A very positive announcement!! XNET's relationship with IBM and it's domain registration service really establish credibility to the company. XNET looks better than ever!
Wednesday July 7, 8:59 am Eastern Time
Company Press Release
SOURCE: Xin Net Corp.
Xin Net Corp. Issues Update
VANCOUVER, British Columbia, July 7 /PRNewswire/ -- XIN NET CORP. OTC Bulletin Board Symbol: ''XNET''
Further to the announcement of May 20, 1999 Xin Net Corp. wishes to announce the following:
1. The Company's operating arm in China, Xin Hai, has been granted
Internet licenses in six new Chinese cities. They are Guangzhou
(formerly Canton), Dalian, Nanjing, Wuhan, Chengdu and Xian.
Together with Beijing, Shanghai, Shenyang and Taiyuan, Xin Hai now
has licenses for ten major cities with a combined population of
about 80 million. Geographically, Xin Hai has enough cities to form
a major national ISP company.
2. After a month of pre-opening sales and marketing, Shanghai office is
fully operational as of July 1, 1999. Following Shanghai and
Taiyuan, management plans to open Guangzhou, the key city in
Southern China. The number of employees has grown to 75, including
15 that have been especially recruited from the IT industry to
reinforce the sales & marketing team.
3. The Company is pleased to report that it is now offering domain name
registration services. It has recently incorporated the website
www.chinadns.com , the first in China to offer online site
registration. Xin Hai also provides web hosting and web page design
services.
4. Xin Hai has been awarded "Strategic Partner" status from IBM
China. This status officially identifies Xin Hai as an OEM for IBM
hardware and software including Netfinity servers, PC's,
Intellistation Work Stations, ThinkPad, Aptiva Multimedia PC's and
all related products. Xin Hai now has the right to use IBM in its
advertising and promotional material, and receive special support
and training from IBM. This is recognition from IBM of Xin Hai
position in the China Internet market.
Xin Hai is an Internet Service Provider (ISP) and Internet Content Provider (ICP) that has more than 25,000 subscribers. Xin Hai is currently offering a free ''flea market'' E-Commerce product to its subscribers. An expanded fee and commission based service will be made available shortly.
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. Xin Net 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
SOURCE: Xin Net Corp.
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