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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: W.F.Rakecky who wrote (16854)	7/31/1998 10:29:00 AM
From: Moonray	Respond to of 22053

Benhamou Visit To China A Great Success Newsbytes - July 30, 1998 23:02 HONG KONG, 1998 JUL 31 (NB) -- By IT Daily. 3Com Corp. [NASDAQ:COMS] chairman and chief executive officer Eric Benhamou's series of high level meetings in China this week were a great success, according to a statement from the company. Benhamou met with Vice Premier Wu Bangguo, to discuss ways to develop the mainland's technology infrastructure, and Zhou Deqiang, the deputy minister of the Ministry of Information Industry. Benhamou also presided over letter-of-intent signing ceremonies that will see 3Com expand its presence in China through two joint ventures that bring the company's total investments on the mainland over the next two years to more than US$100 million. The first joint venture will provide top-level systems and network consultancy that will eventually lead to the manufacture of strategic networking products. Partners in the joint venture include Beijing Kuanguang Telecommunications, an affiliate of China Telecom, Beijing Guochuang Information Technology, an affiliate of ISP China On-Line, and Beijing Yuguangtong Science and Technology Development Centre. Through the second agreement 3Com will join forces with the China Academy of Sciences to set up a research institute to promote converged networking technology. The Knowledge Innovation Research Centre will focus on how converged networking technology can drive economic development in China, and will include a multimedia lab to showcase solutions for tele-medicine and distance learning. "The trip has been a great success," Benhamou said. "The Chinese leadership is focused on using networking technology as a tool to drive sustained economic growth while moving towards a more knowledge-based economy. 3Com's converged network solutions, together with the local expertise of our joint-venture partners will allow us to create leading edge networks that serve the needs of the Chinese people. These announcements, without doubt, further enhance 3Com's position as China's number one networking vendor." China is one of 3Com's main markets in the Asia-Pacific region. Figures released by International Data Corporation Asia Pacific in April this year show that the company had a market share for 1997 of 31 percent for end-to-end networking technology including switches, network interface cards, routers, hubs and remote access servers. o~~~ O