CathayOnline Expands Operations in China and Appoints Chairman for New Office in Beijing.Business Editors, High-Tech Writers NEW YORK--(BUSINESS WIRE)--Feb. 2, 2000 CathayOnline Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CAOL)(www.cathayonline.com) is pleased to announce the Company has expanded its operations in China with the opening of a branch office in Beijing. Beijing CathayOnline Technologies Co. Ltd. will be headed by its newly appointed Chairman, Mr. Keli Wu. Beijing CathayOnline will service: (1) the expansion of our Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ); (2) the launching of the Company's Internet Content Portal (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. ); and, (3) support the growth of our subsidiary TorchMail.com, Inc. Mr. Wu comes to CathayOnline with more than 40 years experience in the Aerospace industry. He is currently the Executive Director of China Great Wall Industry Corporation and is also the Chairman of Shenzhen-based Rayes Group Co. Ltd., which is China's first and largest private ISP. Utilizing his many years of experience, Mr. Wu will work with CathayOnline in order to establish a strong presence Beijing. The Company's recent strategic progressions will ensure that CathayOnline continues to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growth potential of the Internet in both the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China and the Chinese-speaking population of the world (approximately 1.4 billion people). It is CathayOnline's long-term goal to become a leading Web-based communications facilitator for China and Chinese-speaking markets globally, providing a complete range of Internet services and solutions. About CathayOnline CathayOnline is aggressively striving to become a leading fully-diversified Internet company targeting Chinese-speaking markets of the world, with primary focus on the People's Republic of China. Through key acquisitions, joint ventures, and prestigious international and domestic alliances, the Company is facilitating the delivery of products and services in two high growth areas: (1) as an Internet Service Provider as the backbone and (2) advanced communications through the use of the Internet. More information can be obtained about CathayOnline by visiting http://www.cathayonline.com. CATHAYONLINE INC. Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as &uot;forward-looking statements&uot; 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 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. may be identified by words including &uot;anticipate&uot;, &uot;believe,&uot; &uot;intends,&uot; &uot;estimates,&uot; &uot;expect,&uot; 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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