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T-online Venture Fund invests in Guangzhou 1bib software development


Press Release

Bonn, February 7, 2008 – T-Online Venture Fund today announced an investment in Guangzhou 1bib software development Ltd. The Chinese start-up company provides an online marketplace and brokering services for used and new cars, trucks & buses in China. The investment will be used to further expand the business.

This strategic investment emphasises the growing importance of emerging markets such as China. “1bib is a high potential company in a high potential market, it is important for T-Venture – as being the venture capital arm of Deutsche Telekom – to consider those important and promising markets” said Oliver Fietz, T-Venture. “The online landscape and the usage of internet are rapidly changing in China. This partnership, which highlights the market potential of 1bib, will bring in the experience of T-Venture and allow 1bib to have a competitive advantage.” said HongLian Tan, CEO of 1bib.

1bib.com provides the internet users with an important automobile database containing a wide range of choices, the possibility to compare, to rate cars and dealers and to share information about automobiles and thus gives customers access to a higher market transparency.

About Guangzhou 1bib software development Ltd.
Established in 2006 and incorporated in China, GuangZhou 1bib software development Ltd. is certified by the government of GuangZhou as a high technology company. GuangZhou 1bib software development Ltd. has developed www.1bib.com, an online platform for used & new car trading for the Chinese market for private individuals, dealers, wholesalers and carmakers.

1bib.com offers its customers a convenient and reliable tool for purchasing and selling used vehicles in China. 1bib.com connects buyers with sellers and enables smart vehicle choices using objective data. The company also develops software tools such as Dealer Management System to enable professional used vehicle dealers and carmakers alike to manage the vehicle trading process.

Press Contact:
Guangzhou 1bib software development Ltd
Dr. Mark Tu
Public Relations
Tel.: +86 020 8562 3003 - 699
Fax: +86 020 8552 1902 - 669
Email: dr.nan.tu@1bib.com

About T-Online Venture Fund
The T-Online Venture Fund was established in 2001 and is equipped with an investment volume of EUR 100 million. It is managed by T-Venture, the venture capital entity of Deutsche Telekom. Its aim is to support the strategic business segment Broadband/Fixed Network of Deutsche Telekom in its objectives. For additional information about T-Venture and the T-Online Venture Fund please visit www.t-venture.de.

Press Contact:
T-Venture Holding GmbH
Sabine Kohl
Tel.: +49 228 30848-95
Email: t-venture@telekom.de


Publisher Contact Information:

T-Venture Holding GmbH
+49 228 30848-95
t-venture@telekom.de

Company profile of T-Venture Holding GmbH
Past press releases of T-Venture Holding GmbH.

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