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Microcap & Penny Stocks : SETO Semicon Tools Inc. -- Ignore unavailable to you. Want to Upgrade?

To: two trades who wrote (3081)	5/17/2000 5:59:00 PM
From: two trades	Respond to of 3222

Wednesday May 17, 4:00 pm Eastern Time Company Press Release SETO Announces Signing a MOU -- Memorandum of Understanding -- With CCT Telecom Holdings Limited Hong Kong, China BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--May 17, 2000--SETO HOLDINGS INC. SETO Holdings Inc. (OTCBB: SETO - news) today announced that it has signed a MOU with CCT Telecom Holdings Limited (CCT) Hong Kong, China, to explore business opportunities in Malaysia and other countries in SE Asia. CCT, one of the largest telecommunication companies operating in Hong Kong and Main Land China, plans a major expansion into SE Asia with Malaysia as a key area. CCT recently completed a strategic China alliance with Lucent Technologies USA, and now plans to expand in Malaysia for wireless broadband, ASP (Applications Service Providers) and the sharing of e-commerce content and resources. SETO Holdings Malaysia is already heavily involved with the telecommunications industries and service providers for the equipment they require, such as ADSL, DSL, VOIP and SET TOP BOXES, just to name a few. SETO has already been working with two large public companies in Malaysia and identified them as excellent potentials with the services and business organizations to support CCT's requirements, said Gene Pian, SETO's president. Mr. Tan Hun Chin, a corporate director of SETO and key coordinator of the telecommunication projects said ``All parties involved are interested and eager to pursue a Joint Venture with SETO for managing and providing wireless service in Malaysia through the two Malaysian companies which also provide ISP (Internet Service Provider) services for commercial and consumer markets. The Malaysian companies (to be named in the near future) are large public companies in Malaysia with broadcast licenses for cable and commercial TV, news media ownership, property developers and content suppliers with portals for games, travel, e-business B2B and B2C and education. SETO will also enjoy additional business for the SETO manufacturing facilities in Malaysia, Hong Kong and China for the telecommunication equipment needed for this joint venture, as an in-house supplier to the group.'' SETO has been manufacturing in Malaysia since 1989, starting with technical products and recently consumer and telecommunication products. This long-term effort and endurance has proven SETO's credibility and sincerity to succeed. The length of time in Malaysia enabled SETO to establish an extensive, nationwide network of people and companies to support our efforts and growth to obtain success. About SETO Holdings, Inc. Founded in 1975, SETO Holding, Inc. operates as a broad based technical manufacturer in two major product groupings: technical Products to industry, inclusive of diamond tools, wafer fab supplies and technical ceramics; and Consumer products such as cellular phone batteries, rechargeable batteries for uses, consumer electronics and telecommunication devices. Please visit the Company's web sites: www.SETOHOLDINGS.com, www.stidiamond.com, www.ecsceramics.com, www.setoemall.com, www.hk-batteries.com.hk. Included in this release are ``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, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors. -------------------------------------------------------------------------------- Contact: SETO Holdings Inc. Public Relations Manager Thomas Fisher 914/923-5000 914/923-6225 fax stiandecs@aol.com or setofisher@aol.com