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Gold/Mining/Energy : CEU - China pager and emerging IDC -- Ignore unavailable to you. Want to Upgrade?

To: Robert Dydo who wrote (14)	5/17/2000 11:17:00 AM
From: Robert Dydo	Respond to of 26

Concept schedules IDC project to Jitong Concept Industries Inc CEU Shares issued 6,457,822 May 16 close $0.62 Wed 17 May 2000 News Release Mr. William Jung reports The company's management has just returned from China and is pleased to announce that the anticipated presentation on the Internet Data Centre (IDC) project to Jitong Telecommunications Ltd. (Jitong) has been scheduled for the second week of June. The presentation will be made in co-operation with the Hong Kong and Beijing divisions of a major U.S.-based Internet technology company. The company has signed a memorandum with the Beijing branch of Jitong to establish a joint venture to develop and operate IDCs in the People's Republic of China. Jitong operates a major public data network and is one of only two commercial Internet backbone systems in China. A formal agreement will be signed after acceptance of the project details as outlined by the presentation. As reported in Stockwatch April 26 2000, the company's Shandong paging joint venture (Contour) has reached an agreement to form an alliance with a Beijing-based company (BeijingCo) that has strong government backing in China and financial support from major international companies. BeijingCo has licences to be an Internet service provider and to offer two-way wireless messaging and long-distance by way of the Internet also known as voice-over Internet protocol (VoIP) throughout China. Because BeijingCo is still in the process of negotiating acquisitions and alliances, its identity cannot be disclosed at this time. BeijingCo's goal is to be the largest private telecommunications company in China. The new alliance is preparing for the introduction of a two-way wireless messaging system and the launching of ISP services in three selected cities by September of this year. One of the three cities is Jinan, capital city of Shandong province and headquarter of Contour. Contour currently operates paging systems in 13 cities of Shandong province and is the second largest paging network in the province. In Shandong province, Contour brings into the alliance, its facilities, infrastructures, technical and managerial expertise, and its subscriber base of 375,000 customers. Equity ownership will be based on the proportionate share of financial investment contributed by each party. This alliance will enable Contour to extend its telecommunications operations and broaden its revenue base by expanding into other provinces of China.