Tuesday March 14, 8:08 am Eastern Time
Company Press Release
SOURCE: Digital Gas, Inc.
Correction -- Digital Gas, Inc.
In NYM164, Digital Gas Subsidiary Qingdao Harbor Trading in Agreement with CPPCC Qingdao City Committee, moved
yesterday, March 13, we are advised by the company that the contact information should read, "Richard Calderhead of Digital
Gas, 212-673-3920" rather than "214-673-3920" as originally issued. The stock symbol for Digital Gas, Inc., was incorrectly
stated by PR Newswire as being listed on the OTC Bulletin Board. The company is listed on Pink Sheets under the ticker
symbol DIGG. The complete, corrected release follows:
Digital Gas Subsidiary Qingdao Harbor Trading in Agreement with CPPCC Qingdao City Committee
NEW YORK, March 13 /PRNewswire/ -- Digital Gas, Inc. (DIGG - Pink Sheets) today announced that its newly formed subsidiary, Qingdao Harbor Trading
Company, Inc., (``Qingdao Harbor Trading') has signed an agreement with the service department for office CPPCC Qingdao City Committee (``CPPCC Qingdao').
Under the agreement signed today, Qingdao Harbor Trading will provide general Internet services; establish an electronic exchange for the individual consumer and
business markets and directly facilitate export-imports between Qingdao City, the Greater Qingdao Area, Shandong Province and the West. The company's specific goal
is to act as the medium between Chinese factories wishing to sell goods to the western world and factories, distributors and end users desiring to purchase these goods.
To expand the company's business even further, it will in select situations also purchase directly from the manufacturer and act as a direct distributor to the west.
Qingdao Harbor Trading will also establish and maintain an advanced Internet site for CPPCC Qingdao.
In the agreement CPPCC Qingdao has agreed to assist Qingdao Harbor Trading to achieve its goals in Qingdao City, the Greater Qingdao Area and in Shandong
Province. Specifically, it will assist Qingdao Harbor Trading in signing up corporate and other clients for its Internet service, electronic exchange and export-import
businesses in the abovementioned areas.
The CPPCC is an organization of the united front, composed of the Communist Party, other non-communist parties, personage without party affiliation, representatives
of mass organizations and ethnic minorities, and representatives of Hong Kong, Macao and Taiwan compatriots and overseas Chinese. The CPPCC conducts political
consultations on major state policies.
The Qingdao Harbor Trading Company subsidiary of Digital Gas has signed 2-year agreements with more than 100 manufacturing, consumer products, electronics,
chemical, and other companies to create a web-based electronic exchange. Qingdao Harbor has been named a ``most favored distributor' and the Chinese partners will
showcase their goods and services on the new exchange.
When launched in the second quarter of this year, the new Internet site, qingdaoharbor.com, will be powered by U-Know Software Corporation's leading product
information search technology (shopping bot), which can be accessed at shopbest.com. U-Know, which has a 20% interest in Qingdao Harbor Trading
Company, is a technology company focused on unique web merchandising solutions. U-Know Software developed one of the first comparison-shopping engines, as well
as an early merchandise transaction system with an integrated shopping cart. The product information search engine uses advanced parallel processing techniques
combined with an innovative agent that provides for true real-time results for the most accurate and up-to-date product information available. Additionally, maintenance
of existing sites and the integration of new sites, along with their respective inventories, are almost automatic and require no programming, which significantly reduces
overall costs.
Simon Lin, Founder and CTO of U-Know Software, said, ``Qingdao Harbor Trading Company is doing it properly in China by dealing directly with the government and
not seeking to impose content and commercialization into their relationships and business in China. Qingdao Harbor's business practices may very well become the model
for western companies seeking to do business in this industry in China. We at U-Know Software are dedicated to making Qingdao Harbor Trading the premier real-time,
B2B electronic exchange in Asia,' he said.
Digital Gas is presently finalizing negotiations for an acquisition in the B2B area, an investment banking relationship and strategic alliances to augment its present
business opportunities in China.
SOURCE: Digital Gas, Inc. |
