January 04, 2002

StarMedia Network announced that the Nasdaq has informed the Company that its securities will be delisted from The Nasdaq Stock Market effective February 1, 2002. The reason stated by the Nasdaq Listing Qualifications Panel for its
action was that StarMedia Network was not in compliance with Nasdaq's Marketplace Rule 4310(c)(14) as a result of the Company's failure to file its Form 10-Q for the fiscal quarter ended September 30, 2001.

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