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enterpriseAsia (EPA)

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Tuesday 23 October, 2001

enterpriseAsia

CFN (UK) Disposal

enterpriseAsia.com PLC
23 October 2001

23rd October, 2001

                        ENTERPRISEASIA.COM PLC ('EPA')

               DISPOSAL OF INVESTMENT IN CFN (UK) LTD. ('CFN')



EPA announces the conditional disposal (the 'Stage 2 Transactions') of all its
interests in CFN to iAsia Technology Limited ('iAsia'), in exchange for shares
in iAsia.

CFN plans to offer value added services, specializing in Asian securities, to
brokers and financial institutions in the U.K. iAsia provides online trading
services to brokers and financial institutions in the Far East, and is listed
on the Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange.

In September, 2001, EPA entered into conditional agreements to facilitate the
acquisition of 30% of CFN by iAsia ('Stage 1 Transactions'). These
transactions are expected to be completed before the end of October, 2001.
Now, pursuant to the Stage 2 Transactions, EPA will sell its remaining
investment in 44% of CFN to iAsia, for a consideration of HK$9,812,000 to be
satisfied by the issue of new iAsia shares valued at HK$0.70 per share. The
Stage 2 Transactions are subject to approval by the Hong Kong Stock Exchange
and are expected to be completed by the end of November, 2001.

After completion of both Stage 1 Transactions and Stage 2 Transactions, EPA
will hold 21,025,714 iAsia shares, valued at HK$14,718,000 (approximately £
1,280,000), representing approximately 3.7% of iAsia's enlarged share capital.
As a result of these transactions, there will be a gross profit of
approximately £56,000 to EPA, before legal and other costs.

The directors of EPA believe that these transactions will result in EPA
switching its direct investment in CFN UK to liquid, listed shares in iAsia,
while still being able to benefit from the prospects offered by iAsia in the
electronic securities trading sector.

For further information :

Phill Brown, Corporate Relations Director, enterpriseAsia.com plc

Tel: 01274 623 478

Benjamin Ng, Chief Executive Officer, enterpriseAsia.com plc

Tel: 852 2116 5900

Helen Kilsby, Altium Capital Limited

Tel: 020 7484 4040

Shane Dolan, Biddicks

Tel: 020 7448 1000


                                                                         

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