Green Dot Capital Signs MOU for JV With NeoPets Inc, USA

Apr 23, 2001, 01:00 ET from Green Dot Capital Pte Ltd

    SINGAPORE, April 23 /PRNewswire Interactive News Release/ -- Green Dot
 Capital Pte Ltd, a wholly-owned IT and e-business subsidiary of Singapore
 Technologies Pte Ltd, today announced that it has signed a Memorandum of
 Understanding with NeoPets, Inc. USA (http://www.neopets.com), the largest
 global youth community on the Internet, to create NeoPets Asia. NeoPets Asia
 is a 50-50 joint venture set up to further enhance and expand NeoPets' reach
 and entertainment value to the Generation Y ("Gen Y") (aged 20 and younger)
 Internet audience in Asia (excluding Japan and India). NeoPets Asia will work
 in tandem with NeoPets, Inc. to continue to build and nurture a global Gen Y
 community in cyberspace.
     NeoPets Asia will develop an Asian World in English and various Asian
 languages in the mythical cyberworld of Neopia.  By employing technology to
 develop real-time translation of chat or mail from English to Asian languages,
 and vice versa, NeoPets Asia will enable the English-speaking and non
 English-speaking users to communicate with each other, thereby promoting
 international goodwill and understanding. The added Asian content and new
 features will also make Neopia more interesting to the current worldwide
 membership, as well as enable NeoPets to expand its reach to non-English
 speakers in Korea, China and countries in South East Asia.
     Chairman/Chief Executive Officer of NeoPets, Inc., Doug C. Dohring said,
 "I am very pleased and excited to have Green Dot Capital as our Asian partner.
 I have no doubt that the Asian World in Neopia will be a very exciting place
 for our members both inside and outside of Asia. Although the membership of
 NeoPets has grown to over 9 million in less than a year, we believe that the
 membership of NeoPets Asia has the potential to exceed that of the rest of the
 world.
     Commenting on the proposed joint venture, Tay Siew Choon, Managing
 Director and Chief Operating Officer of Singapore Technologies and concurrent
 President & CEO of Green Dot Capital said, "NeoPets Asia will enjoy the
 benefits of easy access to the ST Group's technological expertise, especially
 in IT and e-business. It will also benefit from our extensive network of
 contacts around the world to further develop and enhance Neopia as an
 entertainment and educational 'playground' for Gen Y across the world."
 
     About NeoPets
     NeoPets, Inc. is a privately held corporation based in Glendale,
 California, USA, that owns and operates the highly popular Web site,
 NeoPets.com. This youth-oriented network is an interactive community of
 virtual pet owners whose NeoPets inhabit a mythical land called Neopia. While
 the site has some of the characteristics of other game, novelty, amusement,
 and teen sites, it far surpasses each in substance. Creating and caring for
 their virtual NeoPets is merely the first step members take into the
 constantly changing worlds of Neopia. The NeoPets experience is multi-faceted
 and provides hours of entertainment through a myriad of activities,
 entertainment venues, and ever-changing content.
     NeoPets, Inc. started operation in 2000 and has already grown its user
 base more than 9 million, with new members signing up at a rate of more than
 30,000 daily. It is consistently ranked among the top 10 Web sites (including
 Yahoo, eBbay, MSN, AOL and Amazon.com) in page views and in average time spent
 per user by Media Metrix, Nielsen/Net Ratings and PC Data. There are currently
 more than 500,000 Asian members of which 300,000 members are from Singapore.
 
     About Green Dot Capital
     Green Dot Capital Pte Ltd is a wholly-owned subsidiary of Singapore
 Technologies Pte Ltd. It began operations in Year 2000 to invest in and
 develop e-business technologies that drive the new economy. Green Dot Capital
 is the holding company for Singapore Computer Systems Ltd and SNP Corporation
 Ltd, both of which are listed on the Singapore Stock Exchange. Earlier this
 month, Green Dot Capital's subsidiary, Green Dot Internet Services Pte Ltd,
 launched a new Internet portal, "miw.com.sg" targeted at all National
 Servicemen in Singapore and members of the public interested in National
 Service and defense matters. Green Dot Capital has also invested in several
 private equities and venture capital funds.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X77972725
 
