Investor Relations

Negotiations with Ltd concluded

Back May 18, 2000
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, 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 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 operates one of the world's biggest WAP-
based chatroom services, receiving over 40,000 messages in April.

Mr Rischmueller will transfe0
r to Ltd all the assets
relating to the WAP business established by him including the website Mr Rischmueller will become the CEO of
Ltd. 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 Ltd will
position itself to have a meaningful role in this industry.

QMM will contribute funding of $500,000 to Ltd over the
next 10 months to develop the company's business and QMM's
shareholding entitlement in Ltd arises from this
commitment. QMM will also look for opportunities to assist 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 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