China World Trade Corporation Appoints Two Independent Directors.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Dec. 13, 2000

China World Trade Corporation ("CHWT")(OTCBB:CHWT) is proud to announce that it has appointed two independent directors, Peter Hurst and Wai Tung Cheung, to join the company's audit committee.

Peter Hurst has vast and extensive working experience in the banking industry. He was the Director of Corporate Banking for National Westminster Bank PLC, overseeing offshore units in Asia Pacific and the Middle East. For the past decade, Mr. Hurst acted as both a consultant and a member of the European Advisory Committee for Mitsubishi Electric  Co., advising on organizational structure, localization and cultural interchange.

Wai Tung Cheung is the Chairman of Culturecom Ltd., which is listed on the Hong Kong Stock Exchange. Mr. Cheung is responsible for corporate strategic planning and business development for Culturecom Ltd. Mr. Cheung is also the Chairman of ViaGOLD Capital Ltd., which is listed on the stock exchange of Australia. He was also the Chief Executive Officer of COSCO Group in Hong Kong and Singapore.

These appointments, together with a third soon-to-be-appointed independent director, is considered to be the preparatory step for the company to attain a full listing on one of the well-established national exchanges.

John H.W. Hui, Chairman and Chief Executive Officer of China World Trade Corporation, stated, "As is evident from the additions of Mr. Hurst and Mr. Cheung, the company is clearly focused on building a solid and successful management team, which will enable us to further widen our pipeline into the massive opportunities abundant in the ever-growing 'China Marketplace.'"

China World Trade Corporation is structured to be a dominant player in the trade agency business linking companies in China with the rest of the world.

Statements made in this news release concerning predictions of performance and the company's plans and objectives are not historic facts and constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve important risks and uncertainties that may cause results to differ materially from those set forth in this news release. All forward-looking statements are subject to the successful completion of actions described in the news release. Readers should carefully review the company and publicly available filings thoroughly with their registered investment advisor or registered broker.