CHINA + PAGERS = AVIC Message Board

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Strategies & Market Trends : CHINA + PAGERS = AVIC

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To: hoyasaxa who wrote ()	9/22/1996 8:17:00 PM
From: hoyasaxa	of 53

NEW YORK, Sept 20 (Reuter) - AVIC Group International Inc said on Friday that China's Hainan Minyuan Modern Agriculture Co will become the beneficial owner of 45 percent of AVIC's common stock. Hainan Minyuan obtains the stake as part of its acquisition of <Beijing CATCH Communication Group Co>, the second largest paging company in China and previously the largest beneficial shareholder of AVIC stock, AVIC said. The acquisition has received all necessary governmental approvals and is expected to close on October 21, 1996. Hainan Minyuan shares are traded on the Shenzhen Stock Exchange and the company's current market capitalization is approximately $800 million, ranking it among the top 50 of China's public companies. AVIC Group International Inc develops and finances telecommunications networks in the People's Republic of China, including paging, cellular and fixed-wire telephon service. Rtr 12:11 09-20-96 (Eastern Standard Time)

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