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TIPS Chinamalls.com Traffic Hits Record High
NEW YORK, Nov. 23 /PRNewswire/ -- Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS), announced today that its wholly owned subsidiary Chinamalls.com, Inc. (http://www.chinamalls.com) has reached a new level in terms of traffic to its web site. Presently the web site is attracting an average of 30,000 visitors per day, which is more than double the average daily traffic from the previous quarter. Last week, the mall recorded 40,000 hits in one day, an all time high. Chinamalls.com, Inc. has over 2,700 items for sale in 16 different categories. Shoppers can view the site in either English or Chinese.
TIPS presently owns an additional three Internet related companies. (1) A-Web Internet Services (http://www.aweb.com). Established in 1995, A-Web Internet Services is one of the leading Internet Service Providers in New York City. A-Web provides a whole range of Internet access and services, including dedicated ISDN lines and even higher speed digital T1 lines. (2) AAAMALL.net, Inc. (http://www.aaamall.net), an online shopping site, featuring the nation's leading retailers and thousands of products. (3) Chongqing Word Technologies Co., Ltd. (http://www.wordtech.com.cn), a Mainland China based Internet service provider and e-commerce developer. Chongqing Word Technology Co., Ltd. presently has over forty thousand (40,000) mainland China merchants as customers.
In other related news, yesterday TIPS announced that it will spin off one of its four Internet companies before the end of 1999. The spin off will be accomplished by means of a Rights Offering to existing TIPS shareholders. Further details, such as which Internet company will be spun-off and other offerings information will be disclosed in the first week of December.
James Tilton, President of TIPS stated, "When we first acquired Chinamalls.com, Inc., I was disappointed with the lack of enthusiasm from our shareholders and the investment community. However, no one can deny the performance of Chinamalls and the future certainly looks bright."
For further information contact investor relations at 800-324-3464 or visit tipsstock.com .
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Security Exchanges Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Tianrong Internet Products and Services, Inc. to accomplish its stated plan of business. Tianrong Internet Products and Services, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Internet Products and Services, Inc. or any other person that the objectives and plans of Tianrong Internet Products and Services, Inc. will be achieved.
SOURCE Tianrong Internet Products and Services, Inc.
CO: Tianrong Internet Products and Services, Inc.; Chinamalls.com, Inc.
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