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To: Tim Davies who wrote (3720)	7/14/1999 4:23:00 PM
From: SSP	Respond to of 150070

GOLDEN FORTUNE INVESTMENTS LTD ("GFX-Y;GFUIF-L") - Wireless ISP Pilot Project Slated In Shanghai Golden Fortune Investments Limited and MultiCyber Internet Ltd. have reached an Agreement to provide Wireless Internet and Local Area Network Services for Shanghai, China. Groundwork is to start immediately and is expected to be completed in about 2 to 3 months. Golden Fortune will be utilizing wireless bridge/router technology that combines secure 2.4Ghz frequency hopping spread spectrum with the power of complete network configuration and control. The project will be located in the unique, Five-A class, network intelligent Shanghai Infoservice Tower in the Pudong New Area. This area is one of the largest special economic zones in China. The project will involve working with the Shanghai Infoservice Tower Infornet Co. Ltd.. This company is a local Internet Service Provider (ISP), Internet Content Provider (ICP), Online Shopping and Internet communications program developer. "Shanghai to the Chinese is like New York to the Americans. The importance of this pilot project can be likened to the introduction of pager and cellular phone services in China just a decade ago." said James Tong, Golden Fortune's President. "We are very enthusiastic about working with MultiCyber to establish this pilot project in such a prestigious and rapidly growing area." "This pilot project will alert all Chinese-based ISP's about the benefits and viability of wireless Internet access," added Mr. Tong. This project is the result of MultiCyber and SIT Information Network Ltd. (SIT) recently finalizing a joint venture agreement to establish and operate a high speed Internet services business for the Pudong New Area in Shanghai. The area is an important financial and trade zone for Shanghai and China with an area of 520 square kilometers and a population 1.5 million. - 30 - MultiCyber Internet Ltd. is a Vancouver-based Internet service company. MultiCyber focuses on multilingual, multimedia and multilinkage Internet services for business communities. MultiCyber's major business activities involves three areas: Internet Service Provision, Internet Application Development and Internet Investment Projects in Asian countries. SIT Information Network Ltd., Shanghai Information Tower and Shanghai Infoservice Tower Infornet Co. Ltd. are subsidiaries of Shanghai Information Town Real Estates Co. Ltd. A Pudong New Area registered company since 1994, Shanghai Information Town Real Estate Co. Ltd. is developing Shanghai Information Town, an information hub in China to connect with the global information highway. Sit's Web Site is: sit.net.cn. The Pudong New Area's Web site is pudong.shanghaichina.org Golden Fortune Investments Limited (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: info7@gfil.com or visit our web site: gfil.com TEL: 1-877-688-2623 James Tong, President Golden Fortune Investments Limited Internet: www.gfil.com E-mail: info3@gfil.com ______________________________