Time launches first local language online site

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HONG KONG - Time Inc. is launching its first local languageonline site, furthering its association withCCI Asia-Pacific Ltd., publisher of Fortune China.

The new site will offer the print versions of Fortune and Fortune China, including management ideas and solutions, profiles of successful management strategies at leading global companies and IT trendsin business and coverage of market trends in specific industries.

"Going online allows Fortune China to cater to the rapidly growingInternet community in China, which by 2005 is estimated to be the second largest online population in the world," said John Marcom, president of Time Inc. Asia. "This is a tremendous opportunity for Time Inc. to expand the brand of Fortune and we are excited that this site marks our entry into local-language web publishing."

Fortune China was launched in 1996 under license from Time Inc., the publishing arm of Time Warner, the world's largest entertainment and media group. CCI Asia-Pacific Ltd., is a Hong-Kong based publishing company which pioneered the China market for western technical and business magazines.

Copyright July 1999, Crain Communications Inc.

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