Seoul, South Korea, Dec. 9 /PRNewswire-FirstCall/ -- WiderThan Co., Ltd. (NASDAQ:WTHN), announced today its initial public offering of 6,000,000 American depositary shares, or ADSs. Each ADS represents one common share. The ADSs are evidenced by American depositary receipts, or ADRs. The ADSs were offered today at US$12.00 per ADS and will commence trading on the NASDAQ National Market under the symbol "WTHN." The offering consisted of 4,000,000 ADSs offered by WiderThan and 2,000,000 ADSs offered by selling shareholders. WiderThan has granted the underwriters a 30-day option to purchase up to an additional 900,000 ADSs to cover over-allotments, if any. The offering is scheduled to close on December 14, 2005. JPMorgan and Merrill Lynch & Co. acted as joint bookrunners for the transaction, and Lehman Brothers acted as joint lead manager. A copy of the prospectus relating to these securities may be obtained at http://www.sec.gov/. This press release and the information contained herein is not an offer to sell or a solicitation of any offer to buy the American depositary shares ("ADSs") in the United States. The ADSs may not be offered or sold in the United States in the absence of registration under the United States Securities Act of 1993, as amended (the "Securities Act"), or an exemption from such registration requirement. The Company has registered the ADSs pursuant to the Securities Act in connection with an offering, part of which is expected to be conducted in the United States. Any public offering of the ADSs to be made in the United States will be made only by means of a prospectus meeting the requirements of the Securities Act. Such prospectus, copies of which may be obtained from the Company, will contain, among other things, detailed information regarding the Company, its business and management, as well as financial statements and other financial information regarding the Company. No money, securities or other consideration is being solicited by this press release or the information contained herein and, if sent in response to this press release or the information contained herein it will not be accepted. About WiderThan WiderThan is a leading provider of integrated mobile entertainment solutions for wireless carriers. Our applications, content and services enable wireless carriers to provide a broad ranges of mobile entertainment, such as ringback tones, music-on-demand, mobile games, ringtones, messaging and information services, to their subscribers. WiderThan currently provides mobile entertainment solutions to 42 wireless carriers in 17 countries, including SK Telecom in Korea, Cingular Wireless, Sprint Nextel, T-Mobile USA and Verizon Wireless in the United States, Bharti Airtel in India and Globe Telecom in the Philippines. PRNewswire -- Dec. 9 DATASOURCE: WiderThan Co., Ltd. Web site: http://www.widerthan.com/

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