Tuesday September 12, 6:00 am Eastern Time
Press Release
Financial Intranet Subsidiary Announces Contract with Portal Site in China
MOUNT KISCO, N.Y.--(BUSINESS WIRE)--Sept. 12, 2000--Financial Intranet, Inc. (OTCBB:FNTN - news) today announced that its wholly-owned China subsidiary, E-Trend Technology Networks, has signed its first substantial contract with 21cn.com, a Chinese portal site.
This contract represents a minimum of USD250,000 on an annual basis, under which E-Trend Technology will provide both web development and programming (ASP) services to 21cn.com's clients. E-Trend is currently the only company working with 21cn.com in this area.
21cn.com is the seventh most popular site in China based on the CNNIC report. They began operations approximately one year ago and have had over 100,000,000 visitors since its inception. They are currently receiving 550,000 hits a day, which makes them the most powerful Internet presence in Southern China.
Michael Sheppard, President and CEO of Financial Intranet, Inc., stated, ``We are pleased that our investment in the China Internet market has begun to bear fruit so quickly. Our relationship with 21cn.com is extremely important as it provides a top-notch marketing alliance that gives us an entry into the booming Chinese market. We are continuing to build these relationships in China and expect the signing of this contract to be just the beginning of many as we complete our registration with the appropriate government agencies.''
Wilson He, Director of FNTN added, ``Our relationship with 21cn.com, which is part of Century Dragon Information Technology Co., Ltd., which in turn is a subsidiary of The Post and Telecom Administration Bureau of Guangdong, is a very strong relationship and will be, we anticipate, our launch into more contracts with other companies in China. The signing of this contract is not only a milestone of generating revenue, but also a symbol of acquiring potential cooperation in development of future business with the Telecom Administration.''
Tao Peng, Head Marketing Director of 21cn.com said, ``I am also very pleased to originate this relationship with E-Trend Technology Networks and look forward to expanding on our contract with them.''
SAFE HARBOR STATEMENT
Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts and expectations of Financial Intranet and E-Trend that may be referred to as ``forward-looking statements.'' Several important factors could cause actual results to differ materially from those in such forward looking statements and as an emerging technology company, FNTN and E-Trend could encounter unanticipated obstacles and delays in developing products, service offerings and markets.
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Contact:
Financial Intranet, Inc.
Corey Rinker, 914/242-4848
crinker@etrendgroup.com |
