Another HUGE DAY for XNET: Xin Net Corp.; Groome Capital Initiates Research Coverage of Xin Net With Speculative Buy Rating...
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 5, 2000--The
board of directors of Xin Net Corp. is pleased to announce that Groome
Capital, Canada's first full service Investment Dealer online, has
initiated coverage of the Company. In a report issued yesterday,
Groome Capital research analysts Chris Bonnet and Clarence Rebeiro
wrote "Xin Net Corp....is poised to become a major player in the
booming Chinese Internet Market" and "...we believe that XNET could
become one of the premiere Internet success stories in China over the
next few years."
They recommended XNET as a "Speculative BUY." The research report
appears in January 4th To-day's Capital Ideas section of
www.groomecapital.com website.
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 reached 68,000 (including
domain name registrants) and it has approximately 200,000 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
--30--bf/cgo* bpm/cgo
CONTACT: Xin Net Corp.
Marc Hung, 604/632-XNET (9638)
Fax: 604/689-7654
investors@xinnet.net
URL: www.xinnet.net |
