NetEase.com Mourns Death of its Chief Executive Officer
(Beijing -September 20, 2005) -NetEase.com, Inc. (NASDAQ: NTES) today announced that its acting Chief Executive Officer, Ted Sun, passed away on September 18, 2005. Michael Tong, NetEase's Chief Operating Officer, and Denny Lee, Chief Financial Officer, will assume Mr. Sun's responsibilities until a successor is named.
"Ted Sun brought a personal level of commitment, energy and integrity to everything he did," said Denny Lee. "Our deepest sympathy and condolences are expressed to his family. He will be greatly missed by all of us."
"Ted has been involved in NetEase in various positions, including as a consultant, director and executive officer, since 1999 and has been an important contributor to our current success," said Michael Tong. "Denny, myself and our board of directors are committed to continuing his legacy of steady, far-sighted leadership."
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 websites which are operated by our affiliate. As of June 30, 2005, the NetEase websites had more than 546 million average daily page views, making us one of the most popular destinations in China and on the World Wide Web. In particular, NetEase provides online game services to Internet users through the licensing or in-house development of massively multi-player online role-playing games, including ''Westward Journey Online II'', ''Fantasy Westward Journey'' and ''Fly for Fun''.
NetEase also offers online advertising on its websites which enables advertisers to reach our substantial user base. In addition, NetEase has paid listings on its search engine and web directory and classified ads services, as well as 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, matchmaking services, music and photos from the Web which are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies.
Other community services which the NetEase websites offer include instant messaging, online personal ads, 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 websites provide more than 20 channels of content. NetEase aggregates 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.
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