09:56     MEDIANATION<08160> - Announcement (1)                               

    The Stock Exchange of Hong Kong Limited takes no responsibility           
    for the contents of this announcement, makes no representation            
    as to its accuracy or completeness and expressly disclaims any            
    liability whatsoever for any loss howsoever arising from or in            
    reliance upon the whole or any part of the contents of this               
    announcement.                                                             
                                                                              
    JCDecaux Pearl & Dean Ltd                                                 
    (incorporated in Hong Kong with limited liability)                        
                                                                              
    MediaNation Inc.                                                          
    (incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 8160)                                                        
                                                                              
    Financial adviser to the Offeror                                          
    CLSA Equity Capital Markets Limited                                       
                                                                              
    Financial adviser to the Company                                          
    Anglo Chinese Corporate Finance, Limited                                  
                                                                              
    JOINT ANNOUNCEMENT RELATING TO MANDATORY UNCONDITIONAL CASH               
    OFFERS BY CLSA LIMITED                                                    
    FOR AND ON BEHALF OF JCDECAUX PEARL & DEAN LTD                            
    TO ACQUIRE ALL THE ISSUED SHARES IN THE CAPITAL OF                        
    MEDIANATION INC. OTHER THAN THOSE ALREADY OWNED                           
    OR AGREED TO BE ACQUIRED BY THE OFFEROR                                   
    AND THE CANCELLATION OF ALL OUTSTANDING SHARE OPTIONS                     
    OF MEDIANATION INC.                                                       
                                                                              
    On 24 March 2005, the Offeror and the Company jointly announced           
    a possible mandatory cash offer to be made by CLSA Limited on             
    behalf of the Offeror, an indirect wholly owned subsidiary of             
    JCDecaux SA, to acquire all the issued share capital of the               
    Company not already owned or agreed to be owned by the Offeror.           
                                                                              
    The Composite Document containing, among other things, details            
    of the Offers and the recommendations of the Independent Board            
    Committee, together with the Forms of Acceptance were despatched          
    to the Shareholders and Optionholders on 29 April 2005 in                 
    accordance with the Code.                                                 
                                                                              
    The Offers are now open for acceptance until 4:00 p.m. on Friday,         
    20 May 2005 unless the Offeror revises or extends the Offers in           
    accordance with the Code.                                                 
                                                                              
    Shareholders intending to accept the Share Offer should submit            
    a completed WHITE Form of Acceptance, together with the relevant          
    Share certificate(s) and/or transfer receipt(s) and/or other              
    document(s) of title (and/or satisfactory indemnity or                    
    indemnities required in respect thereof) for not less than the            
    number of Shares in respect of which you intend to accept the Share       
    Offer, by post or by hand to the Registrar at Rooms 1712--16, 17th        
    Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong as soon          
    as possible and in any event so as to reach the Registrar by not          
    later than 4:00 p.m. (Hong Kong time) on Friday, 20 May                   
    2005.Optionholders intending to accept the Option Offer should            
    submit a completed PINK Form of Acceptance, together with the             
    relevant Share Option(s) certificate(s) (if any) for not less             
    than the number of Share Options in respect of which you intend           
    to accept the Option Offer, by post or by hand to the company             
    secretary of the Company marked ``MediaNation Option Offer'' at           
    Room 3507, 35/F., The Center, 99 Queen's Road Central, Hong Kong          
    as soon as possible and in any event so as to reach the Company           
    by not later than 4:00 p.m. (Hong Kong time) on Friday, 20 May            
    2005.                                                                     
                                                                              
    Shareholders and Optionholders who have any queries and concerns          
    about the Offers are encouraged and welcomed to contact Mr. Simon         
    Dewhurst of CLSA, the financial adviser to the Offeror in relation        
    to the Offers.                                                            
                                                                              
    By Order of                           By Order of                         
    the Board of Directors                the Board of Directors              
    JCDecaux Pearl & Dean Ltd             MediaNation Inc.                    
    Jean-Michel Geffroy                   Kam Wai Sum, Brian                  
    Director                              Chairman                            
                                                                              
    Hong Kong, 13 May 2005