eWarna Receives Additional Investment

Hong Kong Nan Fung Group Joins Other Investors to Back Color Management Solutions Firm

Malaysia and Hong Kong, January 19, 2004 – eWarna, the leader in online color management solutions for apparel and other color critical industries, received additional investment from existing shareholders. The exercise was led by Nan Fung Investments Limited (NFIL) which resulted in them emerging as the largest as well as longest standing eWarna shareholder.

NFIL is a direct investment holding company of the Nan Fung Group. Nan Fung is a leading conglomerate in Hong Kong with background in textiles, property development, finance and investment holding. “Our strategy is to invest in high-growth technology companies that have a highly experienced management team with a successful track record and customer base. We believe strongly in the huge potential of eWarna’s technology and business model and we are extremely happy with its progress since our initial investment in 2000,” said Alex Mong, a Director of Nan Fung Group. NFIL will appoint a director to eWarna’s board following this announcement.

Other participating shareholders included original investors Mayban Venture, MSC Venture, Trans- Econ Ventures, Commerce Technology Ventures and some individual investors. The additional funding will be used to further strengthen and expand eWarna's efforts in a number of key areas, including product research & development, global sales & marketing and customer services.

"Our greatest accomplishment over the past three years has been a strong focus on execution of our business model, which has enabled eWarna to attract global customers and maintain shareholders support in a challenging environment," said Shiew Man Hon, COO of eWarna. "We are very excited to receive additional funding and concentrate our efforts on scaling the business for even greater success."

In addition to its new funding, eWarna also announced that it had closed a few major deals in Q4, 2003. Major signed users in Q4 include Liz Claiborne, Milliken & Company, Under Armour, American & Effird and Oriental Giant Dyes & Ind. Corporation. The company also expanded its management team with the appointment of Richard Warburton as Vice President of Dye Industry Sales, Raymond Hewins as Vice President of Specifier Sales and Marketing, Jeff Leclercq as Vice President of OEM Sales and Marketing and S. Subramaniam as Chief Technology Officer. Warburton has worked in all five continents with over 25 years experience in the dyes, textiles and coloration industries. Hewins brought with him extensive sales and marketing experience from Pantone, Inc. where he was Senior Business Development Manager. Leclercq previously served as Vice President of R&D with Lectra, USA and Subramaniam as Project Manager with American mortgage bank Ocwen Financial Corporation.