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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: vagabond who wrote (95280)	4/12/2000 9:16:00 AM
From: vagabond	Respond to of 108040

New CHCL/HITT item (BTW: I know HITT has had a rather "checkered" past, but a review of recent news-items suggests that most of those problems are over -- with the dismissal of a class-action lawsuit, and some promising financial data. If anyone is aware of any currently valid negative info about that company, though, I'd be very interested in hearing it. TIA...): ================ Wednesday April 12, 8:31 am Eastern Time Hitsgalore.com Proposed $20 Million Licensing Deal with China Continental RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--April 12, 2000-- Hitsgalore.com Inc. (OTC BB:HITT - news), announced today that it has proposed to license its concept and technology for five years to China Continental, Inc. (OTC BB:CHCL - news) for $20 million. The proposed licensing agreement would provide China Continental with a five-year exclusive license to use Hitsgalore.com's business plan, certain technology, software programming and support of its business plan in the Asian market. Hitsgalore.com's proposed licensing grant would authorize China Continental to utilize its highly successful search engine technology and key word bid and rank program in connection with services it plans to develop for Asian markets. It could also utilize Hitsgalore.com's other proprietary portal services such as hitsmail, instant banner maker, voicemail, stock quotes, custom music cds and voice banners. Hitsgalore.com will also assist China Continental in the conversion of the business plan to other languages and help with the adaptation of its technology and portal services for use in Asia. Hitsgalore is currently in negotiations with China Continental Inc., a Hong-Kong based business developing company, to form a new joint venture -- Hitsgalore.com Asia. The terms of the agreement would provide both partners access to and the ability to capitalize upon the future growth opportunities that exist within many areas of the developing Asian Internet sector. The proposed $20 million licensing agreement with China Continental would be payable as ten million in cash and the number of shares of unrestricted common stock of CHCL, calculated as of the average of the bid and ask for the closing share price, equivalent of ten million US dollars. Dorian Reed, Chairman of Hitsgalore.com said, ``This proposal will make it possible for both companies to quickly establish market dominance in Asia with Hitsgalore's unique business model. It will also provide Hitsgalore.com with a fresh new revenue source that can be repeated worldwide.' 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. Its 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. Hitsgalore.com (www.hitsgalore.com) has a unique business model of giving away free banners, lifetime banner placement, and other Portal Services. The Company generates revenue from its keyword bid and rank program, sponsorships of portal services, and local city editions. Hitsgalore.com strives to provide porn-free searching and does not accept or encourage any porn or adult-content listings on its site. The company is also involved in the rapidly growing business-to-business e-commerce sector through its unique Hitsgalore Business Exchange 2000 (HBX2000) (www.hbx2000.com) portal service. Hitsgalore.com is the innovator and developer of the first B-2-B Internet Business Exchange that offers a trade organization to provide pre-qualified ``one on one sales introductions' for its listed companies; the Company is the market leader in this newly unearthed market niche. Hitsgalore.com believes its business model compares favorably with others in the B2B Internet e-commerce markets such as Ariba Inc. (Nasdaq:ARBA - news), Commerce One Inc. (Nasdaq:CMRC - news), Oracle (Nasdaq:ORCL - news) and SAP AG (NYSE:SAP - news).