CBCom Inc. Engages Magnum Financial Group; Company Widening Its Investment Audience.

Business Editors

ENCINO, Calif.--(BUSINESS WIRE)--Aug. 7, 2000

CBCom Inc., a development-stage company positioning itself, through strategic partnerships and acquisitions, to become one of the premier Internet service providers (ISP) and Internet content providers (ICP) in the People's Republic of China (PRC), today announced its engagement of Los Angeles-based financial communications specialist Magnum Financial Group LLC.

Currently in China, the ISP market is dominated by ChinaNet and China Unicom (NYSE:CHU), which service approximately 85 percent of the market. However, the remaining 15 percent of the Chinese market is spread among more than 300 independent ISPs.

The use of the Internet in the PRC is growing exponentially, having grown from 4 million users reported in July 1999 to 17 million reported in July 2000, with growth expected to reach 35 million users by the end of 2002.

CBCom's strategy, using its extensive business connections in the PRC, is to embark on a program of acquiring these independent ISPs. Given the rapid growth in Internet use in the PRC, CBCom believes that it can capture a significant portion of that growth by providing superior service (much as Earthlink (Nasdaq:ELNK) did in the United States) and establish itself as one of the leaders in the market.

Through Magnum, the company plans to enhance the communication of financial and corporate information with current stockholders, potential stockholders, brokers, analysts and other members of the investment community, positioning itself for when trading of its stock begins.

Michael S. Manahan, a principal at Magnum Financial Group, offered: "At Magnum, we have a track record of identifying emerging growth companies that present substantial investment opportunities for the small-cap investor.

"Before we take a company on as a client, we look at management, the strategy, the market and the industry -- seeking those gems in the small-cap arena that can provide, if successful, tremendous returns to stockholders.

"We believe the market in the PRC is still wide open, much as it was in the United States in the early '90s. The Chinese are rapidly becoming savvy consumers -- they're looking for service and price -- and we also believe that as a small, entrepreneurial player, CBCom can deliver. We're looking forward to adding CBCom to the growing list of Magnum success stories."

Commenting on the engagement, Max Sun, chairman of CBCom, remarked: "We are really excited to be involved in the Internet business in China, and have been anticipating this moment for CBCom for some time. Our company has devised a business model that we believe will add value not only to our operations in China, but also to our shareholders worldwide.

"We look forward to working with Magnum to assist us in providing open and consistent communications to the investment community about our strategy, our successes and our ongoing developments as we execute our business plan."

About Magnum Financial Group

Los Angeles-based Magnum Financial Group is a financial communications, corporate development and financial advisory firm representing middle-market and micro-cap companies as well as those companies planning to become public. Magnum is well recognized for its knowledge of the capital markets, communications strategies and substantial contacts in the investment community.

Magnum also represents other fine clients, such as: ACR Group Inc. (Nasdaq:ACRG), American Tire Corp. (OTCBB:ATYR), ASPAC Communications Inc. (OTCBB:ACMN), Cambridge Energy Corp. (OTCBB:CNGG), e-MedSoft.com (AMEX:MED), ProCyte Corp. (OTCBB:PRCY), SoftQuad Software Inc. (OTCBB:SXML), United Heritage Group (Nasdaq:UHCP), US Trucking Inc. (OTCBB:USTK), Vsource Inc. (OTCBB:VSRC) and View Systems (OTCBB:VYST).

Further information can be found at the company's Web site, http//www.magnumfinancial.com.

About CBCom

CBCom is a fully reporting company under the U.S. Securities and Exchange Commission rules, and intends to be publicly trading under the symbol CBCI. CBCom, through strategic partnerships and acquisitions, plans to be one of the premier ISPs and ICPs in the People's Republic of China.

Except for historical financial information that may be contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including but not limited to such factors as market demand, pricing and changes in worldwide economic conditions.