CAOL: The Chinese AOL and Internet Lottery Message Board

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Non-Tech : CAOL: The Chinese AOL and Internet Lottery

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To: James P who wrote (640)	10/6/1999 11:45:00 PM
From: James P	Read Replies (1) of 720

NEWS Wednesday October 6, 10:25 am Eastern Time Company Press Release CathayOnline Appoints New Director and CFO NEW YORK--(BUSINESS WIRE)--Oct. 6, 1999--CathayOnline Inc. (OTC BB:CAOL) is pleased to announce the appointment of Owen Li to Director, and the appointment of Peter S. Lau to Chief Financial Officer. Today CathayOnline announced the appointment of Owen Li to the position of Director, CathayOnline Inc. Prior to this appointment, Li was the President of the CathayOnline ISP project in China: Sichuan CathayOnline Technologies Co. Ltd. In this capacity, he specialized in technology planning and business development in computers and telecommunications. CathayOnline Inc. is pleased with his acceptance of the new appointment. Today Peter S. Lau accepted the appointment of Chief Financial Officer with CathayOnline Inc. In addition to being a former principal of a CPA firm in New York, he also worked for Deloitte & Touche, CPA. Lau has more than 20 years professional experience in the financial market, and has held numerous positions of prestige for companies operating on Wall Street and in the Asian markets. His credentials and career path are a valued asset to CathayOnline Inc. The continued expansion of CathayOnline's Internet services, propels the Company further toward its goal of becoming a leading, fully diversified Internet company targeting Chinese-speaking markets in the People's Republic of China. Their substantial participation in and development of the Lottery Industry in China, confirms CathayOnline's commitment to business ventures with significant cash flow opportunities and established management. CATHAYONLINE INC. On Behalf of the Board of Directors Brian Ransom, Director Good Luck To All Jim

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