NEWS RELEASE

MEDIARING BRAND CHANGES TO SPICEi2i AS

COMPANY GEARS UP TO ENTER MOBILE INTERNET INDUSTRY

The new brand integrates company as part of a US$2 billion global network

Singapore, 6 January 2010

footprint in the mobile internet industry with the launch of the new brand – Spicei2i. The new

brand integrates MediaRing into the US$2 billion Spice Global network.

“Spicei2i is more than just a new brand, it is the new identity, the new DNA for the company.

The name Spice denotes Synchronised Performance through Innovation in Communication and

Entertainment, while i2i represents from ‘Innovation to Infinity’. This means continuous

innovation to create infinite possibilities for the future. With the launch of the Spicei2i brand, the

company ventures beyond the internet telephony industry to become a complete mobile internet

solutions provider that constantly pushes the boundaries in mobile communication and

entertainment,” said Dr B. K. Modi, Chairman, Spice Group and MediaRing Ltd.

“i2i also stands for the company’s growth aspirations in the Israel-to-Indonesia belt, a youthful

market comprising 41 countries that make up 16 per cent of the world’s gross domestic product

(GDP) and more than 40 per cent of its youth and young adult population. As the most

developed country within the i2i region with a good communication infrastructure and internet

connectivity, Singapore will be the first to experience Spicei2i. Following that, Singapore will

serve as a springboard through which the Spicei2i concept and experience will be introduced to

the rest of the region,” added Dr Modi.

In line with its growth plans, MediaRing has acquired a business process outsourcing (BPO)

specialist and an information technology company. MediaRing is also embarking on the

distribution of the mobile handsets.

“With the capabilities of these new businesses, MediaRing is equipped to become a multiproduct

corporation offering the complete range of hardware, software and service under

Spicei2i. As a result of the acquisitions, our staff strength will also increase to 5,000 - an

exponential increase for a previously 250-strong company,” said Mr Ashok Kumar Goyal,

Executive Director and Chief Executive Officer, MediaRing Ltd.

With the launch of Spicei2i, the company will be rolling out its first range of mobile products and

services under the new brand. This includes S Connect – a VoIP call-connect service for mobile

users, music application downloads as well as Spice mobile handsets which will be fully

compatible with the Spicei2i software and services.

Besides Spice mobile phones, the new services are also available for use with Nokia E and N

series mobile phones. Products compatible with Windows Mobile, Google Android, Blackberry

and iPhone operating systems are in the final stage of development and will be introduced by

the end of the first quarter.

In line with the launch of Spicei2i, plans are in place to change the company’s name to one that

reflects the new business direction. The proposed change is set to be confirmed by end-April

2010, subject to regulatory approval and to shareholders’ approval at the upcoming annual

general meeting.

After having worked on the transformation of MediaRing Ltd since its entry into the Spice fold in

September 2009, Mr Ashok Kumar Goyal, current Chief Executive Officer, would remain as

Executive Director, MediaRing Ltd, and focus on the enhancement of shareholders’ value,

working closely with the Board.

Mr Maneesh Tripathi, who has substantial experience in the IT industry over the last three

decades, will take over the reins from Mr Goyal, effective April 2010. Mr Tripathi will become the

Chief Executive Officer of MediaRing Ltd and be in charge of the day-to-day operations of the

company.

– END –

Issued on behalf of: MediaRing Ltd

By: Foreword Communications Pte Ltd

Contact at Foreword: Ms Cecilia Tan or Ms Alison Zhang of Foreword

Telephone: (+65) 6338-5918

Email: – Mainboard-listed MediaRing Ltd (SGX: M09) is strengthening itscecilia@foreword.com.sg or alison@foreword.com.sg

Contact at MediaRing: Ms Alka Chadha

Telephone: (+65) 3100-0103

Email: alka-chadha@mediaring.com

About MediaRing:

Established in 1993, MediaRing Ltd is a premier IP communications solutions provider

specialising in voice, data and computing services. In August 2009, Spice Innovation

Technologies Pte Ltd, a Singapore-based subsidiary of the Spice Group, acquired a 19.8 per

cent stake in MediaRing, making it the single largest shareholder of the company. MediaRing

has since undergone significant structural and operational changes under the company’s new

leadership team. Its operations are now being driven by Spice Group.

Leveraging its strong technological expertise, leading edge in VoIP and global distribution

network, MediaRing delivers a wide range of Voice, Data and Computing services to carriers,

enterprises, service providers and consumers worldwide. MediaRing's service portfolio includes

Utility Computing, IT Infrastructure, Hosting and Outsourcing, Broadband Access, Managed

Network and various other Network based services.

MediaRing Ltd is listed on the mainboard of Singapore Stock exchange since 1999, trading

under the ticker symbol SGX: M09.

About Spice Group

Spice Group is a US$2 billion multi-diversified conglomerate led by global chairman Dr B. K.

Modi (Dr BKM) headquartered in Singapore with offices in Delhi, Mumbai, Shenzhen and Los

Angeles. Spice Group has business interests in telecommunications, media and entertainment,

finance and new and innovative technologies.

Spice Group has four business verticals:

1. Spice Televentures

Added Services, Application Development, Mobile and Technology Consumer Products

Retail and Domestic Onshore BPO Services.– operates businesses in the domain of Mobile devices, Mobile Value

2.

Problem’), Malls and Multiplexes, Restaurants, Entertainment Content.

3. Spice Investments & Finance Advisors – Fund Management, Distressed Assets Funds,

Fixed Income Products, OTCEI Retail products.