Dwango North America and Rolling Stone Announce the Launch of Rolling Stone Ringtones Through AT&T Wireless, Cingular and Nextel

Business Wire, June 24, 2004

SEATTLE & NEW YORK -- Wireless Customers Can Now Access the Latest Chart-Topping Ringtones from their Mobile Device

Dwango(R) North America Corp. (OTCBB:DWGN), a leading developer and distributor of entertainment content and applications for mobile phones, today announced the launch of Rolling Stone Ringtones, a new mobile entertainment service that makes it easy for consumers in the U.S. to download ringtones of today's most popular music via their mobile phones. The Rolling Stone Ringtones service, which also provides access to current music reviews from Rolling Stone magazine, is now available through AT&T Wireless, Cingular and Nextel across a variety of wireless handsets. Dwango expects to launch the service through additional carriers in the coming weeks. Dwango is licensed to offer the Rolling Stone Ringtones service through a partnership with RealNetworks(R), Inc. and Wenner Media, publisher of Rolling Stone.

The Rolling Stone Ringtones service allows mobile customers in the U.S. to download the hottest polyphonic ringtones, anytime and anywhere, and also gives them access to Rolling Stone's insightful and informative music reviews. This service positions Dwango as a major player in the rapidly growing market for ringtones, which remain the most popular form of mobile content globally. Dwango is committed to developing leading entertainment content and services for mobile consumers nationwide.

"Rolling Stone rocks! We're extremely excited about bringing this branded service to a rapidly growing market," said Rick Hennessey, Chief Executive Officer of Dwango North America. "Dwango's commitment to developing cutting edge mobile content and applications for brands and consumers everywhere is underscored by leveraging one of the world's most recognized music brands - Rolling Stone. Now mobile customers throughout the country can buy the ringtones they love from a music brand they trust."

About Dwango North America

Founded in 2000, Dwango North America is a wireless entertainment content publisher with a portfolio of diverse wireless media offerings that includes games, ringtones and other entertainment services. Dwango North America holds exclusive technology and trademark licenses from Dwango Co. Ltd. of Japan. Dwango North America corporate information can be found at www.dwango.com.

About Rolling Stone

Profound, moving and memorable, Rolling Stone is the voice of rock 'n roll. The magazine focuses on all forms of social behavior and American society. The brand is synonymous with the what, when, where and why of youth culture. Rolling Stone provides all the news that fits to 11.7 million readers every two weeks.

This release contains forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Dwango undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated results. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the need to raise capital, the business of Dwango, including the market for its products and services, the effect of government regulation and competition, and other material risks.