Chinawe's Approval of Listing in Standard and Poor's Corporation Records.

Business/Technology Editors

NEW YORK--(BUSINESS WIRE)--June 19, 2001

Chinawe.com Inc. (OTCBB: CHWE; "Chinawe"), announced today that the Editorial Board of Standard and Poor's ("S&P") has approved Chinawe for a complete corporate listing and description in Standard and Poor's Corporation Records.

Additionally, Chinawe will have its corporate description published in Standard and Poor's Daily News Section. S&P also will initiate financial coverage of Chinawe as part of the S&P Market Access Program, including coverage of Chinawe on S&P's Internet website, http://advisorinsight.com/ as well as S&P Marketscope and the electronic version of S&P Stock Guide database.

Standard and Poor's Corporation Records is a recognized securities manual for the "Blue Sky" Standard manual Exemption for secondary trading in more than 35 states. Chinawe's listing in Standard Corporation Records should assist the brokerage and investment communities in making a market for Chinawe's stock. It is recommended that brokers check with their compliance officers or legal counsel for applicable "Blue Sky" laws and regulations pertaining to them.

Chinawe.com Inc., a China-based enterprise, is a business-to-business e-commerce service provider specializing in two scopes of business activities: (1) acting as an exclusive agent for Great Wall Asset Management Corporation ("Great Wall"), a Beijing-based single proprietorship financial company set up with a paid up capital of RMB 10 billion and controlled by the government of the People's Republic of China ("PRC"), to resolve non-performing assets valued in excess of RMB 400 billion recovered by The Agricultural Bank of China; and (2) providing business-to-business e-marketplaces to small-to-medium business ("STM") in Mainland China and Hong Kong.

Chinawe is the first foreign e-commerce service provider in history that PRC appoints to participate in resolving such an extensive amount of assets. Under this exclusive agreement, Chinawe is the sole e-commerce service provider to co-operate with Great Wall to resolve their assets through collection, restructuring, transfer, sale and securitization. Chinawe is currently in the final stage of developing a comprehensive electronic business intelligent system in compliance with Great Wall's assets portfolio to provide an effective channel for promotion of assets via Chinawe's e-commerce platform: http://www.chinawe.com. The system will facilitate the asset sales by means of interactive negotiations and transactions, and will allow potential buyers/investors to effectively source their prospectus from a user-friendly database search engine. The first batch of assets of approximately RMB 30 billion in value shall be launched in Chinawe's web site in August 2001.

Chinawe will also provide consulting services to Great Wall to assist them in working out appropriate marketing strategies and proposals for individual assets and will participate in necessary road shows in US for exposing these assets to foreign business opportunities.

Chinawe is one of the major business-to-business e-marketplaces to enable online access to business products and supplies, business-to-business transactions, and business-related information and services to small-to-medium business ("STM") in Mainland China and Hong Kong. Business-to-business activities are focused on deriving revenue from one or more of (a) membership fees from members: (b) commissions from the sale of goods sold by members; (c) advertising revenues generated from banner advertising on the web site; and (d) advisory and other consulting services. The current membership consists of hundreds of persons and entities

Forward Looking Statements: Statements in this news release looking forward in time are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties, including general economic conditions, delays and risks associated with the performance of contracts, uncertainties as a result of research and development, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings and regulatory risks.