Adamind Ltd 08 February 2006 Adamind Ltd Adamind enters China with strategic acquisition Purchase of SenseStream will accelerate penetration into the world's biggest mobile market and provide access to blue-chip Chinese customers Palo Alto, California - 8 February 2006: Adamind Ltd ("Adamind" or the "Company"), the leading global supplier of media adaptation software for mobile messaging (MMS), content and convergence services market, announces it has signed an agreement to acquire all of the issued and outstanding share capital of Hong Kong based, SenseStream Ltd ("SenseStream") for a consideration of up to US$2,000,000 in cash and shares. Under the terms of the agreement, Adamind will pay an initial amount at completion of US$1,000,000 payable in cash with the balance payable in shares by April 2007, dependent on certain targets being met during 2006. The deal is expected to close by end February 2006. Description of SenseStream SenseStream is a leading 2.5G / 3G MMS content adaptation and media technology solution product vendor in Asia Pacific. It develops, markets and distributes software that helps Service Provider, Portal and Enterprise customers to provide and deploy mobile value added service for business and wireless solutions. Since 2002, SenseStream provides critical Multimedia Management Technology that many mobile multimedia services and applications rely on to successfully and seamlessly deliver multimedia messages. SenseStream's advanced and powerful multimedia content adaptation server, DynaFit(TM) Server, is used by many of Asia's leading wireless operators for deployment of successful mobile multimedia services. Its proprietary PONFA(TM) (Publish Once N Fit All) Server and publishing tools allow content providers to create and publish wireless multimedia contents. SenseStream also participates in the commercialization of the new AVS-M (video on mobile) China video standard. Kiok Tan, CEO of SenseStream, has a long history of building up a businesses in the communications industry. Prior to setting up SenseStream, he worked for Motorola for six years, his last assignment was as Business Director at Motorola China, Personal Communication Sector, based in Beijing. He also worked with HP as Marketing Manager, Asia Pacific for many years prior to joining Motorola. The CTO and co-founder is Eno Tsin who was formerly a research scientist with computer laboratories of London and Cambridge University. He was a Technical Manager with SkyTel and was co-founder of Media60X that developed the first commercial location based system using enhanced Cell-ID technology in Hong Kong in 1996. Rationale of the deal SenseStream's acquisition is the first by Adamind since its flotation in February 2005 and marks a major strategic move by the Company to expand into mainland China, Hong Kong and Taiwan as large amount of monies are being invested in telecommunications infrastructure to cope with demand in the run up to the Olympics in 2008 and beyond. The acquisition is highly complementary with Adamind's footprint in the region with recent wins in Australia, Philippines and Singapore. It will enable the Company to accelerate its penetration into one of the world's fastest growing and largest mobile markets, namely, China, Taiwan and Hong Kong. The number of mobile phone subscribers in China alone is reported to be more than 393 million (33% of the population) and is set to rise to 742 million subscribers by 2010. For the Asia Pacific region as a whole, Frost & Sullivan, the independent market consulting business, expects mobile data revenue to grow at a CAGR of 19.2 percent from 2004 to reach over $58 billion in 2009. SenseStream MMS products are already powering the infrastructure and live commercial services of seven major operators in Hong Kong, Macau, Singapore and Taiwan. China's leading telecommunication equipment manufacturer Huawei, based in Shenzhen is a key customer of SenseStream. In addition, SenseStream also has recently become a qualified supplier of ZTE, another leading networking equipment manufacturer based in Shenzhen. Shailendra Jain, CEO of Adamind, said: "The acquisition of SenseStream is a strategic milestone for Adamind and takes us into the world's most dynamic mobile data market. We will gain access to major customer accounts in China, creating a truly global footprint for Adamind as well as shareholder value in the long term." The Company will announce its results for the year to 31 December 2005 on 20 March 2006. Enquiries Adamind Shailendra Jain, CEO +44 20 7929 8989 on the day Corfin Communications +44 20 7929 8989 Neil Thapar, Harry Chathli NOTE TO EDITORS About Adamind Adamind is a pure-play provider of rich media content adaptation and enhancement software solutions for the mobile space. The Company's flagship platform, Adamind Spire(TM) provides industry-leading automated solutions for message and content transcoding and benefits virtually every player in the mobile delivery chain. Its superior multimedia capabilities enable service operators to deploy successful media rich content services, generating new revenue streams, driving key new Value-Added-Services (VAS) enablers, such as Advertising, Branding, DRM and spam filtering and anti-abuse support. With over 100 deployments in mobile operator networks worldwide, Adamind is strategically poised to enable the promise of the Mobile Lifestyle revolution. Adamind has strategic relationships with major infrastructure vendors and system integrators including Ericsson, HP, IBM, Accenture, LogicaCMG, Motorola, Openwave, Critical Path and CBOSS. www.adamind.com This information is provided by RNS The company news service from the London Stock Exchange