"Jokes are fundamentally about sharing so this is a great opportunity for us to bring it into the 21st century through peer-to-peer mobile messaging," added Michael Goldman, president of LA-based Comedy Time. "Comedy Time has pioneered short-form comedy video for mobile and broadband and we are pleased to be bringing professionally-generated content into the world of multimedia messaging."

Content will include live comedy events coordinated by Bob Fisher, owner of the legendary Ice House in Pasadena, California, which nurtured talents such as Steve Martin, Robin Williams, Billy Crystal, David Letterman, and Jay Leno. The deal with Fun Text spans all of Comedy Time's brands including 'ChickComedy' and 'Comedy Time Latino' and will initially be launched on Fun Text's US channels starting with Sprint.

The Fun Text solution connects content with communication and provides integrated access across clients (Java, Symbian and Brew) as well as Wap and Web store fronts. It is already deployed by carriers such as Sprint, T-Mobile and 3. The service is offered from the messaging menu of many handsets and displays managed galleries of online professional content for fun, social and emotional messaging.

About Fun Text

Fun Text is a content-based mobile messaging service that enables users to quickly and easily add rich media to their text messages for emotional expression. Users can add Fun Text images to their messages through an online content store integrated into the handset's messaging menu structure. Fun Text combines the richness of MMS with the ease of use of SMS.

Fun Text represents a new category of messaging in-between user-generated photo-messaging and SMS - 'emotional messaging' where users can deploy professionally created content within messages to clearly express emotional statements. MMS is generally used occasionally for sending camera phone pictures and SMS is used regularly for brief, 'functional' statements - Fun Text creates a new, high traffic, emotional communication medium as an alternative to both.

Fun Text drives MMS traffic, leveraging historic infrastructure investments for operators. The professional content 'emotional messaging' category gives users new contact opportunities, driving traffic over existing MMS infrastructure.

Fun Text is being adopted by some of the world's leading operators and already powers messaging for operators like 3, T-Mobile and Sprint. Fun Text is a proven technology and consumer proposition that has demonstrated significant revenue uplift for operators and brands.

CONTACT: Fiona Goldsworthy, Red Lorry Yellow Lorry Tel: +44 (0)20 7403 8878 Fax: +44 (0)20 7403 7834 e-mail: fionag@rlyl.co.uk WWW: http://www.rlyl.co.uk

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

- Turnover (interest and dividend income) for the six months ended 30th June, 2008, was HK$7,711,737, as compared to HK$2,624,708 in the same period last year, representing a 193.81% increase. Increases in loans receivable and return from unlisted securities accounted for the better part of this increase.

- Profit attributable to equity holders of the Company for the six months ended 30th June, 2008, was HK$14,995,620, as compared to HK$20,165,602 in the same period last year, representing a 25.64% decrease. Lower gains from sales and higher employee benefit expenses accounted for most of this decrease.

- Earnings per share of the Group were HK cents 38.45 for the six months ended 30th June, 2008, as compared to HK cents 67.48 in the same period of the previous year, representing a 43.02% decrease. The decrease was attributable to the factors noted above plus an increase in shares outstanding.

Subsequent to the end of the quarter, Harmony's NAV for the month of July was HK$7.34, still outpacing share price, as per the chart below.

-----------------------------------------------------------------------
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                                 July 31, 2008    June 30, 2008    % change
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NAV per share (HK$)                       7.34             7.57       -3.04
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0428 on HKEX (HK$)                        5.13             5.38       -4.65
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HAR on TSX (C$)                           0.79             0.80       -1.25
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Dr. Gus Chow, CEO of Harmony Asset, said, "While the second quarter was another solid quarter for Harmony, the softness in the Chinese stock markets means that management anticipates some volatility in valuations and profits. That being said, we continue to look for high-quality, undervalued assets which can benefit from our value proposition, where we can add management, process, or financial strength in the technology, resources, and food/retail sectors."

To access the complete quarterly information, including a report, MD&A, the financial statements, and notes to the financial statements, please go to this page on Harmony Asset's website at www.harmonyasset.net/section.asp?section_id=314.

You may also access the information on SEDAR, at www.sedar.com.

You may receive Harmony Asset news directly by subscribing to our email alerts at www.harmonyasset.net/section.asp?section_id=357.

ABOUT HARMONY

Harmony Asset Limited is a Hong Kong-based investment company focused primarily on unlocking the value in overlooked, privately and publicly held, emerging Chinese companies. Harmony focuses on the private industry that is shifting to process technology and value-added services. It positions itself in sound emerging private companies, with the emphasis on those focusing on high growth from the domestic market in the following sectors: resources and materials, manufacturing/technology, and food and retail.

Disclaimer

Every attempt has been made to ensure the information contained herein is valid at the time of publication. Any statements involving matters of opinion or estimates, whether or not so expressly stated, are set forth as such and not as representations of fact, and no representation is made that such opinions or estimates will be realized.

Contacts:
Harmony Asset Limited
Dr Augustine Chow
CEO
+852 2545 6883
+852 2544 9883 (FAX)
Email: guschow@harmonyasset.com.hk

Harmony Asset Limited
Room 1101
St. George's Building
2 Ice House Street
Central, Hong Kong
Website: www.harmonyasset.com.hk

SOURCE: Harmony Asset Limited

mailto:guschow@harmonyasset.com.hk
http://www.harmonyasset.com.hk