here's another one!!!
From : Business Wire
Jun 4 1999 5:42PM
Re : Power Direct Entering China''s Internet Market
Friday June 4, 06:26 PM Eastern time
Company Press Release
Power Direct Entering China''s
Internet Market
VANCOUVER, British Columbia--(BUSINESS
WIRE)--June 4, 1999--Power Direct, Inc. (OTC BB:
PWDR) is pleased to announce that the Company has
signed a Letter of Intent with Aniche, Inc. whereby the two
companies will enter into a Joint Venture Agreement to
develop and operate a Chinese Web Site to be known as
"GIFTSTAKES.COM".
GIFTSTAKES.COM will be set up and utilized to provide
a similar game to the Company's "Greeting Card Lotto"
(www.greetingcardlotto.com) within the country of China.
The Internet market in China has grown 500 last year and
has reached 1.5 million subscribers and is estimated to grow
to over 30 million Internet users in the next 5 years.
Although the Internet is in China, the average surfer within
China does not have access to web outside China. This is
why the Company has pursued the Joint Venture with
Aniche.
Aniche, Inc. (www.aniche.com) is an international business
development firm actively investing in Internet portals within China that will provide the Chinese market with marketing and distribution for foreign entities within China. Aniche is also establishing its strategic business relationship with China
Online (the equivalent of AOL - America Online in the
USA), the 400 million nationwide ISP and Internet
developer, having operations in over 100 major cities in
mainland China. The Chairman of Aniche, Mr. Chen Xing
Wei, is also executive chairman of China Online.
As a result of this joint venture between Power Direct and
Aniche, the "giftstakes.com" web site is poised to become
one of the most popular entertainment and on-line shopping
portals in China. With its value added content,
"giftstakes.com" will be distributed by China Online and
other popular Chinese digital content distributors.
On behalf of the Board of Directors
(SIGNED) ----------------------------- Jack Sha,
President
For further information, please contact Investors Relations
at (604) 664-0484 or toll free at 1-888-488-6882 or
please visit powerdirectinc.com e-mail:
ir@powerdirectinc.com
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: The statements contained
herein which are not historical fact are forward-looking
statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those
expressed in the forward-looking statements, including, but
no limited to, certain delays in testing and evaluation of
products and other risks detailed from time to time in Power
Direct, Inc.'s filings with the Securities & Exchange
Commission.
Contact:
Power Direct Inc., Vancouver
Jack Sha, 604/664-0484 |
