Wednesday May 12, 9:11 am Eastern Time
Company Press Release
MyWeb Inc.com To Unveil MyWeb Online Service
China At Beijing Internet Convention
NEW YORK--(BUSINESS WIRE)--May 12, 1999--New York-based MyWeb Inc.com (OTC BB:MYWB - news), which
last month concluded major agreements with ChinaNet -- the Internet backbone and service provider of China Telecom -- and
with Beijing Telecom for 200,000 of MyWeb's set-top boxes, will unveil its MyWeb Online Service (MOS) next week at the
largest Internet convention ever to be held in China.
The China Internet Conference & Exhibition '99 (ChinaInet'99) will take place May 18 - 20 at the Beijing International
Convention Center, with an expected 5,000 conference attendees and 50,000 exhibition visitors.
At the exhibition, Wong plans a formal announcement of MyWeb Online Service China (MOS China), an Internet portal
providing applications to both PC and set-top box users.
''By unveiling MOS China at ChinaInet'99,'' Wong said, ''we believe that the expansion of our set-top boxes in China, brought
about by our recent affiliation with Beijing Telecom, will drive Internet users to MOS.
''MOS China,'' Wong continued, ''will then provide the content and applications needed to increase the hardware functionality
and increase the value to our consumers. So the two products work to complement each other.''
MOS China is a Web portal whose six sections include Shopping, Business and Finance, Education, Entertainment, News and
Services. ''It would be fair to say that we aim at becoming the Yahoo! (Nasdaq:YHOO - news) or America Online
(NYSE:AOL - news) of Asia with our portal. With the recent developments, we see this as a realistic goal,'' Wong states.
''The emphasis of MOS,'' Wong notes, ''is to provide useful applications for each member of a household, ranging from young
children to senior members of the household. As an example, we have created alliances with local banks and stockbrokers to
provide home banking and stock-trading services. Our online shopping mall with Unilever offers personal-care products
directly from the manufacturer.''
Recently, many U.S. companies announced plans to enter the Chinese market as it develops. Recently, Dell Computers
(Nasdaq:DELL - news) announced it will start targeting the Chinese market, believing that ''China is by far the single largest
market of potential PC users on the planet'' (source: CNET's (Nasdaq:CNET - news) news.com 3/31/99).
The Chinese market has been described in some quarters as being the world's largest emerging economy. Internet users in
China are projected to increase from 2 million this year to as many as 10 million in 2000. Because of MyWeb's recent
co-marketing pact with ChinaNet, the Internet Service Provider for China Telecom, MyWeb is extremely well positioned to
capitalize on the Chinese government's new emphasis on Internet connectivity for governmental functions and commercial
businesses. The Beijing administration has announced plans to have 80 percent of Chinese companies wired by 2001. MOS
China, Wong added, is being jointly marketed and promoted by ChinaNet.
''A press conference will be held,'' Wong said, ''to announce further support for our initiatives by new partners to our
consortium.''
MyWeb's growth is being fueled by expansion in the number of set-top boxes, TVs with MyWeb functionality and partnering
Internet Service Providers. As partnering ISPs' subscriber bases continue to explode, these subscribers are then channeled to
MyWeb's portal, and its revenues from advertising and e-commerce transactions shoot up. ''It becomes a reiterative process,
where the laws of compounded growth apply,'' states Mr. Wong.
The statements made by MyWeb Inc.com (the Company) may be forward-looking in nature. Actual results may differ
materially from those projected in forward-looking statements. MyWeb Inc.com believes that its primary risk factors include,
but are not limited to: the need for substantial financial requirements; the need to develop effective internal processes and
systems; the ability to attract and retain high-quality employees; changes in the overall economy; regulatory policy; and the mix
of product and services offered in the company's target markets. Merger Communications (Merger) is a media-relations firm
employed by the Company. The statements and opinions presented here represent the views of the Company. Merger and the
Company believe that all information in this release presented herein is accurate or complete. Merger's compensation for its
media-relations services, including preparation of press releases, consist of a monthly retainer and warrants for the purchase of
the Company's stock. Merger may have a long position in the securities of the companies in which it distributes information to
the media, and Merger may be buying or selling securities in the course of its regular business. |
