CathayOnline Announces Expansion of Internet Services in China.Business Editors NEW YORK--(BUSINESS WIRE)--April 27, 2000 CathayOnline Inc. is pleased to announce the expansion of their Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the services to Beijing Beijing (bā-jĭng) or Peking (pē-kĭng, pā–), city (1994 est. urban pop. 6,093,300; 1994 est. total pop. 7,240,700), capital of the People's Republic of China. It is in central Hebei prov. , the capital city of China. The Company has entered into a cooperation agreement with the Second Institution of the Aerospace Machine & Electronic Group (AMEG AMEG Association for Measurement and Evaluation in Guidance ) to provide Internet services for the region of Beijing. AMEG's current scope of business includes telephone communications, computer network communications, cable television networks, and fiber-optic cable networks. They currently serve approximately 70,000 telecom users. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mr. Keli Wu, Chairman of CathayOnline's Beijing office, "We will continue to identify key strategic partners with a strong regional presence." Mr. Wu has over 40 years technology experience and is widely considered the "Founding father of China's Aerospace industry." He is also the current chairman and founder of China Online in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. China Online is one of the largest independent Internet Services companies for Greater China. CathayOnline views this as a strategic partner to launch their Internet services for Beijing. Beijing is currently the "most wired" region in China and is home to just over 21% of China's Internet market. China is now on track to become one of the world's largest Internet markets as early as 2003, with a user base of 33 million. In terms of penetration, this will only represent approximately 6.50% of China's population that is expected to be online. CathayOnline is well positioned in taking a major role in this fast growing market in China. About CathayOnline Inc. CathayOnline will continue its goal in extending its branded connectivity, communications and content to China's most dynamic and high growth urban markets, in particular Beijing, Guangdong and Sichuan Provinces, capturing a major share of the potential 1.4 billion Chinese speaking community. The Company plans to foster long-range growth through strategic joint ventures, aggressive marketing and exceptional customer service. More information regarding CathayOnline can be obtained by visiting www.cathayonline.com. CathayOnline's mission is to be premier Internet Content, Services and Solutions provider to the global Chinese community. Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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 a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. 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 relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 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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