MNC & LINKTONE TOGETHER ACQUIRED CONTROLLING STAKE OF 75% OF INNOFORM MEDIA PTE LTD
2010 - Jakarta, 19 Mar 2010

On March 17 2010, PT Media Nusantara Citra, Tbk Group (“MNC”) together with Linktone, Ltd Group (“Linktone”),  has completed the acquisition for 75% of the ordinary shares in the share capital of InnoForm Media Pte Ltd ("InnoForm"), for total consideration of SGD 9.75 million.  MNC was apportioned with  25% shareholding while Linktone was assigned with 50% shareholding, each executed through its wholly owned subsidiary located in UAE. The acquisitions were funded entirely through the internal cash flows of MNC and Linktone.  In addition, MNC and Linktone have the option to purchase the remaining 25% shareholding,  whereby 15% shareholding is exercisable within 18 months and the other 10% is exercisable within 30 months from agreement date.

We are in the process to register new members to the Board of Directors.  We have appointed Steven Tan, the former President and COO of MTV Networks Asia as the  Managing Director of InnoForm.  We believe Mr Tan will add substantial value to Innoform given his broad experience in the music and entertainment  industry

Hary Tanoesoedibjo, Group President and CEO of MNC said "The purpose of this acquisition is to strengthen the content distribution of the MNC group and should serve as a vehicle for MNC's content distribution and aggregation". Hary Tanoesoedibjo further added that "Currently, the majority of InnoForm’s businesses are in home video and movie distribution. We intend to strengthen Innoform's existing businesses and diversify its sources of revenues by expanding to TV program and format, Value Added Services, mobile and digital content".

This acquisition deal will have positive financial implication for MNC and Linktone in FY 2010 as InnoForm is expected to book revenues in the amount of USD 35 Million and Net Profit of USD 2.7 Million.

About PT Media Nusantara Citra Tbk

MNC is the largest and only integrated media company in Indonesia with operations encompassing content production, content distribution, nationwide free-to-air television networks, 24-hour program TV channels, newspaper, tabloid, magazine, radio networks, online media, Value Added Services, advertising agency and talent management. MNC has the largest content library in Indonesia, comprising 88,000 hours of entertainment and news content, which is increasing by more than 10,000 hours yearly. These contents are being accumulated from in-house production, acquired contents, and the operations of our multi-media platforms.

About InnoForm Media Pte Ltd

InnoForm was founded in 2001 and is headquartered in Singapore with regional offices in Malaysia, and Hong Kong, Innoform is a distributor of DVD rights for edutainment and entertainment products. InnoForm's  integrated business activities include the development and licensing of children's edutainment products, sourcing of film/music, publishing and distribution. Alliance Entertainment, which is a wholly owned subsidiary of InnoForm, holds the exclusive video licenses of WarnerHome Video, New Line International, 20th Century Fox Entertainment and other independent film studios in Singapore.