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Tomen Mediacom Acquired 22% Equity Stake in Shonan Cable Network Mediacom's the Sixth CATV operators

2001-02-05

Tomen Corporation announced today that Tomen Mediacom, one of Japan's top CATV Multiple Systems Operators (MSO), has acquired a 22% equity stake in Shonan Cable Network in Kanagawa Prefecture from Japan Network Service. Mediacom, a joint venture of Tomen Corp., Olympus Capital Holdings Asia and Pacific Century CyberWorks Japan Limited, became a top shareholder of Shonan Cable Network, the sixth CATV operator in which Mediacom invested.

Shonan Cable Network has been providing broadcasting and Internet services to residents living in areas including Hiratsuka, Oiso and Ninomiya in Kanagawa Prefecture. It currently has 25,000 subscribers and 112,000 home passes for the 114,000 households, and it is expected to take an important role in broadcasting, communication and information infrastructure for the community. In April 2000, Shonan Cable Network started Internet service which is rapidly increasing the number of subscribers in these areas.

Mediacom plans to offer a wide variety of interactive television services and broadband high-speed Internet access through its CATV operators in the Tokyo metropolitan area including Shonan Cable Network. The services include video-on-demand, digital broadcasting, high-speed Internet telephone and shopping, and provisions of games, music, and financial services to its subscribers.

Mr. Morihiko Tashiro, president of Tomen Corp. said, "this development is part of our ongoing strategy to grow our CATV, IT and telecommunications business."

Beside Shonan Cable Network, Tokyo-based Mediacom holds the stake in 5 CATV stations in the Tokyo metropolitan area, including City Cable Net (Tokorozawa), Sayama Cable Television, City Telecom Kanagawa, Yokohama TV and Musashino-Mitaka Cable. Currently, the 5 CATVs' total home passes is approx. 617,000. The acquisition of the stake in Shonan Cable Network expands the total home passes up to 729,000. Mediacom plans to expand the home passes to 2 million within the next few years, including inviting neighboring independent CATV stations to join the group.

About Tomen Mediacom ( www.mediatti.com )
Tomen built up Mediacom as a Multiple System Operator (MSO) and holding company of the CATV stations. Mediacom invited an investment from Olympus Capital Holdings Asia, a leading Asian direct investment firm, and Pacific Century CyberWorks Japan Limited (PCCWJ) to further enhance the company value. Tomen, Olympus Capital and PCCWJ share the stake of Mediacom at approx. 42:42:16%.

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