Nextnation incorporates new subsidiary in Vietnam

Kuala Lumpur, 07 December 2006 – Malaysia’s leading mobile application service provider (ASP), Nextnation Communication Berhad (Nextnation), announced on Wednesday the incorporation of Vinamob Venture Company Limited (VVCL), a new subsidiary in the Socialist Republic of Vietnam. The principal activities of VVCL will be research and development in information technology, internet and wireless internet; design, production and provision of value-added products and services for mobile and information technology.

“The incorporation of Vinamob is in line with the Group’s overseas market expansion strategies to diversify and grow our revenue base. Our strong track record, our experience as market leader in Southeast Asia and our unique ability to pool international expertise with local insights have given us a competitive edge in the Asia Pacific region,” commented Mr. PY Tey, Chief Executive Officer of Nextnation.

Vietnam is the world’s second-fastest growing economy with GDP growth averaging 6.8% per year from 1997 to 2004, even against the background of the Asian financial crisis and a global recession, and hit 8% in 2005. With a population of approximately 84 million, Vietnam is one of the most densely populated nations in Southeast Asia and mobile penetration grew from 5.9% in 2004 to 11.42% in 2005, and the use of mobile telephones is growing rapidly, creating an ever-increasing demand for value-added products and services for mobile and information technology.

“With thriving investments in China, the Middle East, Singapore, Indonesia, Thailand and now in Vietnam, we are setting our sights at further opportunities in India within the first quarter of 2007. We see our foreign investments as a crucial and important part of our business and these large, dynamic and growing markets are instrumental for Nextnation’s growth and revenue earnings,” added Mr. Tey.

About Nextnation

Nextnation‚ a mobile application service provider‚ enables businesses and individuals to access‚ connect‚ and transact across today's complex global mobile networks. Its core product MINDCEP™ Platform is a mobile multimedia communication platform‚ facilitating and enabling mobile data transmission worldwide using WAP‚ MMS‚ SMS and Java technologies. MINDCEP™ is connected to some of the largest premium messaging networks in the world in order to offer a broad range of services from content distribution to mobile m-commerce and place the company at the forefront of this rapidly growing messaging market. Additional news and information about the company is available at www.nextnationnet.com.