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To: Francois Goelo who wrote (1578)	4/23/1999 9:32:00 AM
From: Jeffrey L. Henken	Read Replies (1) \| Respond to of 2662

Xin Net Corp. Makes Announcement VANCOUVER, British Columbia--(BUSINESS WIRE)--April 23, 1999-- Further to the announcement of April 6, 1999 Xin Net Corp. (formerly Placer Technologies Inc.)(OTC BB:XNET - news) Friday announced that it has entered into an agreement with EDUVERSE Accelerated Learning Systems Inc. (OTC BB:EDUV - news) to provide EDUVERSE's Internet based English language instruction system (freeENGLISH) in China. ''E-Commerce and E-Education are the biggest initiatives driving the Internet industry today,'' explained Marc Hung, president of Xin Net Corp. ''Identifying the right E-Education initiative for our ISP network has been a top priority for us. This agreement with EDUVERSE makes Xin Net a leading pioneer for distance education in China. Millions of Chinese are striving to improve their English. ''Now we are positioned to meet their requirements while adding value and revenue to our network. freeENGLISH will be popular with our subscribers and will play a significant role in attracting new subscribers.'' ''Xin Net Corp. has the marketplace presence and corporate vision to remain a forerunner in China's booming Internet business,'' stated Mark E. Bruk, president and chief executive officer of EDUVERSE. ''Together, we will provide quality English language education for free while generating significant future revenues through advertising. ''Corporate sponsored education is a winning model recognized by business, educators and governments.'' Under the terms of the agreement, EDUVERSE will provide a localized Mandarin version of freeENGLISH to Xin Net Corp. for launch on June 1, 1999. Both companies will participate in marketing activities to attract new users to the Xin Net network and the freeENGLISH application. About freeENGLISH freeENGLISH is a premium English as a Second Language computer program that teaches spoken English over the Internet at www.freeENGLISH.com. The program is completely free to use and generates revenue by displaying embedded advertising throughout the course content. In a 30-minute session, a user is exposed to 120 advertisements that rotate every 15 seconds. Advertisers pay an average of one penny per advertisement. An average user generates $1.20 in gross revenue per session. About EDUVERSE Accelerated Learning Systems Inc. EDUVERSE Accelerated Learning Systems Inc. is a technology-based company focused on developing and marketing proprietary educational software products specializing in English language instruction and Internet delivery. Xin Net Corp. is an Internet Service Provider (ISP) and Internet Content Provider (ICP) in China that has attracted more than 20,000 subscribers. The company has approximately 50 employees and at present its clients are located in Beijing and Shenyang (combined population of 26 million). Xin Hai is currently offering a ''flea market'' E-Commerce product to its subscribers with over 10,000 items offered for sale. An expanded service 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 investment information, please visit our English web site: www.xinnet.net. 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. Contact: Xin Net Corp., Vancouver Marc Hung, 604/632-XNET (9638) Fax: 604/689-7654 biz.yahoo.com