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To: Doug Robinson who wrote (44961)	3/10/1999 9:07:00 AM
From: Glenn D. Rudolph	Respond to of 164684

Legend plans devices for Chinese Internet market SHENZHEN, March 10 (Reuters) - Legend Holdings Ltd<0992.HK> said it would develop low-cost devices that will bring Internet access to Chinese consumers via television sets as a part of Microsoft Corp's<MSFT.O> Venus project. "We will cooperate with Microsoft in all areas including promotion and distribution," Chairman and President Liu Chuanzhi told reporters after he met Microsoft Chairman Bill Gates in Shenzhen. Legend said the "set-top" box will use a version of Microsoft's Windows CE operating system tailored for the Chinese market. Similar to Microsoft's WebTV product, devices developed under the Venus project will use a standard television set as a monitor and allow people to browse the Internet, send and receive electronic mail, create documents, play games and access other functions using PC-like input devices such as a keyboard and mouse. Liu said Microsoft's Venus project would stimulate interest in the Internet among Chinese consumers, and would indirectly boost demand for low-cost and easy-to-use non-PC products. "Non-PC products will become more and more mature and popular in China in next two to three years," Liu said. Liu said Legend reserves one to two percent of its annual turnover for research and development, or about HK$100-200 million. He said the research and development investment in the Venus project only accounted for a small portion of that amount. Liu declined to comment on the contribution from the Venus project to company's earnings. In China, there is only one personal computer for every 3,000 people, and television sets are far more common, a Legend official said. Liu said Legend would consider seeking an overseas listing, such as on the Nasdaq exchange in the United States, but only in the very long term. 2843 6370; Fax (852) 2845 0636