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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Francois Goelo who wrote (9690)	5/26/1999 12:47:00 PM
From: 2MAR$	Respond to of 52051

SNS WIRE) China Internet Companies Coming To America: OMDO In Merger T China Internet Companies Coming To America: OMDO In Merger Talks Business Editors NEW YORK--(BUSINESS WIRE)--May 26, 1999--While U.S. Internet companies slip into a temporary correction, China Internet assets are getting discovered. Omni Doors Inc. (OTC BB: OMDO) today confirmed a rumor that the company is in merger talks with several China Internet companies discussing plans to launch www.WebOfChina.com. Responding to inquiries about the increased trading activities in its stock, the company stressed there is no assurance that any deal can be reached. One of the Internet companies in the talks is a leader in the fast-growing e-business in Beijing, with ambitious goals to become the YAHOO (YHOO), the Excite (XCIT), or the Amazon (AMZN) of China. With one-fourth of the world's population, China is known as the largest consumer market on earth. There are also millions of overseas Chinese all over the world. The e-commerce potential for all those Chinese web users is enormous. There are many small Internet companies in China. But due to the lack of venture capital, there is no dominant web brand in the battle field. This represents a vacuum of new Internet opportunities. Ms. Sophia Yao, CEO of Omni Doors Inc., pointed out: " American capitalists are focused on domestic Internet giants. They seem to be neglecting the mushrooming e-commerce in China. There is a big valuation gap between China and U.S. Internet assets." When she reported the valuation gap to China Premier Zhu Rong-Ji during his visit to New York last month, Ms. Yao said: "To develop Internet assets and web talents in China, we need government support. Our strategic plan is to consolidate a number of leading Chinese websites into a global web brand. We are currently seeking U.S. Internet entrepreneurs and venture capitalists to form a China Internet consortium." Omni Doors Inc. is also studying the web integration strategies of American companies such as Lycos (LCOS), CDNow (CDNW), and Microsoft (MSFT). If those strategies can be successfully applied to China, the growth could be substantial. But the company warned that investors should only put what they can afford to lose into the risky and brand-new territory of China Internet plays. --30--ah/ny* c