XNET BULLISH NEWS: it Launches the 1st on-line Auction in China...
Xin Net Corp. (XNET) Launches Online Auction Site
VANCOUVER, Sept. 14 /CNW-PRN/ - The Board of Directors of Xin Net Corp. is
pleased to announce that the Company has launched its new auction site
www.xinbid.com, serving Chinese speaking customers in China, Hong Kong, Taiwan
and around the world. The site was unveiled in Beijing, on Monday September
13, 1999 by Mr.Jake Wei, president of Xin Hai Technology Development Ltd., the
Company's operating arm in China, at a press conference held for
representatives of various media and the IT industry.
XINBID.COM is the first online live auction site in China. It resides on a
network of powerful IBM Netfinity servers, each capable of handling 64,000
concurrent customer connections. The Company anticipates that the newly built
installation will easily accommodate sustained customer growth for a long time
without a need for any significant addition of equipment. The new online
auction business complements the Company's existing ISP (Internet Service
Provider), ICP (Internet Content Provider) and Chinadns (online Domain Name
Registration) businesses. The Company is also involved in discussions with
other IT companies to enhance its services to its subscribers.
Furthermore, the Company's operating arm in China, Xin Hai, is in the
process of installing Alcatel digital equipment which will help the Company to
cope with a substantial growth in its ISP subscribers in the future. Xin Hai
presently operates in Beijing, Shanghai and Shenyang; it also holds ISP
licenses to operate in seven other major Chinese cities. With the addition of
XINBID.COM, it is well positioned to be a leading Internet company in the
burgeoning Chinese market.
Any forward-looking statement in this press release is made pursuant to
the ''safe harbor'' provisions of the Private Securities Litigation Reform Act
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
SOURCE Xin Net Corp.
-0- 09/14/1999
/CONTACT: Marc Hung, President or Ernest Cheung, Secretary, Telephone:
604-632-XNET (9638), Facsimile: 604-689-7654, Home Page: www.xinnet.net,
Operating Web Sites: www.chnmail.com, www.xinnet.com.cn, www.chinadns.com,
www.xinbid.com/
(XNET) |
