CAOL news coverage at internet.com (INTM). Link --
asia.internet.com
USA.Net, CathayOnline To Offer
E-Mail In China
By Hans Lombardo
Managing Editor, asia.internet.com
[July 13, 1999--HONG KONG] Colorado Springs-based
e-mail provider USA.Net and CathayOnline Inc., a New
York company with investments in Chinese Internet
ventures, have formed a strategic partnership to make
USA.Net's e-mail outsourcing solutions available in
China.
Through it's holdings in China's Sichuan Province,
CathayOnline (OTC: CAOL) will distribute USA.Net's
professional messaging solutions in English and
Mandarin Chinese to businesses and consumers in
China.
"Both companies view China as a major international
email hub. The number of online users there are expected
to increase more than 300% this year," said John
Gerdelman, president and CEO of USA.Net.
"Through this agreement, CathayOnline's customers will
be the first to receive the latest in leading-edge email
technology, and USA.NET will continue to expand its
global presence in one of the world's fastest growing
email outsourcing markets," added Gerdelman.
To run the e-mail messaging service, CathayOnline
recently set up Torchmail.com Inc. which is based in
Sichuan's capital, Chengdu. Last month the company
acquired an interest in an ISP venture with Chengdu
Torch Industrial & Commercial General Company, one of
four government licensed ISPs in Sichuan.
"USA.Net is the ideal partner for CathayOnline in our
launch of TorchMail.com. This relationship empowers us
with the ability to deliver unparalleled email and advanced
messaging services to Chinese-speaking markets," said
Brian Ransom, president of CathayOnline Inc.
For its individual customers, CathayOnline plans to
bundle USA.Net's e-mail solutions with Internet access
and, for its corporate customers, the company will market
value-added email services as TorchMail by USA.Net.
In another project, CathayOnline is consolidating lottery
kiosks in China's Guangzhou Province hoping to set up a
lucrative online lottery business.
In the next year, the company plans to own 200 operating
lottery kiosks which it estimates will bring in between
US$1.75 million and US$2.25 million in income annually.
Since CathayOnline announced it's stake in the Sichuan
ISP venture last week, the holding company's
over-the-counter shares have risen to a three month high.
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