(BSNS WIRE) CBQ, Inc. & Wanlitong Information Network to Develop Wireless I
CBQ, Inc. & Wanlitong Information Network to Develop Wireless Internet Network
in Southern China
Business Editors & High Tech Writers
HONG KONG, SHENZHEN, China and ADDISON, Texas--(BUSINESS
WIRE)--April 17, 2000--CBQ, Inc. - The E-Business Marketplace
(OTCBB:CBQI) announced today that it has reached an agreement to
develop a two-way paging wireless Internet network in South China with
Wanlitong Information Network(TM) of Shenzhen, China
(http://www.95960.net). CBQ, Inc. has also been named the Wanlitong
Information Network agent for companies outside China wishing to work
with this network.
CBQ, Inc. has formed China Wireless, Inc. to support the
deployment of the wireless web network for China. China Wireless, Inc.
and its financial partners will provide capital and technology to
complete the rollout of the Wanlitong Information Network in five
cities in southern China: Guangzhou, Fuoshan, Dongguan, Zhongshan and
Zhuhai. China Wireless, Inc. will own 49 percent of Chung Hua Wireless
Internet Limited, with greater amounts of equity participation as
China completes its accession to the World Trade Organization (WTO).
In addition, Wanlitong Information Network has agreed to
contribute its existing Shenzhen-based operation into Chung Hua
Wireless Internet Limited. Chung Hua Wireless Internet Limited is a
wholly-owned subsidiary of the Wanlitong Information Network.
Wanlitong Information Network already operates its own one-way
paging network that provides services for over 1.3 million
customers. They use equipment from GWcom to deliver two-way paging
service 24 hours a day 7 days a week, including stock trading, stock
quotes, news, weather, sports and travel information.
Over 90 percent of Wanlitong Information Network existing
two-way customers use this service to process stock trades daily.
These trades are processed through strategic relationships with GF
Securities Co., LTD, Shantou Securities Co., LTD, Shenzhen Special
Zone Securities Company and other stock trading companies in Shenzhen
and other cities. The Southern Chinese cities covered represent a
market of some 18 million people, including 5.5 million stock traders.
Wanlitong Information Network began distribution of two-way pagers
in Shenzhen in February of 2000. The company will roll out the two-way
pager network with Internet access to 10 cities in China over the next
twelve months, and to 85 additional cities in China thereafter.
"China will be a major market for the wireless web," said Bart S.
Fisher, Chairman, CBQ, Inc. "Through our exclusive agreement with
Wanlitong, we will be able to establish a service that will benefit
not only Chinese stock trading companies, but also U.S. stock
brokerage houses such as Charles Schwab and Co.(NYSE:SCH), Merrill
Lynch (NYSE:MER) who are wanting to make it easier for Chinese
investors to participate in the global securities market," Fisher
said.
"We are confident that CBQ, Inc. will be the right strategic
partner to allow Wanlitong to assume a major role in the Chinese
wireless Internet market," said Wu Zhao Hui, Vice General Manager of
Wanlitong Information Network.
About CBQ, Inc.: 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 a joint-venture partner with CCSoft Technology Developing,
Ltd. (formerly, Beijing Zhongruan Zhixun Technology Developing Co.).
Services include Software Development for Enterprise computing and
Internet Development. For more information about CCSoft, visit China
Partners, Inc. is a wholly-owned subsidiary of CBQ, Inc. that focuses
on facilitating trade and investment opportunities between companies
in the United States and Chinese through its trade portal,
Chinapartners.net. For more information on CBQ, Inc., 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--LS/na*
CONTACT: CBQ, Inc.
John Harris, 972/732-1100
investors@cbq.com
or
VGS Marketing Group Inc.
Valerie Gabriel-Swenson, 972/395-9034
vgs@onramp.net
or
China Partners, Inc./ChinaSoft, Inc./Capital House, LLC
Joan Worden, 202/337-5411 or 202/342-8113
wnsgl@aol.com
KEYWORD: TEXAS INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: INTERNET NETWORKING TELECOMMUNICATIONS
MARKETING AGREEMENTS
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