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Microcap & Penny Stocks : TIPS Tianrong Internet Products & Services -- Ignore unavailable to you. Want to Upgrade?

To: Charles Kalb who wrote (121)	11/3/1999 3:52:00 PM
From: Charles Kalb	Read Replies (1) \| Respond to of 203

TNRG Enters the World of Telephony NEW YORK, Nov. 3 /PRNewswire/ -- Tianrong Building Material Holdings, Ltd, (OTC Bulletin Board: TNRG) announced today that it has entered the telephony industry, through its subsidiaries, Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS) and Chinamalls.com (http://www.chinamalls.com). Chinamalls.com has signed an agreement with Abest Communication, Inc. ("Abest") to be Abest's exclusive online distributor of prepaid phone cards for the Asian community. Abest is a leading player in the prepaid phone card market for the Chinese community in the United States and presently, Abest has 20% of the market share. Abest deploys VOI (Voice Over Internet) technology and provides quality customer service at very competitive prices. Chinamalls.com is a leading e-commerce website for Chinese products, which is accessible in both Chinese and English. James Tilton, president of TNRG stated that, "with the size of the Chinese calling card market at approximately 120 million dollars annually and growing rapidly, we felt this was the perfect opportunity for TNRG and Chinamalls.com to enter the telephony market. Our online sales of prepaid phone cards are increasing everyday and we are extremely excited about the Company's future in the industry." Tianrong is a business development company that has set as its goal the acquisition of businesses in numerous industries and plans to apply Tianrong's management expertise to quickly grow value in the acquired businesses. For further information contact investor relations at 800-324-3464 or visit tnrg.com. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Tianrong Building Material Holdings to accomplish its stated plan of business. Tianrong Building Material Holdings believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Building Material Holdings or any other person that the objectives and plans of Tianrong Building Material Holdings will be achieved. SOURCE Tiarong Building Material Holdings, Ltd. CO: Tiarong Building Material Holdings, Ltd. ST: New York