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To: Bram12345 who wrote (38546)	3/22/2000 9:38:00 AM
From: Mandinga	Read Replies (2) \| Respond to of 150070

CHCL news. ACL Signing a Counter Trade Agreement with Pakistan /FROM PR NEWSWIRE 800-682-9599/ TO BUSINESS EDITOR: ACL Signing a Counter Trade Agreement with Pakistan HONG KONG, March 22 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL) announced that Asia Continental Limited (ACL), one of its subsidiaries, is finalizing an agreement with one of the largest seafood companies in Pakistan to sign a counter-trade contract. The signing is scheduled for early next month. Under this counter-trade arrangement, ACL will import seafood from Pakistan into China. China is a vast growing market for seafood. In order to meet the ever-increasing demand from its 1.2 billion people for seafood, especially its growing middle-class, China plans to aggressively expand its capacity of fish harvesting and fish farming. Mr. Harry Ho, Chairman of China Continental, Inc., stated, "As Pakistan is a major resource for seafood in the Southern Asia region, ACL is embarking on a new market where the Company will offer the country a seafood counter-trade opportunity. Supplies of fishing nets will be traded for their seafood resources. The seafood supplies will then be exported to China in return for cash revenues. The initial discussion of the counter-trade contract is for ACL to supply fishing net fabrics worth a potential US$30 million (or 10,000 MT) for the equivalent value in seafood." About China Continental Inc. China Continental, Inc., traded on the OTC Bulletin Board market since 1995, is a holding company with over ten years of experience in developing turnkey businesses. Core activities include supplying manufacturing technology on a turnkey basis, high technology manufacturing techniques in primary industries, and developing and providing technologies in agricultural genetics and farming. The Company's agricultural genetics and farming activities are centralized in the Inner Mongolia Province of China, covering an area of 406 square kilometers to commercialize its genetic techniques in breeding as well as propagating superior livestock and products in its own Research and Development Institute. Safe Harbor Statement Except for the historical statements made herein, the statements made in this release are forward-looking statements including "signing is scheduled for early next month", "to supply fishing net fabrics worth a potential US$30,000,000 (or 10,000 MT)". Factors that could cause actual results to differ materially from those projected in forward-looking statements include the Company's ability to capitalize on diversification opportunities in Pakistan. The risks include organizing and managing the trade agreement, raising the necessary capital, receiving government and legal approvals, general business conditions, political and other business risks. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. SOURCE China Continental, Inc. /CONTACT: Harvey A. Goralnick, Investor Relations, of FOCUS Partners LLC,212-752-9445, or chcl@focuspartners.com, for China Continental/ Mar-22-2000 09:26 GMT Symbols: US;CHCL Source PRN PR NewsWire Categories: NWI/FOD NWS/CON