(COMTEX) B: CBQ, Inc. Plans Name Change to 1st in China, Inc.
B: CBQ, Inc. Plans Name Change to 1st in China, Inc.
ADDISON, Texas, May 16, 2000 (BUSINESS WIRE) -- CBQ, Inc. (OTCBB:CBQI) The
E-Business Marketplace plans to change its name to 1st in China, Inc. to reflect
the company's increasing focus on China. The name change is subject to
shareholder approval.
New corporate headquarters will be 1919 Pennsylvania Avenue, N.W., Washington,
D.C., with representative offices in Beijing and Hong Kong through Chung Hua
Wireless Internet Limited.
1st in China, Inc. subsidiaries are: ChinaSoft, Inc, a software developer in
China; China Wireless, Inc., which is developing the wireless Web for China;
China Partners, which is developing an online trading portal for China; Reliance
Technologies, focused on Web development and hosting; Tophernet, a regional ISP
located in Dallas, and Priority One Electronic Commerce Corporation, an
e-payment solution provider.
"The 1st in China, Inc. name reflects our pioneering and increasingly intense
focus on the Chinese market," explained Bart S. Fisher, Chairman, CBQ, Inc.
"There is no other publicly traded vehicle that has the scope and breadth of our
efforts there."
Fisher says a key component of the 1st in China, Inc. mission is to give the
public an opportunity to invest in a company that will lead the way in
developing international trade and investment opportunities with the People's
Republic of China as it achieves Permanent Normal Trading Relations with the
United States and accedes to the World Trade Organization.
1st in China, Inc. claims to be the business-to-business (B2B) gateway between
the United States and China, offering B2B portal services and a full complement
of trade and commerce portals. The company expects the B2B market to be much
larger than the business-to-consumer transactions market.
"China is the fastest growing and most exciting international market in the
world today," Fisher added. "As the world's most populous country, China has the
potential to be the world's largest economy. We intend to be the dot.com company
for China."
Fisher has 28 years background in United States-Chinese trade and investment,
and will bring this experience and strong management skills to 1st in China,
Inc. He is currently Council for the Ministry of Foreign Trade and Investment of
the People's Republic of China in Washington, D.C.
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 www.ccsoft.com.cn. 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.
CONTACT: VGS Marketing Group, Inc.
Valerie Gabriel-Swenson, 972/395-9034
vgs@onramp.net
or
CBQ, Inc.
John Harris, 972/732-1100
investors@cbq.com
or
China Partners, Inc./ChinaSoft, Inc./Capital House, LLC
Joan Worden, 202/337-5411 or 202/342-8113
wnsgl@aol.com
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