By PRNewswire-FirstCall

Pacnet Limited formerly known as Connect

Holdings Limited (the Offeror) wishes to announce that its voluntary cash general offer (the Offer) for all the issued ordinary shares of Pacnet Internet (S) Limited formerly known as Pacific Internet Limited (PIL) other than those already owned by the Offeror (the PIL Shares) closed on 15 May 2008.

The depositary for the Offer has advised the Offeror that as of 15 May 2008, 468,524 shares, representing approximately 3.38% of the issued shares of PIL (based on the latest available information provided to the Offeror by PIL) had been validly tendered in and not withdrawn from the Offer. All validly tendered shares have been accepted for payment, and payment will be made promptly in accordance with the terms of the Offer.

As of 27 March 2008, being the date of the Offeror's announcement of the Offer, the Offeror and parties acting in concert with it owned 12,599,754 PIL shares, then representing approximately 90.78% of the issued share capital of PIL. Accordingly, as of 15 May 2008, the Offeror and parties acting or deemed to be acting in concert with the Offeror own, control or have agreed to acquire an aggregate of 13,068,278 PIL shares, representing approximately 94.15% of the issued shares of PIL.

The Directors of the Offeror (including those who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate.

Where any information has been extracted from published or otherwise publicly available sources (including, without limitation, information relating to PIL), the sole responsibility of the Directors of the Offeror has been to ensure through reasonable enquiries that such information is accurately and correctly extracted from such sources or, as the case may be, accurately reflected in this Announcement, and they jointly and severally accept responsibility accordingly.