News Release

<< Back Announces Senior Management Changes

June 11, 2001 Beijing
2001/06/12 09:53:35 Inc. (Nasdaq: NTES), a leading Internet technology provider in China, today announced that King Lai and Susan Chen have resigned from their respective positions as Chief Executive Officer and Chief Operating Officer effective today to pursue other opportunities. William Ding, the company's founder and Chairman of the Board of Directors, will assume the duties of acting Chief Executive Officer and acting Chief Operating Officer. The company has made no decision yet as to who will assume these positions in a permanent capacity.

Mr. Lai has also resigned from's Board of Directors.

Since founding, Mr. Ding has held a variety of management positions with the company, including Chief Executive Officer from the company's formation until April 2000 as well as Co-Chief Technology Officer and Chief Architect.

Commenting on these management changes, Mr. Ding said, "The Board of Directors wishes King and Susan success in their future business pursuits."

Addressing his expanded responsibilities in the company, Mr. Ding stated, "This transition certainly presents challenges, but I look forward to working with the team to capitalize on the exciting opportunities that lie ahead in the Chinese Internet market." He also noted that, "I am confident that these changes will have a minimal impact on's business continuity and will endeavor to make the transition as seamless as possible for our employees, shareholders, Web site users and strategic partners."

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the ability of's management to effectively lead the company and make it profitable; the risk that may not be able to attract new people to its management team or retain its existing management and employees; possible disruptions to's business and operations caused by the changes in senior management; competition in's existing and potential markets; the continued growth in the number of registered users of the Web sites and the average number of page views;'s ability to develop and implement operational and financial systems to manage rapidly expanding operations; the risk that security, reliability and confidentiality concerns may impede broad use of the Internet; and other risks outlined in's filings with the Securities and Exchange Commission, including's registration statement on Form F-1, as amended. does not undertake any obligation to update this forward-looking information, except as required under applicable law.


Grace Zhao, Inc.