Investor Relations

To Acquire The Remaining 50% of Jumbuck Corporation Limited

Back Feb 28, 2001
Q MULTIMEDIUM LIMITED                         2001-02-28  ASX-SIGNAL-G

HOMEX - Perth                                                         

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Q Multimedium Limited (QMM) has entered into an agreement with Mr
Adrian Rischmueller, founder and Chief Executive Officer of Jumbuck
Corporation Ltd (Jumbuck), to acquire the remaining 50% of Jumbuck
for a consideration of 12.0M shares in QMM plus $60,000 and 5.0M
options exercisable at 0.30 cents per share at any time within 3
years from the date of settlement. Mr Rischmueller will be invited to
join the Board of QMM.

This proposed acquisition of Jumbuck is subject to the approval QMM
shareholders, if this is required.

Jumbuck is already generating revenue from three major international
Telco's and negotiations are currently in process to enter into a
long-term contract with one of the largest international mobile
Telco's.

QMM's strategic, move to own 100% of Jumbuck is part of their
commitment to gaining a competitive edge in the new global markets
for GPRS and 3G technology.

Jumbuck's strong focus on back-end wireless infrastructure and
enterprise software development will allow QMM to offer such services
to clients as Java development, hosting and wireless content
creation.

Jumbuck will continue developing wireless applications for the mobile
market and will use QMM's multimedia project skills to gain a
foothold in the emerging 3G wireless technology market.

Currently over 15 million mobile phone users worldwide have dedicated
access to Jumbuck WAP chat rooms where they are generating in excess
of 5.5 million minutes per month.

The acquisition of the balance of Jumbuck is expected to be completed
by 31 March 2001.

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