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Non-Tech : CAOL: The Chinese AOL and Internet Lottery

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To: Eric Humphrey who wrote (710)2/23/2000 9:41:00 AM
From: Eric Humphrey   of 720
 
2/23/00 a.m. news release
Investor Relations
CathayOnline Inc.
Tel: (604) 688-1844

February 23, 2000
New York, New York

NEWS RELEASE
CATHAYONLINE INC.

(OTC BULLETIN BOARD - SYMBOL "CAOL")

CATHAYONLINE APPOINTS KENNETH LEVY AS DIRECTOR
www.cathayonline.com

NEW YORK-Feb 23--CATHAYONLINE INC. is pleased to announce the Company has
appointed Mr. Kenneth Levy to the Board of Directors.
Mr. Levy, with broad international experience in investment banking,
marketing, retailing and the Internet, is currently the president of a
development firm specializing in Internet related companies. He has
served as
director of a number of publicly traded companies, and he has been the
Senior
Managing Director of a New York investment banking and brokerage firm. In
addition, Mr. Levy's accomplishments include: president of an
investment-banking firm; president and a founder of a firm which invested
in
and developed businesses in the Soviet Union; and, president and founder
of a
21 store specialty clothing chain.

About CathayOnline
CathayOnline is aggressively striving to become a leading
fully-diversified
Internet company targeting Chinese-speaking markets of the world, with
primary
focus in the People's Republic of China. Through key acquisitions, joint
ventures, and prestigious international and domestic alliances, the
Company is
facilitating the delivery of unparalleled products and services in two
high
growth areas: (1) Internet connectivity; and, (2) email and advanced
Internet
communication services. More information can be obtained about
CathayOnline
by visiting cathayonline.com.

CATHAYONLINE INC.
For further information contact Barbara Manui of:
HOWARD BRONSON & ASSOCIATES at (212) 867-6160
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