***NEWS****Energy; China LPG: Largo Vista Announces Shareholders Approval
NEWPORT BEACH, Calif., Dec. 17 /PRNewswire/ -- Largo Vista Group, Ltd. (OTC Bulletin Board; LGOV) (www.largovista.com), the holding company for Kunming Xinmao Petrochemical Industrial Company, Ltd., and a leader in the Chinese liquid petroleum gas industry, has announced the approval to pursue negotiations of four joint venture marketing agreements at its December 7, 1998 shareholders meeting. Kunming Xinmao is the largest retail seller of LPG for residential users, a wholesale seller of LPG to other distributors, and the sole developer of LPG pipelines in China's Yunan Province.
1. Sentio Corporation, a private internet company, and Largo Vista are in final negotiations of an exclusive marketing agreement for promoting Sentio's I-Net Agent Technologies Licensing Program into the Asian market. Sentio is a subscriber-based (Search Engine System, Intelligent Agent Research Tools, and Intelligent Agent Filter Tools) internet system. Sentio's technologies and services operate in areas of systems integration, software systems and telecommunications, including Internet and Intranet infrastructures, E-commerce, hosting services, and web site development. Sentio's technology is easy to direct, interacting with the user to retrieve specific Internet information while filtering out undesirable information. Through Sentio's subscriber services, the system keeps information current by working 24 hours a day 7 days per week, with the capability to identify ''pro'' and ''con'' perspectives within the retrieved articles. Access to specific information, such as pornography, Internet games, and stock quotes for example can be withheld by the system, thus giving control over what can be retrieve online. By filtering out unwanted Internet content, productivity is enhanced. Use by schools for limiting student access to unwanted Internet material is one of the numerous applications for the technology.
2. Renewable Resources Inc. and LGOV are in final negotiations for the exclusive marketing and distribution rights of water filtration systems in the People's Republic of China. This low-cost water filter with the ability to treat and kill germs will be introduced into China during the first quarter of 1999. The filter has been tested and approved for treatment of some of the most notoriously contaminated water in the world. The filter system will retail at approximately 1/2 of the least expensive water filter currently available in China. Most filters do not have germ treatment capability. The filter will treat approximately 2000 gals. and save the customer approximately 3900 RMB/$500 USD over available systems. Filters will need periodic replacement and will also be available at a low cost. Largo Vista will introduce the filters to their existing LPG customers and to LPG pipeline customers and other distribution networks of which Largo Vista is a part of in China. Sales demand is projected to exceed production capacity quickly. This will lead to eventual manufacturing of the filter housing in China while continuing to import the patented filter from the United States.
3. Lasertec International (www.lasertec-intl.com) and Largo Vista are in final negotiations of an agreement for exclusive marketing and distribution rights for its products in China. Lasertec's Fluid Analyzer and Laser Turbidimeter systems are based on the laser diffusion principle. The patented Analyzer accurately measures pollution particles not conforming to the corresponding fluid. The system detects particles in liquids instantly and is programmed to identify bacterial contamination. During analysis, the fluid in question passes through a laser beam. The re-emitted light by each enlightened particle is collected by a photo receptive cell, then analyzed and interpreted by an information processing system. When any contaminate is detected, the flow of liquid can be stopped and tested for contamination before the downstream product such as milk, juice, beer, waters, etc., are also contaminated. Lasertec'c products and technology could have a profound impact on the maintenance of purification controls in all liquids in China.
4. Largo Vista has entered into a memorandum of understanding to pursue a joint venture with a Chinese communications company for the purpose of developing a nation-wide telecommunications network linking low frequency band widths within mainland China. The frequencies will be used for instant two way radio communications, and nationwide page delivery. The system will eliminate long distance fees within the network. A nation wide Low frequency network system is successfully being used by one of the largest telecommunications company in the United States utilizing radio phones and pagers as part its network.
President Daniel Mendez stated: ''Investors will want to follow through with their own inquiries into these joint venture endeavors to understand how they complement our existing LPG business. We are excited about positioning Largo Vista as a multifaceted utility company. 1997 was an adjustment period for us; our financials for that year were disappointing because of payment of debt and restructure and conversion from traditional Chinese accounting to general accepted accounting principles (available on website). Our focus has been for aggressive shotgun expansion throughout three provinces in China (Sichuan, Guizhou,Yunnan pop 150 million) to establish Xinmao's LPG pipeline projects big or small. Our stratagy is to negotiate new Pipeline stations projects with a non competitive clause. Our smallest pipeline project, for example in Yiliang county (Pop: 450,000) has the potential of over 100,000 households. Once the first LPG pipeline project is completed in the target county. We can cultivate the area with additional LPG projects (7 pipeline stations completed, 1998 ). Introducing the water filters will add incentive for new LPG customers with safe drinking water. We are anticipating improved 1998 financials, an unaudited version should be available by the time of our Board of Directors meeting January 20, 1999. That meeting will announce our new Board members and CEO.''
For more information contact investor relations, 949-252-2180
SOURCE: Largo Vista Group Ltd.
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