Buongiorno Widens Its Ties With Leading Indian Digital Media Group, Times Internet to Further Deliver World Class Mobile Media Solutions in India

Buongiorno Widens Its Ties With Leading Indian Digital Media Group, Times Internet to Further Deliver World Class Mobile Media Solutions in India

November 17, 2006

-- Industry leaders renew their agreement to provide innovative mobile media content, delivery and support services to the multi million and growing Indian mobile users

    HONG KONG, Nov. 17 /Xinhua-PRNewswire/ -- Buongiorno
(MTAX STAR, Italian Stock Exchange: BNG), a leading
multinational operating in the digital entertainment
market, today announced that, its subsidiary Buongiorno
Hong Kong Ltd has signed a new, larger and more
comprehensive agreement with Times Internet Limited (TIL)
-- the Internet venture of India's largest media house, the
Times Group.

    The new agreement supersedes the previous one signed in
September 2005, by means of which Buongiorno has been
providing the Indian Partner with its expertise in
conceiving and delivering interactive mobile services and
in CRM implementation and management, along with global
support for implementation of its proprietary platform B!3A
in TIL's headquarters in New Delhi.

    Based on the new Buongiorno-TIL agreement, Buongiorno
will provide technological, operational, marketing and CRM
know-how and expertise, as well as products, applications
and contents aimed to reinforce TIL offering to consumers,
with the final aim to enhance and strengthen Indiatimes
8888, the first and largest value-added premium website
service in India.

    The joint or combined action of the two market leaders
will also maximize the value and the revenue streams in the
B2B area by means of a strategy which is meant to provide
full support to mobile telecommunications operators in
different key areas -- both providing support in licensed
model and ASP managed services. 

    A senior team composed of Buongiorno-TIL local and
international professionals has already been designated and
deployed with the aim to bring the project to complete
successfulness and fulfilment.

    Activities have recently started and a daily management
of about 30 million messages(1) is already taking place
through B!3A, the Buongiorno Group's proprietary technology
platform conceived to design, build, manage and provide high
quality services to leading businesses and  mobile consumers
globally. 

    India is to become the world's 3rd largest mobile
population by 2007: According to Wireless World Forum's
"Indian Mobile Market 2006" statistical handbook,
mobile ownership will be well beyond the 100 million mark in
2007, this being a direct consequence of the `largest middle
class in the world' taking up mobile ownership.

    "We have seen the powerful appetite consumers have
for mobile media in Europe and the US and we decided to
partner with a company which would bring along that kind of
market expertise. The alliance with Buongiorno will allow us
to further strengthen ourselves by leveraging Buongiorno's
B2B and B2C successful practices." said Mr Dinesh
Wadhawan, Managing Director and Chief Executive Officer of
TIL. "We believe that the leading digital
entertainment company, Buongiorno is the perfect partner to
give our customers a content-rich, carrier-grade
battle-tested solution." 

    TIL's Telecom Director Mr. Sanjive Sethi also welcomed
the attainment of the alliance by declaring:
"Buongiorno's international expertise, best practises
and market knowledge will furthermore increase TIL's
presence on the Indian telco B2B market."

    Simone Ranucci, Chief Executive Officer of Buongiorno
Hong Kong declares: "We are delighted to announce our
broader scope of cooperation with TIL. TIL and its parent
group are the ideal partner for B! in addressing such an
important market as India which will be soon  one of the
largest markets worldwide in our sector. Following the
global alliance on mobile data with Mitsui and the set up
of the joint venture in Hong Kong, we confirm our
commitment to develop globally, with a specific focus into
emerging and fast growing Asian market. The new Strategic
Alliance signed with TIL is a prosecution of a successful
roadmap defined by our Companies with the aim to reinforce
our common assets from products, to capability execution up
to the Value Proposition of mobile Operators, in the fast
growing and highly competitive Indian mobile content
market".

    Services to TIL will be supplied through Buongiorno
Hong Kong Ltd. -- the joint venture between Buongiorno and
Mitsui & Co., Ltd., one of Japan's largest general
trading companies. The Shareholders resolved to invest in
the Joint Venture US$ 7.6 million pro-quota (Buongiorno
owns 49%, and Mitsui 51%), Inside the Hong Kong business
plan, which leverages on both Shareholders' expertise -- on
Mitsui's regional alliance network and on Buongiorno's
global mobile technical and operational skills --, the new
deal signed with TIL offers the Joint Venture the
opportunity to expand and strengthen its business
activities from Russia, Indonesia and Thailand to India.

    For more information, please contact:

     Mr Mohit Hira
     Director -- Content & Marketing
     Times Internet Limited
     Tel:   [phone]
     Email: [e-mail]

     Monica Montefusco
     Global PR & Events Manager, Buongiorno
     Tel:   [phone]
     Email: [e-mail]

SOURCE  Buongiorno SPA and Times Internet Ltd