K2 Increases Investment in Greater China

K2 Increases Investment in Greater China

June 08, 2007

    REDMOND, Wash., June 8 /Xinhua-PRNewswire/ --
SourceCode Technology Holdings, Inc. strengthened its
investment in Asia this week by establishing a WFOE (wholly
foreign-owned enterprise) in Shanghai and two new
subsidiaries in Hong Kong and Taipei.

    In addition to its main office in Shanghai, SourceCode,
doing business as K2, now has satellite offices in Beijing,
Shenzhen, Guangzhou, Hong Kong and Taipei to support more
than 60 customers in the Greater China region.

    "This is an area of the world with a dynamic and
growing market," says TAN Choon Ngee, K2 regional
director in Greater China. "It's an exploding economy,
and K2-based solutions offer companies the ability to
swiftly adapt their applications to capture opportunities
ahead of the competitors."

    K2 provides the software platform that enables
developers and business users to work together and assemble
dynamic business applications from reusable items.

    K2 has had a successful presence in Greater China since
2005 and decided to increase its investment there in order
to grow its customer base and to ensure excellent support
of its current clients, according to KOH Weng Him, K2 vice
president for Asia Pacific. K2 hopes to increase its staff
base in these China offices from its current roster of 35
employees to at least 50 in the next two years, he says.

    "K2's global presence and its continued investment
and focus in the Greater China region is very much
welcomed," says Mi Danning, assistant vice president,
Shanda Interactive Entertainment Limited (Nasdaq: SNDA), a
leading interactive entertainment media company in China.
"K2 is now our core BPM platform. To date, we have
implemented 40 processes in various areas of our business.
... We will continue to work closely with K2 to develop
more innovative use of the K2 platform to solve our
business problems and adapt to the changes more
quickly."

    K2 is a business unit of SourceCode Technology
Holdings, Inc., based in Redmond, Washington, and has
offices in Australia, Canada, China, France, Germany,
Singapore, South Africa, the United Kingdom and the United
States.

    Copyright (C) 2007. SourceCode Technology Holdings,
Inc. All rights reserved. Patents pending. SourceCode, K2
and K2.net are registered trademarks or trademarks of
SourceCode Technology Holdings, Inc. in the United States
and/or other countries. The names of actual companies and
products mentioned herein may be the trademarks of their
respective owners.


    For more information, please contact:

     Chris Tomeo
     K2 communications manager
     Tel:   [phone]
     Email: [e-mail]
     Web:   http://www.k2.net/blackpearl