Xin Net Corp. - Corporate Update.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 9, 2001 Xin Net Corp. The Board of Directors of Xin Net Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :XNET XNET Cross Net Debugger XNET Extended Network ) wishes to announce the following business developments: E-commerce solutions The company has successfully completed and delivered in December 2000 e-commerce systems it undertook to design, develop and install, under contract to Beijing Future Technology Development Ltd., for three customers. Known respectively as Chinese Commercial Whirlwind E-commerce Net, Chinese Long-range E-commerce Net and Hunan Friendship Apollo Chain Superstore, all three systems have been tested and accepted by the customers. The three contracts have a total value of approximately 6 million RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) (US$ 725,000). Internet advertising Delivering ads to Internet users via Web sites, e-mail, ad-supported software and Internet-enabled cellphones. Also called an "ad network," Internet advertising organizations act as a middleman between the advertiser and the Web sites and software publishers that display the ads. Further to the press release of November 17, 2000 announcing "Xinnet Obtains Internet Advertising License", advertising contracts have been signed with several customers, including The DotTV Corporation International and Beijing Runying Network Technology Ltd. The company has also recruited agents in Beijing and Shanghai to promote and sell its internet advertising services. " Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
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. The company has restructured its Hong Kong operations whereby all domain name registrations (www.chinadns.com.hk) are now carried out by a recently appointed agent. Customer base Customer base exceeded 442,000 at the end of December 2000. The following table summarizes Xinnet historical growth: December 1997 4,000 December 1998 16,000 December 1999 68,000 December 2000 442,000 Xinnet provides Internet access and content (www.xinnet.com.cn), online domain name registration, website hosting, design & management (www.chinadns.com and www.paycenter.com.cn) and e-commerce solutions. It currently operates in Beijing, Chengdu, Guangzhou, Shanghai and Shenyang in Mainland China. Its customer base has grown to over 442,000 (including domain name registrants) at the end of December 2000. The Company also provides domain name registration services and e-commerce solutions in Hong Kong (www.chinadns.com.hk). Any forward-looking statement 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. in this press release is 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. Forward-looking statements involve risks and uncertainties including, but not limited to, economical and political factors, developments of the Chinese Internet market and changes in regulatory matters. The Company disclaims any obligation to update any such factors or to publicly announce results of any revision to the forward-looking statements contained herein to reflect future events or developments. ON BEHALF OF THE BOARD OF DIRECTORS (Signed) Marc Hung, President |
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