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Microcap & Penny Stocks : Xin Net Technologies - BB: XNET - The Next Internet Stock? -- Ignore unavailable to you. Want to Upgrade?

To: MR_KASH who wrote (61)	12/29/1998 1:56:00 PM
From: MR_KASH	Read Replies (2) \| Respond to of 1593

Press Release out today: Xin Net Corp. December 29, 1998 Nasdaq Bulletin Board Symbol: "XNET" Press Release Further to the announcement of December 8, 1998 Xin Net Corp. wishes to announce that its subsidiary Xin Hai has successfully launched its E-Commerce service to its customer base in China. Businesses offer discounts to users of the E-Commerce service and Xin Hai receives a commision. Earlier this year, the Chinese Ministry of Foreign Trade and Economic Cooperation (MOFTEC) set up an E-Commerce portal site, which attracted 60,000 visitors on the first day and 560,000 visitors in the first week. While E-Commerce is still at an early development stage in China, Xin Hai is well positioned to capitalize on the commercial potential of the Internet throughout the country. While typical American Internet companies, such as Amazon.com and E-Bay, to list a few, must wait several years to see the profits of E-Commerce, Xin Hai is already a profitable business that will see additional returns from this expanding service. XNET is a profitable Internet Service Provider in China that has attracted over 16,000 subscribers in nineteen months of operations. The company has about 50 employees and at present its clients are located in Beijing and Shenyang (combined population of 26 million). With expansion planned in four additional Chinese cities, the company sees significant near term growth potential in both subscriber base and revenues.