CBCom Strategic Partner Chinet Agreement Reached With Shanghai Securities News.

Business Editors

ENCINO, Calif. and BEIJING--(BUSINESS WIRE)--April 23, 2002

CBCom Inc. (OTCBB:CBCI) today announced that its strategic partner in the People's Republic of China (PRC), Beijing Chinet Information Technology Co. Ltd. (Chinet), has reached an agreement with Shanghai Securities News (SSN) to provide exclusive access to securities information to Chinet customers.

SSN has prepared a database with historical information on all of China's securities dating back to market inception, and has arranged for representatives from China's most reputable securities firms to provide daily investment advice. This advanced information will be made available exclusively to Chinet customers through its www.cncstock.com website. Attempted access to this information from other ISPs will result in a banner explaining that the information is only for 95777 subscribers.

SSN is the first newspaper in China to provide financial news and information specific to China's securities markets, with circulation in excess of 500,000 per day. With an investment of over two million dollars, SSN is prepared to release a premium version of its online version of the paper that currently offers only basic securities services and information without charge.

Gordon Gao, Chinet president, said of the deal: "This is an important agreement. With over 57 million private investors, and more of them turning to the Internet every day, it is the perfect time to rollout this type of service. Shanghai Securities News is an independent publication, so its investment advice is free from the bias of other brokerage house newsletters. This is sure to draw an increasing number of more affluent customers to 95777 who are willing to pay for premium level information. SSN's financial newspaper is the second largest publication of its kind in China. This gives us a huge targeted market from which we can generate additional revenues selling value-added financial services."

SSN will provide access to its premium financial information services and Chinet customers will pay for the services through their 95777 Internet access charges. Chinet will develop the website interface to the SSN information and will distribute a special CD. This CD will include a nationwide dialer and a special 95777 login account that provides access to the website's premium services. Fees will be collected by Chinet through its existing collection channels. Chinet will also be given advertising space in the hard copy publication without charge.

About CBCom Inc.

CBCom Inc., through its strategic partnership, is the fastest-growing non-state-owned Internet Service Provider in China, with a subscriber base of over 400,000. CBCom has assembled a core management team experienced in start-up operations, financial management, marketing and the Chinese telecom market.

For more information, see www.cbcom.net.

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. This report should be read in conjunction with the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q.