Q MULTIMEDIUM LIMITED 2000-05-18 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ Q Multimedium Ltd (QMM) is pleased to advise the ASX that it has concluded negotiations and formally committed to invest in a new company, Jumbuck.com Ltd. This proposal was foreshadowed in an ASX announcement dated 27 March 2000. QMM has entered into an agreement with Mr Adrian Rischmueller for each of Mr R0 ischmueller and QMM to ultimately hold a 50% interest in Jumbuck.com Ltd, with equal board representation. Mr Rischmueller is the founder and principal of a business which has established services relating to WAP (Wireless Application Protocol) including the operation of a WAP focussed website on the internet at www.jumbuck.com. Jumbuck.com operates one of the world's biggest WAP- based chatroom services, receiving over 40,000 messages in April. Mr Rischmueller will transfe0 r to Jumbuck.com Ltd all the assets relating to the WAP business established by him including the website www.jumbuck.com. Mr Rischmueller will become the CEO of Jumbuck.com Ltd. Jumbuck.com Ltd will focus on developing a business which produces and delivers wireless services including potentially wireless based games, entertainment and other content. The directors of QMM consider the wireless services industry to be a developing and dynamic industry and their objective is th0 at Jumbuck.com Ltd will position itself to have a meaningful role in this industry. QMM will contribute funding of $500,000 to Jumbuck.com Ltd over the next 10 months to develop the company's business and QMM's shareholding entitlement in Jumbuck.com Ltd arises from this commitment. QMM will also look for opportunities to assist Jumbuck.com Ltd develop its business. QMM also advises that it is developing its business strategies as new opportunities arise in the dynamic New 0 Media industry and also as opportunities arise for QMM to leverage off its position and skill set in the New Media industry to pursue other opportunities - QMM's participation in Jumbuck.com Ltd is an example of QMM's business strategy evolving as opportunities arise. QMM also advises that it is currently in early discussions with a number of key participants in the New Media industry about further opportunities, including alliances and acquisitions, and will advise the ASX s0 hould these develop. 1