CHENGDU, PRC, May 10, 2002 --China TMN Corporation, a specialist in telecom management network (TMN) and distributed network management software, today announced that it had received an investment from Acer Technology Ventures, DragonTech Ventures and Intel Capital. The investment will help China TMN develop its next generation of software and expand its operations into western China.

China TMN has deployed its solutions for major telecommunications companies within China and internationally. Its products include access network management solutions and systems for connected data collection, GSM network management and broadband network management. It also produces TMN software tools used by telecommunications equipment manufacturers to develop applications.

"Telecommunications is one of the key engines driving China to the next stage of its development," said Li Nong, chief executive officer of China TMN. "We are delighted to have investment from companies with such insight into the market segments in which we operate. We particularly welcome the opportunity to draw on the management and market resources from our investor Acer Technology Venture, DragonTech Ventures, and Intel Capital as we develop new products and expand into new markets."

"With the current shift from infrastructure building to quality of service in the telecom industry, network management will play a key role for best utilization of network resource, improvement of quality and efficiency, and better services to the customers," said York Chen, Managing Director of Acer Technology Ventures. "Telecom network management is a promising area with high technical barrier of entry. With some industry expertise and technology breakthrough, we believe that China TMN has a strong position to be one of the leading players in this area."

"According to the Ministry of Information Industry, China telecommunications industry capital spending reached US$28 billion last year, and it is expected to grow at double digit annual growth rate for the next five years. Meanwhile, with the increasing demand of network management and optimization, China's telecom network management market is expected to grow at a higher rate," said Roman Shaw, president of DragonTech Ventures. "With cutting edge technologies and proved execution capabilities, TMN is well positioned to capture these tremendous market opportunities. DragonTech is going to provide strong support to the company from all aspects."

"In the last several years we have seen vivid examples of the power of advanced telecommunications to revolutionize business and society," said Wee Theng Tan, president, Intel China. "Intel Capital invests in companies, like China TMN, that are making it possible for that revolution to expand its reach, especially to places where world-class telecommunications can make an extraordinary difference."

About China TMN Corporation
China TMN Corporation supplies a wide range of software solutions to telecommunications providers and telecommunications equipment manufacturers. Founded in 2001, the company is based in the Chengdu High Tech Development Zone. Further information about China TMN is available on the Internet at http://www.chinatmn.com.

About Acer Technology Ventures
Acer Technology Ventures is the venture capital business arm of the Acer Group, with six offices in Silicon Valley, Taipei, Singapore, Bangalore, Shanghai and Beijing. Currently, Acer Technology Ventures manages a USD260 million IP Fund One, which is a Cayman registered limited partnership fund with limited partners like J.P. Morgan, Citi Capital, ABN AMRO, Jafco/Nomura, Trigem, DBS, GIC, CDIB and some Acer affiliates. Investment focus of Acer Technology Ventures includes telecommunications, software and fables IC designs. Further information is available on the Internet at http://www.acervc.com (English) or http://www.acervc.com.cn (Chinese).

About DragonTech Ventures
DragonTech Ventures is a Greater China focused venture capital fund mainly covers communication, enterprise software and fabless semiconductor sectors. It has offices in Hong Kong, Beijing and Shanghai. The sponsor and anchor investor of DragonTech Ventures is Shanghai Industrial Group, the sole window company of Shanghai Municipal Government. Further information is available on the Internet at http://www.dragontechventures.com

About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests.

CONTACT: Mr. Liu Jianing, China TMN Corp., 86-28-85233949