Global Light Telecommunications Subsidiary NeTrue Establishes Joint Venture With Chinese Telecommunications Company
November 24, 1998
VANCOUVER, British Columbia--(BUSINESS
WIRE) Global
Light (VSE:GGB.U)(AMEX:GBT) is pleased to
announce that NeTrue Communications, Inc.,
has entered into a joint venture with the
largest telecom equipment provider in China.
In confirmation of articles regarding the
agreement in "Communications Weekly" of
November 4, 1998, and in "China Computer
World" dated November 5, 1998, the joint
venture agreement with Tangsheng
Investment and Development Co., Ltd. (an
affiliate of Shanghai Bell) provides NeTrue
with the opportunity for the development of
comprehensive IP Telephony offerings with
China's largest telecom equipment provider.
In addition to providing an excellent market
for NeTrue's existing products, the joint
venture will develop a carrier-grade,
large-port capacity, scaleable IP phone
switch, based on NeTrue's IP telephony
expertise.
Among the distinguished guests attending
the joint venture signing ceremony recently
held in China, were the Director General of
the Ministry of the Information Industry (MII)
of China; a Vice President of China Telecom;
Deputy Director General of the Data Bureau
of China Telecom; and Managing Directors of
the Provincial Telephone Authorities from
Jiangsu, Zhejiaang, Shandong and Tianjung
Provinces.
The joint venture relationship should enable
NeTrue Communications to penetrate the
rapidly developing Chinese market. The
Chinese market is one of the world's largest
and fastest growing, with the highest number
of paging users, the second largest switch
capacity, and finally, the third largest
subscriber base for mobile phones. This
market is expected to add in excess of 20
million lines to its public switched telephone
network (PSTN) in the coming year. This is
approximately equal to the total PSTN
capacity of Canada today.
Commenting on the joint venture, James
Shen, President and CEO of NeTrue
Communications stated, "By cooperating with
China's leading telecom equipment
manufacturer, a China Telecom company,
NeTrue is in an excellent position through our
two wholly owned subsidiaries in China to
serve China Telecom by providing IP
Telephony solutions."
Dr. Tom Sawyer, Chairman of NeTrue and a
Director of Global, added, "The complement
of NeTrue's IP based telephony products, in
conjunction with the development of a
scaleable high port capacity IP based switch,
places NeTrue in the envious position of
being able to market its products into the
fastest growing telecom market in the world.
Further, the joint venture will enable NeTrue
to synergistically leverage the Global Light
family of companies expertise and
experience, and layer additional
state-of-the-art service offerings into this
market."
Global Light is also pleased to announce it
has acquired an additional 4 percent equity
interest in NeTrue pursuant to the original
share purchase agreement. The additional
ownership in NeTrue raises Global Light's
equity ownership interest to 55 percent.
NeTrue Communications, Inc. is a California
based IP telephony solutions provider.
NeTrue has sold IP phone/fax gateways and
gatekeepers to customers in more than 20
countries. NeTrue also manages a global IP
telephony network with 50 nodes in 16
countries. NeTrue's core technical
competency is QoS management, network
management and clearing house technology
in IP telephony networks.
Global Light Telecommunications is a
telecommunications company based in
Vancouver, B.C. with joint venture interests
in Europe through Axxon Telecom B.V., a
switched-based long distance reseller, and in
Mexico through Bestel, S.A. de C.V., a
facilities based long distance concessionaire
currently completing a 2,270 km fiber optic
network in Mexico. Global Light also owns
controlling interests in NeTrue
Communications, Inc., a company involved in
the supply of Internet Telephony services to
international markets and in Highpoint
Telecommunications Inc., (ASE:HGP) which
operates telecommunications networks
specializing in voice, data and internet carrier
services internationally.
CONTACT: Global Light Telecommunications
Inc. | Rob Blankstein, 604/609-6677 or
1-888-234-4423 | or | Global Light
Telecommunications Inc. | Kelly Taillon,
604/609-6677 or 1-888-234-4423 |
www.ggbtelecom.com | www.netrue.com
(NeTrue)
[Copyright 1998, Business Wire] |
