CathayOnline Announces Expansion of ICP Operation in People's Republic of China; CathayOnline Acquires ChinaNet Publishing.Business Editors, High-Tech Writers NEW YORK--(BUSINESS WIRE)--April 4, 2000 CathayOnline Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CAOL) announces that, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , CathayOnline Technologies (Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. ) Limited, it has acquired controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in CMD CMD cerebromacular degeneration. Capital Limited, a significant ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. development corporation. CMD is the parent company of ChinaNet Publishing Co. Ltd. ChinaNet publishes the Hong Kong edition of China Investment Journal, based in the People's Republic of China -- the most authoritative investment managing institute in China. CMD has also entered into a cooperation agreement with China Investment Publishing House. In addition to managing the Hong Kong edition of the China Investment Journal, CMD and China Investment Publishing House will be working together to develop a financial Website, www.prcinvest.com. The financial portal Financial Portal A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. directed toward the Chinese market is expected to include: daily updates of important business information in regions of China; a weekly review and summary; coming key topics; search engine for text/keywords in reports; database of economical data about cities, provinces and China; a service to provide business data upon request; and, real-time video of news, interviews and discussions. CMD plans on providing the website content in Simplified and Traditional Chinese in addition to English. The Company's newly established Beijing office, which will be the base of its core of operations, will interface with their development teams in both Vancouver and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . About CathayOnline CathayOnline is aggressively striving to become a leading fully-diversified Internet company targeting Chinese-speaking markets of the world, with primary focus in the People's Republic of China. Through key acquisitions, joint ventures, and prestigious international and domestic alliances, the Company is facilitating the delivery of unparalleled products and services in two high growth areas: (1) Internet connectivity; and, (2) email and advanced Internet communication services. More information can be obtained about CathayOnline by visiting http://www.cathayonline.com. CATHAYONLINE INC. For further information contact Sheila Bennett: CathayOnline Inc. Vancouver Office 604/687-8381. Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking statements may be identified by words including "anticipate", "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. |
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