To: 2MAR$ who wrote (63966 ) 1/19/2000 9:52:00 AM From: amadeus Respond to of 108040
TIPS news> TIPS to Launch Phonecalls.com NEW YORK, Jan. 19 /PRNewswire/ -- Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS) announced today its plans to launch a new Internet Telephony company, Phonecalls.com, Inc. The new company will be a wholly owned subsidiary of TIPS and conduct business on the Internet as Phonecalls.com (http://www.phonecalls.com). Phonecalls.com, Inc. already has a complete introductory page at its website and plans to be fully operational within 30 days. Phonecalls.com will offer to consumers the opportunity to purchase on-line, prepaid phonecards with instant PIN #s. This will allow customers to use the prepaid phonecards at the time of purchase. The Company will offer low priced and quality service throughout the World by using both Internet and telecommunication technology. The goal of Phonecalls.com is to become one of the largest Internet Telephony Service Providers (ITSP) in the Chinese and Asian markets. In the year 1999, global Internet Telephony services revenues were approximately $100 million, whereas the total global telecom access market was $100 billion. Internet Telephony revenues are expected to grow over 150% a year until 2003 according to the most conservative industry estimates. James Tilton, President of TIPS stated, "Given the recent trend of mergers between Internet and communication companies, we felt it was imperative for TIPS to enter into the telecommunications market at this time. By utilizing Internet Telephony technology to achieve this goal, TIPS will certainly be recognized as a full service Internet company." Tianrong Internet Products and Services, Inc. is a U.S. holding company whose strategy is the acquisition of Domestic and International Internet Service Providers and related companies. For further information contact investor relations at 800-324-3464 or visit tipsstock.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 Internet Products and Services to accomplish its stated plan of business. Tianrong Internet Products and Services, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can 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 Internet Products and Services or any other person that the objectives and plans of Tianrong Internet Products and Services will be achieved.