In an information providing system, a virtual three-dimensional space is established. Users of mobile communication terminals virtually move in the virtual space by manipulating an avatar representing the user and obtain advertisement information through electronic signboards. Users of information providing terminals place electronic signboards at appropriate positions in the virtual space and provide announcement information for the users of the mobile communication terminals. An information management server manages the announcement information provided by the information providing terminals and generates links each of which lead from advertisement information to other advertisement information. The information management server determines priorities for such links, based on use of advertisement information by the users of the mobile communication terminals. The information management server displays the links differently depending on the priorities. For example, a link to an announcement information item which is browsed more frequently is displayed more conspicuously than other links.