CHINA APPROVES GOLDEN FORTUNE AS A WIRELESS INTERNET SERVICE PROVIDER
COMPANY: Golden fortune Investments Limited
SYMBOL: ASE:GFX
INDUSTRY: Wireless Internet
Vancouver, BC - June 1, 1999 - Golden Fortune Investments Limited (ASE:GFX) has received approval for their Wireless Internet Solution to be introduced into the existing China Data Communications Network. This approval positions Golden Fortune and their Chinese partner to become the leading Wireless Internet Service Provider (ISP) in the People's Republic of China (PRC).
The approval allows for introduction of Golden Fortune's "wireless bridge/router" system, based on the WaveRider NCL-135, as a nationally approved hardware system which will enable linkage of ISP's throughout the country. The Chinese Central Government's China Science Committee (CSC) presented this approval to NORCEL, Golden Fortune's partner in China.
Golden Fortune's President, James Tong commented, "This approval goes a long way to meet our corporate objectives relating to our Project in China. Based on a known conservative equipment & installation value, the initial order would be in excess of US $20 million once testing is completed in China." "The product has successfully completed testing in North America and received Federal Communication Commission (FCC) approval. We are confident that similar approval will result in China," he added.
Golden Fortune's revenue stream will commence immediately upon completion of system testing. GFIL expects system testing to be completed during the third quarter of 1999.
Golden Fortune Investments Limited (ASE:GFX) is a diversified company with interests in technology licensing agreements, and other investment holdings including mining. The company's primary objective is to capitalize on Internet business opportunities that exist within China. Golden Fortune's Head Office is located in Vancouver, British Columbia, Canada.
For further information regarding Golden Fortune Investments Limited and its ongoing corporate direction, please call toll free, 1-877-688-2623, E-mail: info3@gfil.com or visit our web site: gfil.com.
The Alberta Stock Exchange has neither approved nor disapproved of this News Release. |
