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Technology Stocks : AppliedTheory Corporation (ATHY) -- Ignore unavailable to you. Want to Upgrade?

To: buckhead26 who wrote (93)	12/18/1999 11:21:00 PM
From: buckhead26	Read Replies (1) \| Respond to of 98

China Connection Expands For those who pass by, ATHY is expanding their consulting/CIO training program in China. See release below. I think people are REALLY missing this stock and I am holding long. Buckhead26 SIO Delegation Meets with AppliedTheory Executives to Discuss Future IT Initiatives in Shanghai, China NEW YORK, Dec. 15 /PRNewswire/ -- A delegation from SIO (Shanghai Information Office), visited AppliedTheory Corporation (Nasdaq: ATHY) offices in New York last week to discuss how AppliedTheory can help implement a host of new IT projects now underway in Shanghai, China. SIO, also known as the Office of Shanghai National Economy & Society Informization Leading Group, is the municipal government agency directly responsible for IT development in Shanghai. "Shanghai is in a leadership position with regard to IT development in China," said Mr. Zhongchao Guo, SIO deputy director and leader of the delegation. "We are in the early stages of developing e-commerce capabilities. We are here today because AppliedTheory has unique experience in many projects we are interested in developing." The 20 member SIO delegation, representing leading decision makers from many technical and governmental organizations in Shanghai, met with executives from AppliedTheory to discuss the high-speed SONET ring being built around the city, and to investigate 'digital government' projects similar to the work AppliedTheory performs for America's Job Bank, including employment and workforce training. AppliedTheory is the only ISP that the SIO delegation met with on their visit to the U.S. "Our Web site gets 9 million hits per day," said John Novak, Director of America's Job Bank, who spoke at the meeting. "As our primary service provider, AppliedTheory has the technical expertise and bandwidth to successfully implement and manage large-scale IT projects of the size and scope that SIO is planning." "The Chinese government is rapidly developing a national IT infrastructure, and Shanghai is a laboratory for new IT initiatives," said Dr. Richard Mandelbaum, AppliedTheory CEO. "AppliedTheory is in a position to capitalize on this trend because of our depth of experience in providing Internet solutions to both private and public sector organizations, and our leadership in next-generation projects such as Internet2. We look forward to working closely with SIO in meeting Shanghai's growing IT demands." AppliedTheory has operated a trade office in Shanghai since 1998. Last July, the company signed a joint-venture agreement with SII (Shanghai Information Investment Company, Inc.), establishing the first-ever CIO training program for future Chinese CIOs. The program, which is run jointly between AppliedTheory, SIO and SII, recently concluded its first phase of training. Participants are scheduled to visit the U.S. next month for the second phase, where they will work directly with American CIOs before returning to China. Established under the approval of the Shanghai Municipality, SII is a stock company dedicated to investment in Shanghai's information industry, as well as to speed the pace of IT development nationally. The company collects funds to invest in major trans-industry and trans-departmental projects. According to an IDC report released in April 1999, China's IT market is expanding faster than any other IT market in Asia. Furthermore, by the year 2000, China is expected to have the largest IT market in the entire Asia- Pacific region-excluding Japan-valued at US$15.0 billion. "AppliedTheory's role in the CIO training program is only the first of many initiatives we are planning for the Chinese market," added Dr. Mandelbaum. "Our meeting with SIO last week helps lay the groundwork for our company to take advantage of strong business opportunities in this important market." About AppliedTheory With deep roots in the emerging Internet marketplace, AppliedTheory offers a peerless strategic vision to companies and public sector organizations seeking everything from simple Internet access to sophisticated large-scale, Internet-based application development. AppliedTheory's integrated solutions are tailored not only to the customer's immediate needs, but are engineered to respond to future demand, with an emphasis on customer support and service. Together with its strategic business partners, AppliedTheory implements a broad range of best-of-breed services nationwide, including needs assessment and security consulting, dedicated web hosting and access, Virtual Private Network (VPN) implementation, enterprise portal development, database integration and administration, and ongoing end-to-end support. More than a technology company, AppliedTheory understands the Internet business-and how to do business on the Internet. AppliedTheory is headquartered in Great Neck, New York. For more information, access the company's Web site at appliedtheory.com.