CEU - China pager and emerging IDC Message Board

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Gold/Mining/Energy : CEU - China pager and emerging IDC

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To: John Fairchild who wrote ()	12/29/1999 1:26:00 PM
From: John Fairchild	Read Replies (1) of 26

NR - Internet License done deal. NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: CONCEPT INDUSTRIES INC CDNX SYMBOL: CEU OTC Bulletin Board SYMBOL: CPIXF DECEMBER 29, 1999 Concept Industries Inc. Announces China Internet License Secured and Paging Subscribers Exceeds Projections VANCOUVER, BRITISH COLUMBIA--Further to its news release announced on November 22, 1999, Concept Industries Inc. (the "Company") is pleased to report that its company personnel has finalized the terms to include an Internet License as part of the Company's Paging Joint Venture in Shandong Province in the People's Republic of China ("China"). With the acquisition of the Internet License, preparation has commenced for the provision of e-mail access via the Internet for subscribers utilizing Chinese character pagers and to include other e-commerce applications. Management further plans to integrate new paging technology to provide 2-way paging to its pager subscribers. The Company's paging joint venture is with a subsidiary company of the Shandong government. This is the second largest paging network in the province operating in 13 cities that covers a population of 69 million people. The paging network currently has 330,000 subscribers, which are 30,000 in excess of original projections. Based on the present growth rates and further expansions of four more cities to cover 86 million people in the province, in the next year the total subscribers are expected to exceed 500,000 with projected gross revenues of US$25 million by the end of 2000. Company management will be leaving for China in January of 2000 to follow up its paging/Internet initiatives. They are also scheduled for meetings in Beijing with the Beijing Jitong Telecommunication Corp. A memorandum was signed earlier this month with the Beijing Jitong Telecommunication Corp. for a joint venture to establish and operate Internet Data Centers in China. CONCEPT INDUSTRIES INC. William Jung, President This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor provisions of these sections. Actual results may differ materially from the expectations and estimates of the Company. -30-

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