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Microcap & Penny Stocks : Xin Net Technologies - BB: XNET - The Next Internet Stock? -- Ignore unavailable to you. Want to Upgrade?

To: LT who wrote (1502)	9/9/1999 10:32:00 AM
From: pat pasquale	Read Replies (1) \| Respond to of 1593

Xin Net Corp. Announces Marketing Agreement with the Bank of China VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 9, 1999--The Board of directors of Xin Net Corp. (OTC BB:XNET) wishes to announce the following: 1. The Company's operating arm in China, Xin Hai, has reached an agreement with the Bank of China, by which the Bank agrees to carry Xin Hai's Instant Card in Beijing, a prepaid Internet access card that can be purchased at branches of the Bank of China in Beijing as well as at other Xin Hai distribution centres. 2. Xin Hai will receive on September 15, 1999 the first shipment of the Alcatel equipment it recently purchased. The purchase of up to 18,000 digital ports will enable Xin Hai to remove a technical bottleneck and facilitate its expansion plan. Subscriber base has now grown to a milestone number of 30,000. 3. Chinadns, the Company's new domain name registration business, the first to offer true on-line domain name registration in China, is meeting with much success. In less than two months, it has registered more than 3,000 names, averaging 60 new names per day. Xin Hai recently penned an agreement with Melbourne Information Technologies Australia Ltd., an accredited Registrar of Internet Corporation for Assigned Names and Numbers (ICANN). The agreement enables Chinadns to offer competitive rates and attractive conditions to its corporate and individual customers. 4. Xin Hai has been recognized by Microsoft as a Certified Microsoft Solutions Provider. This certification, together with the ''Strategic Partner'' status from IBM, coupled with the excellent technical support availability from Alcatel puts Xin Hai in a very enviable position which will allow the Company to carry out smoothly its previously announced expansion plan. Xin Hai is an Internet Service Provider (ISP), an Internet Content Provider (ICP), a Domain Name Registrar and a soon-to-be full-fledged E-Commerce Facilitator that operates in Beijing, Shanghai and Shenyang. It also holds licenses to operate in seven (7) other major cities in China. Forward-looking statements involve risks and uncertainties including, but not limited to, economical and political factors, developments of the Chinese Internet market, and changes in regulatory matters. Xin Net disclaims any obligation to update any such factors or to publicly announce results of any revision to the forward-looking statements contained herein to reflect future events or developments. ON BEHALF OF THE BOARD OF DIRECTORS (Signed) Marc Hung, President