Buongiorno Enters the Chinese Market Acquiring eDongAsia's Majority Stake

Buongiorno Enters the Chinese Market Acquiring eDongAsia's Majority Stake

January 15, 2007

Buongiorno Hong Kong, the Buongiorno-Mitsui Joint Venture,
Signed the Agreement to Acquire eDongAsia - a Company
Operating in the Chinese Mobile Phone Premium Content
Production

    MILAN, Italy, Jan. 15 /Xinhua-PRNewswire/ --
Buongiorno, a leading multinational operating in the market
of digital entertainment, announces its entrance in the
Chinese market by acquiring eDongAsia through Buongiorno
Hong Kong Ltd., the Joint Venture founded by Mitsui &
Co., Ltd. (51%) and Buongiorno SpA (49%).

    Under the agreement's terms, Buongiorno Hong Kong will
acquire up to 80% of eDongAsia's share capital by cash for
a total amount of about USD 2.7 million.  The remaining
percentage (about 20%) will stay under the current
shareholders' control. 

    According to Chinese Industry Ministry's latest
figures, the local mobile market is the world's largest
with 449 million customers (34% of the active population)
and the most dynamic with a year-over-year growth of about
65 million new users.

    For Buongiorno Hong Kong, the entrance in the Chinese
mobile market is another important step of its expansion
plan in the Asia-Pacific.  This new expansion follows the
entrance and business development  in Russia and India and
strategic deals for provision of technological services,
content and marketing for mobile digital entertainment in
several fast growing Asian markets like Vietnam, the
Philippines, Thailand, and Malaysia. 

    Buongiorno's plans in China confirm the Company's
balanced approach: Buongiorno will offer both B2B services
for telecom companies and large media groups and B2C
services with the Blinko brand.

    "The Chinese mobile content market is burgeoning
and it represents a tremendous opportunity for global
companies operating in the digital entertainment market, as
Buongiorno.  We therefore decided to cautiously enter the
Chinese market by leveraging on a small-sized fast-growing
entity in which our joint venture Buongiorno Hong Kong will
invest in terms of know-how, people and capitals.  This will
allow our Group to seize the local challenging business
opportunities without facing risks in the short term"
stated Andrea Casalini, Chief Executive Officer of
Buongiorno SpA. 

    eDongAsia operates through eDongCity (translation = The
mobile city), a Shangai-based firm perfectly fitted to be
the launching platform of Buongiorno services in the
Chinese market. eDongCity's core business has focussed on
the provision of SMS services and mobile services through
its local strategic partner company.  eDongCity's
management has an international background and deep and
solid local market knowledge. 

    For more information, contact:

     Eleonora Villanova
     PR Executive
     Tel:   [phone]
     Email: [e-mail]


SOURCE  Buongiorno Vitaminic SPA