Secondary Offering Of 10,000,000 New Shares Of Easycall International Ltd At S$0.52 Each

DBS Bank is pleased to announce that EasyCall International Ltd's secondary offering of 10,000,000 new shares at S$0.52 per share has been fully taken up on its first day of launch.

DBS Bank placed 8,000,000 shares out of the 10,000,000 Invitation shares to institutional investors and offered the remaining 2,000,000 shares to retail investors. All the 2,000,000 shares were fully subscribed by 10:30 a.m., one-and-a-half hours after the shares were offered through DBS Banks' ATMs (including POSBank ATMs) on a first-come-first-serve basis.

There were more than 400 ATM applicants, with about 90 applicants applying for 1,000 and 2,000 shares each and some 120 applicants applying for 10,000 shares (the maximum size per application).

EasyCall was established in 1985 primarily as a wireless messaging company. It is in the process of transforming into an internet infrastructure network services company. EasyCall has recently launched its Internet network business in the Philippines and will launch its Malaysia operations by the end of this month.

The primary listing of EasyCall remains on the Australian Stock Exchange (ASX). Trading in EasyCall's shares on ASX was suspended on Monday, 31st July 2000. Trading on both the Singapore Exchange (SGX) and ASX will commence on Tuesday, 8th August 2000.

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