China Broadband Corp. Completes Private Placement Financing.

Business Editors & High Tech Writers

CALGARY, Alberta, Canada--(BUSINESS WIRE)--April 8, 2002

China Broadband Corp. (OTCBB:CBBD) announced today that it has successfully closed the first tranche of a private placement financing for 2,997,160 million shares, priced at US$0.25 per share, raising a total of US$749,290. Issued and outstanding shares total 22,513,801 after this financing.

The Company has authorized the Agent to raise up to US$2 million in total at the issue price of US$0.25 per share. The proceeds of this financing will be used for working capital and to accelerate projects in Beijing and the province of Fujian, in the People's Republic of China.

About China Broadband

China Broadband is a leading broadband Internet provider in China. The Company, through its operational subsidiaries Big Sky Network Canada Ltd. and Chengdu Big Sky Technology Services Ltd., form co-operative joint ventures with municipal network providers to enable affordable, reliable, high-speed Internet access. The Company launched its first deployment in Shenzhen over the hybrid fibre cable television network; the first launch of two-way commercial Internet access in China. The Company has also launched Internet access on the cable television network in Chengdu, Sichuan, and via a metropolitan area network in a Chengdu Hi-Tech Park.

The Company has also executed agreements to enable Internet access in several cities, including Shanghai, Beijing, and Chongqing, and throughout the provinces of Hunan and Fujian. The Company has also entered into an agreement with Jitong to provide a fixed wireless solution throughout China over Jitong's existing city-specific and country-wide spectrum.

The resulting footprint of cable television subscribers the Company has under these agreements is in excess of 14 million, representing approximately 15 percent of China's 90 million cable subscribers; the largest cable network market in the world (65 million in North America).

Under these joint ventures, the Chinese partner contributes the exclusive access to the existing network and its customers, while the Company contributes the required capital, management, and Internet technology to enable Internet access once all government approvals are received.

Note: The information contained in this press release contains "forward looking statements" within the meaning of the U.S. Federal Securities Law. Such statements are based on the current expectations of the management of China Broadband Corp. only, and actual results may differ materially. For a more detailed discussion of risks and other factors related to China Broadband please refer to its 10-KSB and 10QSB reports filed with the U.S. Securities and Exchange Commission.