SAN FRANCISCO, CALIFORNIA, January 21, 2003 - Dynasty Capital Services LLC, a preeminent provider of strategic and financial advisory services, today announced the general availability of Broadband in the United States and Europe – What Went Wrong and What Are the Lessons for Asia?, the position paper presented by Dynasty at the 25th annual Pacific Telecommunications Conference (PTC) in Honolulu. This year’s conference brought together a dynamic mix of corporate executives, senior industry observers and high-level government officials from the Asia-Pacific region. At the conference, John S. Fischer, a Dynasty Managing Director and head of its telecom practice, delivered Dynasty’s views on how governments and telecom operators can successfully accelerate the proliferation of broadband access in Asia.

Mr. Fischer relied on his extensive experience in the United States, Europe and Asia to debunk many of the popular misconceptions on broadband deployment. Dynasty’s paper provides concrete guidance to policy makers on how to achieve a more efficient channeling of capital and enhanced broadband uptake while also providing telecom operators with an adequate return on investment.

To view a copy of the paper, please see www.dynastycap.com/perspectives.

Randolph L. Tom, Chairman and CEO of Dynasty, said: “For both governments and operators in Asia, ensuring the expeditious rollout of reasonably priced broadband access is an issue of paramount strategic importance. China, in particular, has positioned itself to become a world leader in broadband adoption. The Chinese government has set a target of 200 million Internet users by 2005, of which up to 40% should have broadband access. Our paper, which is based on Dynasty’s experience advising companies and governments around the world, provides highly significant insight into how players in Asia can seize on the broadband experience in America and Europe to achieve their ambitious objectives for the widespread rollout of reasonably priced broadband access.”

About Dynasty Capital Services

Dynasty Capital Services is a preeminent provider of strategic and financial advisory services focused on high-growth companies operating on a global scale. Founded in 1988, Dynasty’s expertise enhances value by enabling clients to: develop and implement new market entry strategies, execute financings, alliances and other strategic transactions, and catalyze all the elements of a successful enterprise.

Based in the San Francisco Bay Area and with offices in New York, Beijing, Denver Boston and San Diego, Dynasty Capital Services is globally accessible via the Internet at www.dynastycap.com.