Acquisition

Adamind Ltd
08 February 2006


                                  Adamind Ltd


                Adamind enters China with strategic acquisition

  Purchase of SenseStream will accelerate penetration into the world's biggest
        mobile market and provide access to blue-chip Chinese customers


Palo Alto, California - 8 February 2006: Adamind Ltd ("Adamind" or the
"Company"), the leading global supplier of media adaptation software for mobile
messaging (MMS), content and convergence services market, announces it has
signed an agreement to acquire all of the issued and outstanding share capital
of Hong Kong based, SenseStream Ltd ("SenseStream") for a consideration of up to
US$2,000,000 in cash and shares. Under the terms of the agreement, Adamind will
pay an initial amount at completion of US$1,000,000 payable in cash with the
balance payable in shares by April 2007, dependent on certain targets being met
during 2006. The deal is expected to close by end February 2006.

Description of SenseStream

SenseStream is a leading 2.5G / 3G MMS content adaptation and media technology
solution product vendor in Asia Pacific. It develops, markets and distributes
software that helps Service Provider, Portal and Enterprise customers to provide
and deploy mobile value added service for business and wireless solutions.

Since 2002, SenseStream provides critical Multimedia Management Technology that
many mobile multimedia services and applications rely on to successfully and
seamlessly deliver multimedia messages. SenseStream's advanced and powerful
multimedia content adaptation server, DynaFit(TM) Server, is used by many of
Asia's leading wireless operators for deployment of successful mobile multimedia
services. Its proprietary PONFA(TM) (Publish Once N Fit All) Server and 
publishing tools allow content providers to create and publish wireless 
multimedia contents. SenseStream also participates in the commercialization of 
the new AVS-M (video on mobile) China video standard.

Kiok Tan, CEO of SenseStream, has a long history of building up a businesses in
the communications industry. Prior to setting up SenseStream, he worked for
Motorola for six years, his last assignment was as Business Director at Motorola
China, Personal Communication Sector, based in Beijing. He also worked with HP
as Marketing Manager, Asia Pacific for many years prior to joining Motorola. The
CTO and co-founder is Eno Tsin who was formerly a research scientist with
computer laboratories of London and Cambridge University. He was a Technical
Manager with SkyTel and was co-founder of Media60X that developed the first
commercial location based system using enhanced Cell-ID technology in Hong Kong
in 1996.


Rationale of the deal

SenseStream's acquisition is the first by Adamind since its flotation in
February 2005 and marks a major strategic move by the Company to expand into
mainland China, Hong Kong and Taiwan as large amount of monies are being
invested in telecommunications infrastructure to cope with demand in the run up
to the Olympics in 2008 and beyond.


The acquisition is highly complementary with Adamind's footprint in the region
with recent wins in Australia, Philippines and Singapore. It will enable the
Company to accelerate its penetration into one of the world's fastest growing
and largest mobile markets, namely, China, Taiwan and Hong Kong.


The number of mobile phone subscribers in China alone is reported to be more
than 393 million (33% of the population) and is set to rise to 742 million
subscribers by 2010. For the Asia Pacific region as a whole, Frost & Sullivan,
the independent market consulting business, expects mobile data revenue to grow
at a CAGR of 19.2 percent from 2004 to reach over $58 billion in 2009.


SenseStream MMS products are already powering the infrastructure and live
commercial services of seven major operators in Hong Kong, Macau, Singapore and
Taiwan. China's leading telecommunication equipment manufacturer Huawei, based
in Shenzhen is a key customer of SenseStream. In addition, SenseStream also has
recently become a qualified supplier of ZTE, another leading networking
equipment manufacturer based in Shenzhen.


Shailendra Jain, CEO of Adamind, said: "The acquisition of SenseStream is a
strategic milestone for Adamind and takes us into the world's most dynamic
mobile data market. We will gain access to major customer accounts in China,
creating a truly global footprint for Adamind as well as shareholder value in
the long term."


The Company will announce its results for the year to 31 December 2005 on 20
March 2006.


Enquiries

Adamind
Shailendra Jain, CEO                    [phone] on the day

Corfin Communications                   [phone]
Neil Thapar, Harry Chathli



NOTE TO EDITORS
About Adamind

Adamind is a pure-play provider of rich media content adaptation and enhancement
software solutions for the mobile space. The Company's flagship platform,
Adamind Spire(TM) provides industry-leading automated solutions for message and
content transcoding and benefits virtually every player in the mobile delivery
chain. Its superior multimedia capabilities enable service operators to deploy
successful media rich content services, generating new revenue streams, driving
key new Value-Added-Services (VAS) enablers, such as Advertising, Branding, DRM
and spam filtering and anti-abuse support. With over 100 deployments in mobile
operator networks worldwide, Adamind is strategically poised to enable the
promise of the Mobile Lifestyle revolution. Adamind has strategic relationships
with major infrastructure vendors and system integrators including Ericsson, HP,
IBM, Accenture, LogicaCMG, Motorola, Openwave, Critical Path and CBOSS.
www.adamind.com




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