Investor Relations

Heads of Agreement with Jumbuck Communications Pty Ltd

Back Mar 27, 2000
Q MULTIMEDIUM LIMITED                         2000-03-27  ASX-SIGNAL-G

HOMEX - Perth                                                         

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Q Multimedium Limited (QMM) wishes to advise the ASX that it has
entered into a Heads of Agreement with Jumbuck Communications Pty Ltd
for the purposes of establishing a new company which will conduct and
develop the business currently being conducted by Jumbuck
Communications Pty Ltd, who currently own a pop0
ular WAP website.

The intention is that QMM will have a 50% interest in the new company
to be named Jumbuck.com Ltd ("Jumbuck").

The parties are aiming to reach a formal agreement on the structure
of the relationship and to implement the arrangement in the next 30
days. It is expected that part of QMM's commitment will involve
funding of approximately $500,000. The principal behind Jumbuck
Communications Pty Ltd is Adrian Rischmueller, and it is proposed
that Mr Rischmuelle0
r will be appointed as CE0 of the new entity as
part of the arrangement.

It is proposed that the new entity will continue to conduct the
Jumbuck WAP portal on the Internet and other related WAP services.
These services are expected to include access to particular books,
sports information and other written commentary direct to mobile
phones.

QMM's proposed involvement in Jumbuck is to deliver QMM an
opportunity to participate in the development of WAP services. It is
expect0
ed there will also be direct benefits to QMM's existing
strategy including moving QMM's Q Sport products onto a number of key
online technology platforms including mobile phones.

QMM has engaged Mr Rischmueller as an employee in the interim period
before the establishment of the new joint venture arrangement.


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