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SINGAPORE – 14 August 2006 – Mainboard-listed MediaRing Ltd (“MediaRing” or the “Group”), a leading pure-play VoIP telephony service provider in Asia, today announced the appointment of Mr Yeo Siew Chai as Chief Financial Officer with effect from today.

Mr Yeo is replacing incumbent Mrs Yvonne Kwek who is leaving to pursue other interests.

Mr Yeo comes from a strong finance background and brings to MediaRing over 20 years of experience in senior management roles. As the Chief Financial Officer of the Group, he will head its Finance and Accounting; Merger & Acquisition; and Legal functions.

Prior to joining MediaRing, Mr Yeo was with Network for Electronic Transfers Singapore Pte Ltd (“NETS”), a leading local company in cashless payments, where he has held the role of Chief Financial Officer since 2003. During his term at NETS, he was responsible for the Corporate Services which included key functions such as Finance; Risk Management; Business Continuity Management; Legal functions and Administration. Mr Yeo also played a leading role in M&A activities and feasibility studies of business ventures and proposals.

Commenting on the new appointment, Mr Khaw Kheng Joo, Chief Executive Officer of MediaRing, said; “We are very pleased to welcome Siew Chai to MediaRing’s senior management team. He brings a wealth of knowledge on the finance and accounting industry, along with leadership experience in new technology development and implementation, which is what growing our VoIP business is all about. He will provide valuable leadership to our organisation in all facets of our operations and help lead MediaRing toward its next exciting phase of growth.”

Mr Yeo started his career in Coopers & Lybrand in 1984 where he worked as an Audit Manager in Singapore and London. In 1990, he moved to take on other finance-related roles in a number of companies that included GK Goh Stockbroking Pte Ltd (Operations Manager from 1990 to 1991); Swiss MNC in industrial equipment, Datacolor Asia Pacific Pte Ltd (Regional Operations Controller from 1991 to 1994); Omni Schematics Pte Ltd (Business Consultant from 1994 to 1999); Schlumberger Limited (Asia Financial Controller from 1999 to 2001) and Giesecke & Devrient Asia Pte Ltd (Financial Controller from 2001 to 2003).

During his tenure with these companies, Mr Yeo accumulated extensive management experience that included areas such as finance, business planning and corporate strategy amongst others.

A Bachelor of Accountancy graduate from the National University of Singapore, Mr Yeo also holds a number of professional qualifications and affiliation that include the Chartered Accountant Institute of Chartered Accountants (England and Wales); ACA Member Institute of Chartered Accountants (England and Wales) and CPA ICPAS (Singapore).

Both Mr Khaw and Mr Koh Boon Hwee, Executive Director, also had praise for Mrs Kwek.

“Without doubt, Yvonne has played a major role in the progress we have made in the past few years. We are grateful to her dedication and commitment and her contributions to the turnaround of the company,” says Mr Khaw.

According to Mr Koh, “We are really sorry to see Yvonne leave. She has been one of the most outstanding CFOs I have worked with and was instrumental in the management team that turned around MediaRing. She has told me, however, that she wants to take a break from work, and we respect that.”

About MediaRing
Headquartered in Singapore, and with subsidiaries or rep offices in Malaysia, Shanghai, Beijing, Hong Kong, Taiwan, Japan and Silicon Valley (Sunnyvale, CA) USA, MediaRing is the leading VoIP telephony service provider in Asia and enjoys a significant share of the global VoIP market. Through its strong technological capabilities and extensive call termination network, MediaRing brings high-quality voice services to carriers, enterprises, service providers, and consumers with its wide range of service offerings. Its extensive partnerships with carriers around the world allow call terminations in more than 240 countries worldwide. As a pioneer in VoIP services with unique proprietary technology, MediaRing derives more than 95 per cent of its revenue from outside Singapore.

Media Contacts:

Singapore: August Consulting
Tel: (65) 6733 8873 Fax: (65) 6733 9913
Silvia HENG – silvia@august.com.sg
Lynn LI – lynn@august.com.sg