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To: SSP who wrote (61961)9/6/2000 8:50:52 AM
From: SSP  Read Replies (2) of 150070
 
TMPS - Temple Summit Financial Projects Inc. Files Audited Financial Statements and Announces Name Change
 

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Sept. 6, 2000--Temple Summit
Financial Projects Inc. (OTCBB:TMPS) announced that the company has
filed Form 8-K/A with audited financial statements of Beijing Wintech
Technology Co., Ltd., which was recently acquired by Temple Summit.
The financial statements were audited by Deloitte Touche Tohmatsu, one
of the largest accounting firms in the world. According to the
financial statements, the revenue grew from 4,379,682 Yuan in the year
ended June 30, 1999 to 7,720,004 Yuan ($932,593 US Dollars) in the
year ended June 30, 2000, and the net profit more than doubled from
1,212,827 Yuan in the year ended June 30 to 3,215,231 Yuan ($388,407
US Dollars) in the year ended June 30, 2000.
Mr. Yonghong Dong, the president Temple Summit and Wintech,
commented: "Wintech is still a young company. With very limited
resource and no outside funding, we have been working very hard to try
to meet the demand on our products and services. We expect that the
revenue and net profit will continue to grow at the high rate. If we
succeed in raising funding from the capital market, we are confident
that we can achieve even higher, explosive growth rate."
The company also announced that it has changed its name from
"Temple Summit Financial Projects Inc." to "Wintech Digital System
Technology Corp." "Beijing Wintech Technology Co., Ltd." is still the
name of the company's subsidiary in Beijing.
DSP (digital signal processing) is the core technology in the
digital age. Its role is equivalent to the role of the CPU technology
in PC era. DSP technology will be widely used in many fields,
including networking, telecommunication, artificial intelligence and
digital appliances.
Wintech Digital System Technology Corp. is the leading DSP
product, solution and service provider in China. The company has
developed a complete series of DSP development tools. Targeting
several areas in the information industry, the company has developed
different DSP solutions, including multi-user object board,
multi-algorithmic function library, and application procedure library.
It is currently developing DSP solutions for telecommunication
network, including solutions for ADSL (Asymmetric Digital Subscriber
Loop), IP LAN Phone and Software Radio, a general purpose wireless
communication signal processing hardware platform that can be
programmed to function as different communication systems such as GSM,
CDMA or IMT2000.
Statements in this news release that are not historical facts,
including statements about plans and expectations regarding products
and opportunities, demand and acceptance of new or existing products,
capital resources and future financial results are forward-looking.
Forward-looking statements involve risks and uncertainties which may
cause the company's actual results in future periods to differ
materially from those expressed. These uncertainties and risk include
changing consumer preferences, lack of success of new products, loss
of the company's customers, competition and other factors discussed
from time to time in the company's filings with the Securities &
Exchange Commission. No securities regulatory authority has approved
or disapproved of the contents of this news release.

--30--LS/na*

CONTACT: Wintech Digital System Technology Corp.
Yonghong Dong, (0118610) 62639212
Email: info@dspchina.com
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