SINGAPORE -- For the financial year ended 31 December 2006, net profit surged 60% to US$8.3 million. Excluding the one time expenses pertaining to the voluntary general offer for Pacific Internet Ltd shares, net profit would have been US$9.1 million – a 75% increase over the previous year.

For the first time, revenue crossed the US$100 million mark, growing 23% to US$117 million.

On the cost side, all categories of expenses for the Group increased during the year in tandem with revenue growth. Also for the first time both revenue and expenses incurred in the new subsidiaries – PT Atlasat Solusindo and NetPlus Communications Pte Ltd – were included in the consolidated accounts.

Earnings Per Share (“EPS”) based on the weighted average number of ordinary shares was 0.79 US cents – a 23% increase over the previous year. Net Asset Value Per Share based on the issued and fully paid up share capital was 6.99 US cents.

Said Mr. Khaw Kheng Joo, Chief Executive Officer of MediaRing, “Our focus on VoIP is paying off for us, as reflected in the financial results. Going forward, with the addition of NetPlus, we have transformed MediaRing into a full service provider of IP communications offering both Voice and Data Services.”

MediaRing Ltd.