China World Trade Corporation Signs Letter of Intent to Acquire 50% Interest in United Information Network Holdings Limited; CHWT Plans Growth Through Acquisition.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Feb. 5, 2001 China World Trade Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CHWT) today proudly announced that it has executed a Letter of Intent with United Information Network Holdings Limited ("UINH") to acquire a fifty-percent (50%) interest in UINH. The business of UINH is uniquely focused on introducing Chinese suppliers to overseas buyers on its Internet portal with an aim toward building a trade bridge between domestic and international businesses by, amongst other things, operating the Web sites www.uinchina.com and www.uinworld.com as its main business platform. UINH reports that it currently has approximately 200 agents facilitating trade between domestic and international businesses and is currently averaging approximately US$50,000 in monthly revenue. John H.W. Hui, chairman and chief executive officer of China World Trade Corporation stated, "Our anticipated acquisition of UINH represents another major move toward fulfilling our goal of being the actual nexus of world trade with China." Hui added, "We look forward to experiencing a successful and prosperous relationship with UINH as we become a conglomerate conglomerate, in business conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company. in the China trade agency business." 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 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. made pursuant to 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. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in or registered broker. |
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