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Technology Stocks : Citrix Systems (CTXS) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Khymn who wrote (8734)	8/8/2000 8:42:21 AM
From: ColtonGang	Read Replies (1) \| Respond to of 9068

Citrix Signs China Distribution Agreement with Beijing Stone Investment Co.; Agreement Marks First Step in Citrix Expansion in China Marketplace TUESDAY, AUGUST 8, 2000 8:31:00 AM EST BEIJING, China, Aug 8, 2000 (BUSINESS WIRE) -- Citrix Systems, Inc. CTXS announced today that it has signed a distribution agreement with Beijing Stone Investment Co. Ltd., a national distributor of electronic products, e-commerce and Internet applications and services in China, with 13 branches strategically located on the China mainland, and sales of approximately US$123 million. Under the terms of the agreement Beijing Stone Investment will provide Citrix server-based computing solutions to value-added resellers and system integrators that specialise in enterprise application deployment solutions in the China marketplace. According to Avneesh Saxena, director for server research at IDC Asia Pacific, the expansion in the telecommunications segment combined with government-led Internet & infrastructural initiatives enabled the China server market to grow 26 percent annually by revenue in 1999. "This agreement gives us an extensive distribution channel encompassing the whole of China," said Alan Pettit, vice president, pacific, for Citrix. "With Beijing Stone Investments' extensive knowledge and connections throughout China, Citrix is well-positioned to take full advantage of the anticipated strong demand for server-based and application portal software in the People's Republic of China." "China has experienced vast growth in Internet subscribers over the past year and as businesses become more aware of the concept of the Application Service Provider (ASP) business model, the value of e-commerce and e-procurement, they will be able to minimize total cost of ownership (TCO) and be able to concentrate on their core business through the use of Citrix software," Petit added. TCO refers to the total cost of IT services. According to Zona Research, a server-based approach to computing such as Citrix(R) Systems' Independent Computing Architecture (ICA(R)), can reduce TCO by as much as 57% (1). About Beijing Stone Investments Co. Ltd. The Group's turnover is derived principally from the manufacture, distribution and sale of computers, electronic, electrical and telecommunications products, and office equipment. The Group operates primarily outside Hong Kong in the People's Republic of China (PRC) where its existing manufacturing facilities and distribution network are based. The Group's activities in Hong Kong include the sourcing of computers, electronic, electrical and telecommunications products, office equipment and component parts for processing, distribution and sale in the PRC. Further information may be obtained from their website at www.stone-invest.com or www.stone.com.hk.