Further re: Investment Update

RNS Number:1209I
enterpriseAsia PLC
28 February 2003



28 February, 2003


enterpriseAsia plc ("EPA" or "the Company")


EPA announces that the directors of Cybermax Network Technology Limited
('Cybermax") have resolved to terminate the recruitment and commercial
advertising business operated by a subsidiary of Cybermax in Hong Kong (the
"Part-time.com Business").


EPA's understanding is that the decision to terminate the Part-time.com Business
is a result of a declining trend in recent sales performance and the failure to
secure additional funding.


EPA invested HK$15 million into the equity of Cybermax, and provided a total of
HK$3.539 million of additional loan financing to Cybermax.  HK$3 million of this
loan is secured.


As a result of the termination of the Part-time.com Business, the directors of
EPA propose to write-off all of EPA's investment in and loans to Cybermax.  EPA,
as a secured creditor, will also take appropriate action to claim on the
residual assets of Cybermax, in order to reduce the outstanding loan amount.


For further information, please contact:


Phill Brown, Corporate Relations Director, enterpriseAsia plc

Tel: [phone]


Benjamin Ng, Chief Executive Officer, enterpriseAsia plc

Tel: [phone]



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