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May 05, 2001

StarMedia Network, Inc. announced the appointment of Enrique Narciso as President of StarMedia Network, effective immediately. Previously, Narciso served as General Manager, StarMedia Mobile.

In his new role, Narciso will be responsible for managing the company's operations and executing its global strategy, expanding StarMedia's leadership throughout its markets. Narciso will report to Fernando Espuelas, Chairman and CEO of StarMedia Network. StarMedia's former President, Jack Chen, will now serve as Vice Chairman of StarMedia's Board of Directors, where he will retain responsibility for overseeing the Company's strategic development.

"Enrique has consistently anticipated market trends, and has successfully executed on strategies to capture new opportunities. As General Manager of StarMedia Mobile, he led the division to become an essential asset enabling
StarMedia to capitalize on the explosive growth of the wireless Internet market in Latin America. His clear vision on the future of the Internet and deep knowledge of our markets, combined with his exceptional management skills, position him as the ideal candidate to continue StarMedia's long-term market leadership," said Fernando Espuelas, Chairman and CEO of StarMedia Network.

"StarMedia established itself early on as the market leader, with a unique and focused message and mission for the region. I am enthusiastic to have the opportunity to extend StarMedia's leadership into the future through winning strategies executed by a dynamic and talented team," said Enrique Narciso, President of StarMedia Network.

"We have successfully built an industry-leading Internet company with the most extensive audience and one of the largest sellers of online advertising in the Spanish- and Portuguese-speaking markets. I am confident that with Enrique's distinguished track record in managing operations and executing successful strategies, StarMedia will continue to capture the tremendous opportunity in the region," said Jack Chen, Vice Chairman of StarMedia
Network.

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