(Sydney Australia – 11 February 2003). Professional services group Hyro Limited (ASX: HYO) announced today it has signed a conditional agreement to acquire 26% of Cyberworks Consulting Limited. Based in Bangkok, Cyberworks is Thailand’s leading IT Consulting company, providing software and internet solutions to blue chip clients and is Thailands only Microsoft Gold Partner for ecomerce.

Since its launch in 2000, Cyberworks has built an impressive track record, serving blue chip International and Thai companies such as Coca-Cola (Thai Pure Drinks Ltd), GlaxoSmithKline, Unilever, Samsung, Volvo, Land Rover and the Bank of Thailand.

Teaming up with Cyberworks is an important step in Hyro’s vision for comprehensive coverage of the Asia Pacific Region, complementing Hyro’s successful business in Singapore under the name of Hyro Asia. Cyberworks strengthens the competitive advantage that Hyro already enjoys in the areas of design, strategy, technology, creativity and branding in addition to digital e-commerce solutions.

"We are very excited to be joining forces with Hyro. There are a tremendous amount of opportunities for growth in Thailand and within the Asia Pacific Region. With our combined expertise and resources, I have no doubt we will make a significant impact on this market. Hyro’s resources and capabilities will also help our local Thai clients to capitalize on new business opportunities and increase market share and recognition beyond Thailand," says Anthony McDonald, Managing Director of Cyberworks.

“Cyberworks is a great business. Their addition to the group is in line with our expansion plans in Asia Pacific. Since the annoucment of Hyro’s restructuring of last year we have deliberately set out to build the region’s leading professional services organisation specialising in digital marketing services and technology integration solutions. Through the relationship with Cyberworks, we will have greatly enhanced our capability to fulfill the technology and engineering needs of our clients. With 94 employees in three countries, we are able to greatly expand our services and geographic reach by drawing on a vast array of skills and experience to create value for our clients both locally and across the region,” says Anthony Bertini, CEO of Hyro Ltd.

The initial acquisition under the Conditional Agreement is expected to be completed in approximately 4 weeks time and will be financed through an issue of shares by Hyro Limited. Under this Agreement, Hyro is entitled to increase its shareholding in Cyberworks up to 100% over the next 3 1/2 years.

About Hyro Group of Companies
Hyro Limited (formerly BMCMedia Limited) is a leading professional services organisation offering corporations, advertisers and marketers a comprehensive range of specialist digital marketing and technology services. Hyro Media has actively sought to consolidate its position as a the leading sullpier of solutions group in the Asia-Pacific region. It is Hyro’s stated position to continue to add to it’s skill base and grow it’s physical presence throughout the the region. Hyro has a growing range of services offering a complete “one-stop shop” solution, with the companies Hyro Communications, Hyro Technologies, HyroAsia, and BMCOptimise, through offices in Sydney, Melbourne and Singapore.

HYROCommunications, launched in 1995, is Australia’s leading integrated agency providing major brand marketers with award-winning creative, marketing, technical and strategic solutions. HYRO Communications provides a range of integrated marketing services including website design/development, online marketing & advertising, CRM strategies and online brand management. Clients include Telstra, Nike, Coca-Cola, Levi’s Strauss, Transfield Services, BHP Steel, Simplot Foods and the Commonwealth Bank among others. Visit www.hyro.com

HYRO Technologies commenced trading in Australia in October of 2000 through the acquisition of Fluid Digital in Melbourne and later, Vitascope in Sydney. Hyro Technologies offers clients strategic, creative and technology e-Business know-how and was augmented through the acquisition of the business assets of mmpowered communications, in January 2002. This acquisition brought a consulting and product dimension to the evolving core capability of the company and enabled it to realign its business towards what they have recently coined “information integration”; where its capability focus remains today, providing services to Ford Australia/NZ, Glaxso Smith Kline, MLC and Qantas. Visit www.hyro.com

HyroAsia is a Singaporean based, boutique, high-end digital creative and technology agency. With a seasoned multi-talented team of digital media specialists, Hyro staff have extensive regional and global experience. The team works with international and local brands including Asia Pacific Breweries, Discovery Channel, DHL, American Insurance Group and Standard Chartered Bank. Visit www.hyroasia.com

BMCOptimise is a company focusing on search engine optimisation, which allows advertisers' sites to be listed at the top of all search engines around the world, including Yahoo and Google. Any web site today that is looking for a strategy to build traffic needs to be high on a search engine’s ranking and Optimise can achieve this. Visit www.bmcoptimise.com.au

About Cyberworks Consulting Limited
Cyberworks commenced trading in Thailand in 2000. Widely acknowledged as the pre-eminent provider of IT consulting services and solutions in the region, specializing in high quality software development, ASP.Net, eCommerce and Web Design solutions work for clients. The company is Thailand's only Microsoft Gold Partner for eCommerce and has ten Microsoft Certified Solution Developers. Cyberworks Consulting also represents several other international software companies. It provides localisation, representation, implementation and project management services to companies needing high quality representation in the Thai market.