally into content and media-related businesses. With an estimated US$15 billion spent on advertising (of which, around 40% was estimated to be spent on television) during 2007 and is predicted to experience a double digit growth to 2010, China is one of the largest and fastest growing advertising market in the world (source: Zenith Optimedia December 2007 edition). We believe that Linktone shall be one of the main beneficiaries of China's growing media and entertainment market. Our belief is based on the facts that in addition to its position as one of the leading providers of consumer wireless interactive entertainment services, Linktone is also strategically positioned to capitalize on the advertising market growth by way of holding the majority rights as the advertising agent to Tianjin Satellite Television and exclusive rights as the advertising agent and sole content supplier to Qinghai Satellite Television".