To: Paul A who wrote (61705 ) 1/13/2000 7:47:00 AM From: Bouf Respond to of 108040
OLD NEWS..but JAN 18 could cause a POP for "MDTV"!! READ ON!! Time to buy ? MDTV Announces Joint Venture With Antech (Hong Kong) to Provide Digital Satellite TV, High Speed Internet, Telephony and Security Products to the Asia Pacific Market CHAI WAN, Hong Kong SAR and RICHMOND, British Columbia--(BUSINESS WIRE)--Dec. 1, 1999-- OTC:BB:MDTV CUSIP: 582 828 109 mduc.com Antech (Hong Kong) Ltd. (``ANTECH'), a wholly owned subsidiary of Kingly Enterprises Inc., and MDU Communications International, Inc. (``MDTV') have recently signed a Memorandum of Understanding to exploit various technologies in the Asia Pacific marketplace. The purpose of the understanding is to structure a strategic relationship between MDTV and ANTECH to provide high speed Internet, telephony and security products in the Hong Kong SAR, Macau, Taiwan and the People's Republic of China. MDTV will also assist ANTECH in exploiting SMATV, Digital Satellite TV and Pay Per View TV in the Asia Pacific region. The parties will enter into a joint venture agreement (the ``Joint Venture') early in January 2000, with an expected signing ceremony and media launch in Hong Kong slated for January 18, 2000. The Joint Venture will incorporate a Hong Kong corporation for the purposes of operating the Joint Venture. ANTECH will have a 75% interest in the JV corporation and be responsible for all funding requirements of the Joint Venture, sourcing equipment supply in Asia and adapting MDTV's knowledge and expertise to the cultural and market differences between Asia and North America. MDTV will have a 25% interest in the JV corporation and be responsible for the new technologies, management and marketing expertise, North American supplier relationships and beta site management.