09:11     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                                                                      
                                                                              
    Financial adviser to the Company                                          
    ANGLO CHINESE CORPORATE FINANCE, LIMITED                                  
                                                                              
    JOINT ANNOUNCEMENT                                                        
    EXTENSION OF THE PERIOD OF OFFERS IN RELATION 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.                                                                      
                                                                              
    As at 4:00 p.m. on Friday, 20 May 2005, the Offeror had received          
    a total of 12 acceptances in respect of a total of 306,016,428 Shares     
    under the Share Offer, representing approximately 16.97% of the           
    issued share capital of the Company.                                      
                                                                              
    In addition, valid acceptances of the Option Offer had been received      
    in respect of 137,362,245 Share Options, representing approximately       
    82.79% of the 165,916,890 Share Options outstanding.                      
                                                                              
    Immediately before the publication of the Announcement, the Offeror       
    held no Share in the Company.                                             
                                                                              
    As at the date of the Composite Document, the Offeror and parties         
    acting in concert with it were interested in 1,436,856,166 Shares,        
    representing approximately 79.67% of the total issued share capital       
    of the Company.                                                           
                                                                              
    As at 4:00 p.m. on Friday, 20 May 2005, taking into account the           
    acceptances received, the Offeror and the persons acting in concert       
    with it in aggregate own or control 1,742,872,594 Shares,                 
    representing approximately 96.64% of the issued share capital of the      
    Company and of the voting rights which may be exercised at general        
    meetings of the Company.                                                  
                                                                              
    In order to allow Shareholders and Optionholders who may wish to          
    accept the Share Offer and the Option Offer, respectively, further        
    time to do so, the Offeror has extended the time for acceptance of        
    the Offers. Accordingly, the Offers will remain open for acceptance       
    until 4:00 p.m. on Friday, 10 June 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, 10      
    June 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, 10 June 2005.