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

To: stockman_scott who wrote (1020)	4/13/1999 8:28:00 AM
From: Dorine Essey	Read Replies (1) \| Respond to of 1593

This was seen on another SI link. I trust Mr. Goelo even though I personally don't know him. To: +$Mogul (309 ) From: +Francois Goelo Tuesday, Apr 13 1999 2:57AM ET Reply # of 314 $Mogul, nothing like that at all. Please, read my post #305... To the best of my knowledge, XNET is a very reputable Company. Please, read this release below and if you have any other question, do not hesitate to ask: Apr. 6, 1999 - Xin Net announces major planned expansion (Formerly Placer Technologies, Inc.) NASD Bulletin Board Symbol: "XNET" Further to the announcement of December 29, 1998 Xin Net Corp. wishes to announce that three months after the successful launch of its initial E-Commerce services to its subscribers; its subsidiary Xin Hai is poised to expand its E-Commerce services by introducing an expanded online E-Commerce service to the Chinese market. Xin Hai is already offering a "flea market" to its subscribers currently with over 10,000 items offered for sale. The expanded services will be made available during the second quarter of 1999, which will coincide with the start of the new operations in Shanghai and Taiyuan (populations 14 million and 8 million). Licenses have already been granted for these cities. For the above expansion program, the company has arranged a $5.5 million private placement of restricted shares. The company also wishes to announce that Mr. Marc Hung , B.A.Sc.(E.E.), M.A.Sc. (E.E.) and Mr. Maurice Tsakok have been appointed to the Board of Directors. Mr. Hung has over 25 years experience as engineer, manager and senior executive in a major Quebec utility. Throughout the years, he has been closely associated with technical and technological development and management, including computer hardware and software. Mr. Hung has taken over as President from Ms. Angela Xiao-Qing Du, who will dedicate more of her time in China. Mr. Tsakok brings a wealth of related knowledge to the company with over 15 years of computer and financial industry experience. He holds an Engineering degree as well as an MBA specializing in Management Information Systems (MIS). XNET is a profitable Internet Service Provider in China that has attracted more than 20,000 subscribers in less than 2 years 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 this new capital infusion, the company plans to implement a major expansion plan. Expansion to four major cities (including Shanghai and Taiyuan) and introduction of new E-Commerce sites, the company sees significant near term growth potential in both subscriber base and revenues. For investment information, please visit our English web site: xinnet.net Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economical and political factors, developments of the Chinese Internet market, and changes in regulatory matters. Xin Net disclaims any obligation to update any such factors or to publicly announce results of any revision to the forward-looking statements contained herein to reflect future events or developments.