Agency Agreement Signed With Beijing Telecom And Others
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NASD OTCBB: "XNET"
VANCOUVER, Dec. 16 /CNW-PRN/ - The board of directors of Xin Net Corp, is
pleased to announce the following developments:
ChinaDNS.com has signed agreements with more than one hundred agents to
sell its domain name registration services in China. Amongst these are several
local telecom companies, including Beijing Telecom and Luo-Yang Telecom, which
have moreover adopted and purchased the proprietary ChinaDNS platform.
ChinaDNS has registered over 13,000 domain names, making it one of the largest
online domain name registration services in the country.
Xinnet.com.cn has been awarded a nationwide access number. It now owns the
five digit 95777 number which has become the standard access number for all
Xinnet subscribers regardless of the city they are in. The Ministry of
Information Industry (MII) only grants a limited supply of such numbers which,
besides the prestige they confer, constitute a strong selling point. Xinnet
users also enjoy a substantial discount from the normal telephone usage
charges.
The Commercial and Industrial Bank of China has signed an agreement to
collect payments from Xinnet customers through its network of more than 500
branches scattered across Beijing. This agreement constitutes yet another
important step in Xinnet's continuous effort to improve customer service.
Xinnet has also begun a series of special promotions to increase sales of its
prepaid Internet access card, the Instant Card, and recognition of the Xinnet
brand name.
Xinnet provides Internet access and content (www.xinnet.com.cn), online
domain name registration (www.ChinaDNS.com) and online auction
(www.xinbid.com). It currently operates in Beijing, Guangzhou, Shanghai and
Shenyang and has ISP licenses for six (6) other Chinese cities. Its subscriber
base has presently exceeded the milestone number of 50,000 (including domain
name registrants) and it has approximately 150,000 e-mail accounts.
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- 12/16/1999
/CONTACT: Marc Hung, President or Ernest Cheung, Secretary, Telephone:
604-632-XNET (9638), Facsimile: 604-689-7654, Home page: www.xinnet.net,
E-mail: investors@xinnet.net/
(XNET)
CO: Xin Net Corp.
ST: British Columbia
IN: MLM
SU: CON |