 

SOURCE Green Dot Capital Pte Ltd
    SINGAPORE, April 23 /PRNewswire Interactive News Release/ -- Green Dot
 Capital Pte Ltd, a wholly-owned IT and e-business subsidiary of Singapore
 Technologies Pte Ltd, today announced that it has signed a Memorandum of
 Understanding with NeoPets, Inc. USA (http://www.neopets.com), the largest
 global youth community on the Internet, to create NeoPets Asia. NeoPets Asia
 is a 50-50 joint venture set up to further enhance and expand NeoPets' reach
 and entertainment value to the Generation Y ("Gen Y") (aged 20 and younger)
 Internet audience in Asia (excluding Japan and India). NeoPets Asia will work
 in tandem with NeoPets, Inc. to continue to build and nurture a global Gen Y
 community in cyberspace.
     NeoPets Asia will develop an Asian World in English and various Asian
 languages in the mythical cyberworld of Neopia.  By employing technology to
 develop real-time translation of chat or mail from English to Asian languages,
 and vice versa, NeoPets Asia will enable the English-speaking and non
 English-speaking users to communicate with each other, thereby promoting
 international goodwill and understanding. The added Asian content and new
 features will also make Neopia more interesting to the current worldwide
 membership, as well as enable NeoPets to expand its reach to non-English
 speakers in Korea, China and countries in South East Asia.
     Chairman/Chief Executive Officer of NeoPets, Inc., Doug C. Dohring said,
 "I am very pleased and excited to have Green Dot Capital as our Asian partner.
 I have no doubt that the Asian World in Neopia will be a very exciting place
 for our members both inside and outside of Asia. Although the membership of
 NeoPets has grown to over 9 million in less than a year, we believe that the
 membership of NeoPets Asia has the potential to exceed that of the rest of the
 world.
     Commenting on the proposed joint venture, Tay Siew Choon, Managing
 Director and Chief Operating Officer of Singapore Technologies and concurrent
 President & CEO of Green Dot Capital said, "NeoPets Asia will enjoy the
 benefits of easy access to the ST Group's technological expertise, especially
 in IT and e-business. It will also benefit from our extensive network of
 contacts around the world to further develop and enhance Neopia as an
 entertainment and educational 'playground' for Gen Y across the world."
 
     About NeoPets
     NeoPets, Inc. is a privately held corporation based in Glendale,
 California, USA, that owns and operates the highly popular Web site,
 NeoPets.com. This youth-oriented network is an interactive community of
 virtual pet owners whose NeoPets inhabit a mythical land called Neopia. While
 the site has some of the characteristics of other game, novelty, amusement,
 and teen sites, it far surpasses each in substance. Creating and caring for
 their virtual NeoPets is merely the first step members take into the
 constantly changing worlds of Neopia. The NeoPets experience is multi-faceted
 and provides hours of entertainment through a myriad of activities,
 entertainment venues, and ever-changing content.
     NeoPets, Inc. started operation in 2000 and has already grown its user
 base more than 9 million, with new members signing up at a rate of more than
 30,000 daily. It is consistently ranked among the top 10 Web sites (including
 Yahoo, eBbay, MSN, AOL and Amazon.com) in page views and in average time spent
 per user by Media Metrix, Nielsen/Net Ratings and PC Data. There are currently
 more than 500,000 Asian members of which 300,000 members are from Singapore.
 
     About Green Dot Capital
     Green Dot Capital Pte Ltd is a wholly-owned subsidiary of Singapore
 Technologies Pte Ltd. It began operations in Year 2000 to invest in and
 develop e-business technologies that drive the new economy. Green Dot Capital
 is the holding company for Singapore Computer Systems Ltd and SNP Corporation
 Ltd, both of which are listed on the Singapore Stock Exchange. Earlier this
 month, Green Dot Capital's subsidiary, Green Dot Internet Services Pte Ltd,
 launched a new Internet portal, "miw.com.sg" targeted at all National
 Servicemen in Singapore and members of the public interested in National
 Service and defense matters. Green Dot Capital has also invested in several
 private equities and venture capital funds.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X77972725
 
 SOURCE  Green Dot Capital Pte Ltd