PacificNet to resume trading

BEIJING, China -- (PRESS RELEASE) -- PacificNet, Inc. (Nasdaq: PACT), a leading provider of e-commerce and gaming technology in China, announced today that due to a Nasdaq administrative error, the Company's trading was temporarily halted but will resume trading on the Nasdaq Global Market on Monday, April 28, 2008. PACT management held a call with the Nasdaq Listing Qualifications Dept. immediately after noticing trading irregularities to address the issue.

As PACT announced previously, the Company has delayed the filing of its 10-K annual report due to an increase in its scale of operations and increased account work as a result of recent mergers and acquisitions. PACT plans to file its 10-K annual report within one month. PacificNet has appealed the Nasdaq Staff's determination by requesting a hearing before the Nasdaq Listing Qualifications Panel, which would automatically stay the delisting of PacificNet's common stock pending the Panel's review and determination. Although there can be no assurance that the Panel will grant the Company's request for continued listing, once the 10-K is filed, PACT believes the Nasdaq non-compliance situation will be remedied.