(June 3, 2002, Hong Kong) - Thiz Technology Group Limited ("Thiz" together with its subsidiaries, the "Group"; stock code: 8119) today announced the formation of a sino-foreign equity joint venture company, JingShi Thizlinux Laboratory Stock Company ("JingShi Thizlinux"; "京師即時科研"), with Beijing Normal University ("BNU"; "北京師範大學") and Eaglemax International Investment Limited ("Eaglemax"), a wholly-owned company held by a director of the Group, in Beijing, the PRC. The joint venture ("JV") will develop the first and only distance learning educational programs for school principals and teachers in primary and secondary schools in the PRC. This is another step for the Group to further penetrate the PRC market.

According to the JV agreement, the registered capital of JingShi Thizlinux will be RMB50,000,000. Thiz, BNU and Eaglemax will contribute RMB15,000,000 (approximately HK$14,150,943), RMB20,000,000 (approximately HK$18,867,925) and RMB15,000,000 (approximately HK$14,150,943) for their 30%, 40% and 30% interests in the JV respectively. Profits sharing ratios for the shareholders in the JV will be the same as their shareholdings.

Mr. Albert Li, Chairman of Thiz, commented on the formation of JingShi Thizlinux, "Not only are we delighted to cooperate with such a nationally recognized university in the PRC, we are also thrilled by the opportunities presented. As an effort to raise the education standard, all secondary and primary school teachers have to possess an education degree by 2007, and continuing education is needed for all teaching staff with or without degree. Expecting a surge in the demand for education degree, Thiz decided to be the first mover to target this lucrative market. Combining Thiz's cost-effective Linux software and BNU's reputation, the JV is deemed to be a success."