Index to acquire 123 Multimedia, leading European mobile content provider

Mobile Internet, The, August, 2004

Index Corporation (Tokyo, Japan), a provider of mobile and media services, has agreed to acquire 66.65 percent of the outstanding common stock of 123 Multimedia S.A. ("123MM"). 123MM is expected to contribute significantly to Index's consolidated group earnings for the next fiscal year.

123MM has achieved remarkable success as a leading European mobile content provider by offering WAP, i-mode and Java-based mobile Internet content services. 123MM had revenues of Euro 118 million (approx. 15.9 billion yen) and operating revenue of Euro 15 million (approx. 2 billion yen) in FY2003. In addition to France, a leading European mobile content market, 123MM has built content distribution networks serving markets in Belgium, Germany, Italy, Morocco, the Netherlands, Portugal, Spain, Switzerland, and Thailand.

Combining the two companies' expertise, Index, through its strategic subsidiaries, Index Europe S.A.S (Paris, France) and Mobliss Inc. (Seattle, Washington), and 123MM aim to expand their presence in the rapidly growing U.S. and European markets.

This acquisition allows Index and 123MM to significantly increase their operating scale and markedly improves their ability to reach new markets, fostering future growth by mutually leveraging distribution networks and content libraries.

Further, through business collaboration with Index's group companies, which currently engage in business both in Japan and abroad, it is anticipated that Index's group revenues will exceed 100 billion yen in FY2006.

By capitalizing on new services and media that utilize the latest technologies, Index aims to become a truly global media company, and strengthen its operating platform and financial performance internationally.

For further information, visit www.indexweb.co.jp