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Press Release Source: China Cable and Communications Inc. China Cable and Communications Changes Trading Symbol to CCCI Thursday July 10, 1:47 pm ET HONG KONG--(BUSINESS WIRE)--July 10, 2003--China Cable and Communications Inc. (OTCBB:CCCI - News), formerly with a trading symbol of NIFL, today announced that its trading symbol has been changed to CCCI, trading on the OTC Bulletin Board. The new trading symbol is consistent with the company's name change announced yesterday. CCCI currently has a 49% equity interest in Baoding Pascali Broadcasting Multimedia Transmission Networking Co., Ltd. (Baoding). That company, established in the People's Republic of China (PRC), operates a cable TV network in the municipality of Baoding, near Bejing, in the PRC. This joint venture company has more than 200,000 subscribers in a market with a population of more than 10 million. The company currently offers 39 channels within the Baoding city limits and eight additional channels to outer areas in the Baoding metropolitan area. It transmits in both analog and digital over its fiber optic network and through 22 substations. In addition to its cable television transmission services, the joint venture also offers Internet access, and anticipates that it will be able to offer value added services such as broadband Internet access, virtual private network and bulk data transmission services by the end of 2003. In order to effectively grow its subscriber base, CCCI plans to provide 24-hour customer services to its subscribers, provide superior technical performance and increase its current product and service offering. It also plans to increase its ownership level in the joint venture company to 51% as soon as possible and terms for that have been agreed upon. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended Oct. 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company. -------------------------------------------------------------------------------- Contact: China Cable and Communications Inc. Gareth Tang, 852-2891-3130 -------------------------------------------------------------------------------- Source: China Cable and Communications Inc. | ||||||||||||||
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