Nextnation rewards loyal shareholders with bonus issue

Kuala Lumpur, 9th May 2007: Nextnation Communication Berhad (Nextnation), is undertaking all formalities to issue the bonus shares which were announced late last year.

The company has placed advertisements advising that the Record of Depositors of Nexnation will be closed at 5.00pm on 25 May 2007 to determine the depositors' entitlement. Only ordinary shares transferred into the depositor's Securities Account before 4pm on 25 May 2007, or shares bought on Bursa Malaysia Securities Berhad (Bursa Securities) on a cum entitlement basis according to the rules of Bursa Securities will qualify for the bonus issue.

Mr. PY Tey, Chief Executive Officer and Managing Director of Nextnation commented "We want to show our appreciation to our loyal shareholders for their continuous support for the Nextnation, by enabling them to have greater participation in the equity of the company. The bonus issue is intended to augment the issued share capital base of the company to appropriately reflect the growth and expansion of the group's business".

The Board of Directors of Nextnation at an Extraordinary General Meeting held on 18 October 2006, had recommended and approved a bonus issue of up to 138,600,000 new ordinary shares of RM0.10 each to be credited as fully paid-up, on the basis of one (1) bonus share for every two (2) existing ordinary shares of RM0.10 each in Nextnation. Bursa Securities has, via its letter dated 15 November 2006, approved in-principle the listing of and quotation for the bonus shares.

The bonus shares, when allotted and issued, will rank pari passu in all respects with the existing shares. Consequent to the issue of bonus shares, the company's issued and paid-up share capital will stand at RM 41,580,000.

"We also expect the bonus issue to improve the liquidity and marketability of Nextnation shares on Bursa, with a higher capital base. We are excited to be able to reward our shareholders so quickly since being listed less than 2 years ago and we hope that our shareholders see the value we are creating for them," added Mr. Tey.

About Nextnation Communication Berhad

Nextnation Communication‚ 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.