CBQI NEWS!!! CBQ, Inc. Affiliate ChinaSoft Launches Internet Service Provider Network in
China
Business Editors & High-Tech Writers
BEIJING, China and ADDISON, Texas--(BUSINESS WIRE)--Jan. 25,
2000--CBQ, Inc. (OTC BB:CBQI) affiliate ChinaSoft announced today its
pending launch of an Internet Service Provider network in the People's
Republic of China. ChinaSoft's local partner for the venture is
Beijing Zhongruan Zhixun Technology Development Co., Ltd., which has
received approval for this project. The potential for this project
exceeds 15 million potential subscribers in the 21 largest cities in
China, including Beijing, Shanghai, and Guangzhou.
The initial service that has been authorized includes special
access telephone numbers and dedicated access in the three major
markets authorized by the recently announced World Trade Organization
("WTO") agreements. This infrastructure foundation will allow
ChinaSoft to build the next-generation IP network to support scalable
internet access and IP-enabled products to the three largest consumer
and business markets in China.
CBQ's affiliate ChinaSoft and its joint venture partner Beijing
Zhongruan Zhixun Technology Development Co., Ltd. will assist in the
architecture of China's next-generation Internet infrastructure. "This
deal is representative of the technology and business opportunities
that the WTO provides for U.S.-based companies," said John Harris, CEO
of CBQ, Inc. "We will be providing the conduit for U.S. companies in
designing and implementing the technology foundations that will be
required to bring Internet access and IP data products to China,"
Harris said.
"China may be the largest market in the world for the Internet by
2010," said Bart S. Fisher, Chairman of ChinaSoft. "It is our
intention to be a major factor in that market, bringing the potential
personal and business usage of the Internet to China's 1.3 billion
people. We are now positioned to take advantage of the WTO concessions
agreed to by China and the United States in November, 1999."
"It is our pleasure to work with CBQ and ChinaSoft on this
exciting venture," said Chang Guomin, Chairman of Beijing Zhongruan
Zhixun Technology Development Co., Ltd. "As China enters the new
millennium we must be prepared to maximize the potential provided by
the Internet to better the education and welfare of our people."
About ChinaSoft, Inc.
ChinaSoft, Inc. is a wholly owned subsidiary of CBQ, Inc. that is
affiliated with Beijing Zhongruan Zhixun Technology Development Co.,
Ltd. Services include Software Development services for Enterprise
computing and Internet Development Services.
About CBQ
CBQ, Inc. The E-Business Marketplace is a total end-to-end
provider for implementing customer driven e-business solutions.
Through its subsidiaries, Reliance Technologies, Inc. and Priority
One Electronic Commerce Corp. it can design, implement, host, build
traffic and process payments for its customers' e-business
initiatives. ChinaSoft, Inc. is a wholly owned subsidiary of CBQ,
Inc., that is affiliated with Beijing Zhongruan Zhixun Technology
Development Co. Services include Software Development services for
Enterprise computing and Internet Development Services. China
Partners, Inc. is a wholly owned subsidiary of CBQ, Inc. Its primary
focus is facilitating trade and investment opportunities between U.S.
and Chinese companies through its trade portal Chinapartners.net.
For more information, visit www.cbq.com
This news release includes forward-looking statements related to
CBQ, Inc. that involve risks and uncertainties, including, but not
limited to, quarterly fluctuations in results, the management of
growth, market acceptance of certain products and other risks. These
forward-looking statements are made in reliance on the "safe-harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
For further information about these factors that could affect CBQ's
future results, see the company's filings with the Securities and
Exchange Commission (the "Commission"). Prospective investors are
cautioned that forward-looking statements are not guarantees of future
performance. Actual results may differ materially from management
expectations.
--30--SL/na*
CONTACT: VGS Marketing Group, Inc.
Valerie Gabriel-Swenson, 972/395-9034
(Direct Line, 972/741-4400)
vgs@onramp.net
or
China Partners, Inc./ChinaSoft/Capital House, LLC
Joan Worden, 202/337-5411 or 202/342-8113
or
CBQ, Inc.
John Harris, 972/732-1100
investors@cbq.com |
