PRESS RELEASE Yangon,
Myanmar-May 2, 2001.
Myanmar Inforithm Ltd., a pioneer and leading
producer of interactive software and Internet web sites, has
reached a definitive agreement to merge with Maze Media Co.,
Ltd., a leading provider of e-Commerce solutions and services.
The merger will result in combining the resources, customer base
and product development expertise of both companies. This combination
will allow the new company, Inforithm-Maze, to meet the growing
needs of digital business, education, and media industries more
effectively.
U Chit Tun Pe, CEO of Inforithm and Chairman of Inforithm-Maze,
said, "This merger has been synergistic to our vision. Working
within the Inforithm-Maze structure, we will be better positioned
to maximize opportunities and build upon our years of experience
in fulfilling consumer digital needs. The team we already have
assembled, plus other key management personnel to be announced
in the near future, we are well positioned to make Inforithm-Maze
a leading force in the Internet and e-commerce portal community
as well as key player in the software industry of Myanmar." U
Chit Tun Pe further stated, "We are pleased to report that
we remain on-track with Inforithm-Maze business model and we
intend to continue to aggressively expand. Inforithm-Maze will
debut offering a revolutionary e-commerce experience bringing
complete turn-key Internet/Intranet solutions to businesses,
along with products and information to businesses and individuals."
U Thaung Su Nyein, CEO of Maze Media and Inforithm-Maze, added, "These
are exciting times for not only Inforithm-Maze but Myanmar's
IT industry as a whole. Coinciding with the developments in
our industry regarding software development and communications
infrastructure, this merger has the potential to help promote
Myanmar's IT industry to the world. Maze Media has focused
on improving its e-commerce and web-based technology from the
start. Adding Inforithm's multimedia prowess to the mix creates
an exciting prospect to this new merger. We believe that Inforithm-Maze
is uniquely positioned to service both local and foreign businesses
on a global scale." |