CathayOnline Focuses On Internet.NEW YORK--(BUSINESS WIRE)--Dec. 2, 1999-- CathayOnline Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CAOL) has entered into an agreement to sell its Electronic Lottery Kiosks business thereby allowing the Company to focus its business activities solely on the Internet industry. This move enables CathayOnline to continue its quest to become a leading fully diversified Internet services company targeting Chinese speaking people particularly in the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. . CathayOnline, together with 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. TorchMail.com, is striving to become the largest independent web-based e-mail See Internet e-mail service and HTML e-mail. and advanced messaging service in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. The Company's marketing strategy includes delivering high-growth, value-added services while continuing to grow through key acquisitions, joint ventures, and strategic alliances within the Internet market. 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, 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. , Taiwan, Singapore, Malaysia. Through key acquisitions, joint ventures, and prestigious international and domestic alliances, the Company has facilitated the delivery of unparalleled products and services in two high growth areas: (1) the Internet and (2) e-mail and advanced messaging services. CATHAYONLINE INC. ----------------------------- On Behalf of the Board of Directors Brian Ransom, President More information can be obtained about CathayOnline by visiting http://www.cathayonline.com 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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