************WE HAVE NEWS**************************
TorchMail.com Online With Banner Advertising www.cathayonline.com
NEW YORK, Sep 23, 1999 (BUSINESS WIRE) -- CATHAYONLINE INC. (OTC
BB:CAOL) is pleased to announce the completion of the Advertising
Agreement between its subsidiary, TorchMail.com and The Murjan Group.
The agreement with the Murjan Group comes in conjunction with the
unveiling of banner advertising now available at TorchMail.com's web
site; www.torchmail.com.
TorchMail.com expects to initially derive their advertising revenues
from North America, and will eventually gear toward Asia as online
advertising continues to expand in the Pacific Rim. In a recent report
by Forrester Research, online advertising spending was predicted to hit
US $33 billion by the year 2004. While the USA accounts for the
majority of this expenditure, one third will be generated outside of
the USA - a figure that is expected to grow from US $502 million this
year, to US $10.8 billion in 2004.
TorchMail.com has recently entered into a number of letters of intent
to offer their e-mail services to high profile Chinese Portals in
China. These agreements would, if finalized, become available with the
launching of the Chinese version of TorchMail.com. The Company expects
advertising and advertising revenue to grow exponentially with the
expansion of their free e-mail services in Asia. Presently, China uses
the Internet primarily as a tool for business and trade. With an
estimated 4 million users already in place, usership is expected to
surpass 10 million in the year 2000. China has the fastest growing
Internet use in Asia; its online community is second only to the United
States.
TorchMail.com working with USA.NET offers Professional Messaging as
standard features. TorchMail.com Professional Messaging is accessible
from virtually anywhere worldwide, connecting travelling employees,
branch offices and dealer/distributor networks.
The continued expansion of CATHAYONLINE INC.'s Internet services,
propels the Company further toward its goal of becoming a leading,
fully diversified Internet company targeting Chinese-speaking markets.
CATHAYONLINE INC.
On Behalf of the Board of Directors Brian Ransom, Director Statements
included in this press release which are not historical in nature, are
intended to be, and are hereby identified as "forward-looking statements"
for purposes of the safe harbor provided by Section 21E of the Securities
Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking
statements may be identified by words including "anticipate", "believe,"
"intends," "estimates," "expect," and similar expressions. The Company
cautions readers that forward-looking statements, including without
limitation, those relating to the Company's future business prospects are
subject to certain risks and uncertainties that could cause actual results
to differ materially from those indicated in the forward-looking
statements. More information can be obtained about CathayOnline by
visiting the sites cathayonline.com , and
torchmail.com
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
CONTACT: Worldvision Financial, Casselberry, Fla.
Susan Kough
Tel: 1-888-345-6060, 1-407-834-8944
or by visiting wvfg.com
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK INTERNATIONAL ASIA PACIFIC
INDUSTRY CODE: COMED
INTERACTIVE/MULTIMEDIA/INTERNET
ENTERTAINMENT
GAMING
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