AGM Statement

23 Jun 2005 08:55

Embargoed for release 09.55am 23 June 2005 121Media, Inc. ("121Media" or the "Company") AGM Statement At the Annual General Meeting of the Company taking place this morning, theChairman, David Svendsen will make the following statement:"On 4 May, 2005, the Company announced that it had successfully implemented asmall scale operational test of an application of its Javascript PageSensetechnology.The operation of this application of PageSense is now being scaled up followingits recent launch and your directors believe that 121Media is now at a pointwhere its PageSense technology should grow to make a meaningful contribution torevenue and profitability in the remainder of this financial year.Development of the technology and operational infrastructure has been theobject of significant investment and management focus during the first half ofthe year. This has resulted in a loss for the first half of the financial yearand will have an impact on profitability for the year as a whole, although wecontinue to believe that we will achieve market expectations for revenue, asincome continues to grow in the second half of the year.Pagesense allows the Company to exploit a substantial opportunity to convertuntargeted mainstream advertising into targeted advertising, therebycapitalising on the premium value which targeted advertising carries in theopen market.The Company continues to pursue the deployment of its PageSense technology withInternet Service Providers and although it has taken longer than expected toreach agreement and implementation with Internet Service Providers, yourdirectors remain optimistic for this application, as well as for its coredesktop business. "END121 MEDIA INC