SAN DIEGO, Feb. 18, 2004 (PRIMEZONE) -- Global Medical Products Holdings, Inc. (Pink Sheets:GMDP) received on January 31, 2004 the assignment of all rights to a 20 percent participation equity in GlobeLink Capital, Inc. which includes the equity participation in an "Exclusive Agreement" with Beijing Guo Xin Well-tel Technology Co., Ltd., a division of The Ministry of Information Industry, People's Republic of China.
As part of the acceptance of the rights to the participation equity, Global Medical Products Holdings, Inc. agreed to spin off to its shareholders one-half of the stock equity to be received in GlobeLink Capital, Inc., a company formed by JWG Enterprises, Inc., in the form of a stock dividend.
GlobeLink Capital, Inc. was purchased by the EMCO/Hanover Group through JWG Enterprises. It is to be the joint venture company as previously described in a Form 8-K filed with the Securities and Exchange commission on February 12, 2004. GlobeLink Capital, Inc. will handle the business that will be generated by the "Exclusive Agreement" described below. Both EarthNetMedia, Inc. (OTCBB:ENTM) and The EMCO/Hanover Group agreed to assign all respective rights in the "Exclusive Agreement" to GlobeLink Capital, Inc. Matt Fong, the former Treasurer of The State of California, who has extensive experience in the Far East with both Far Eastern and American companies, has agreed to come on board as an advisor to GlobeLink Capital, Inc.
EarthNetMedia, Inc. and The EMCO/Hanover Group previously entered into an exclusive agreement with Beijing Guo Xin Well-tel Technology Co., Ltd., a division of The Ministry of Information Industry, People's Republic of China (Well-tel) to use EarthNetMedia, Inc.'s and The EMCO/Hanover Group's experience and knowledge of the public markets to assist certain companies that Well-tel. feels have a high probability of success. The "Exclusive Agreement" calls for Well-tel., EarthNetMedia, Inc. and The EMCO/Hanover Group to cooperate in developing certain Chinese companies, assisting in their financing and marketing, and arranging for those companies to become publicly traded entities either through reverse merger, spin-off or public offering. In each case, 51 per cent of the ownership of the companies will be transferred to GlobeLink Capital, Inc. through EarthNetMedia, Inc. and The EMCO/Hanover Group.
The first company to be brought to Globelink Capital, Inc. is Hangzhou Trunkingcom Science Technologies Co., Ltd. of Hangzhou City, China (Trunkingcom). Trunkingcom specializes in researching, developing and manufacturing network cluster communication management equipment.
All agreements relating to this press release were included in Form 8-K filed by Global Medical Products Holdings, Inc. with the Securities and Exchange Commission on February 12, 2004.
About Global Medical Products Holdings, Inc.
Global Medical Products Holdings, Inc. is a U.S. based technology company specializing in the development, manufacture, and distribution of cardiovascular and body fluid-related products for the growing worldwide medical market. Global Medical Products Holdings, Inc. focuses 50% of its revenue base in China and 50% in North America and Europe. China represents some 1.3 billion people, twice the population size of North America. It is the only world market leader that has enjoyed an eight percent annual growth in its Gross National Product in recent years and should continued to do so through 2010.
The Company is contemplating increasing its exposure to the global marketplace by assisting small foreign companies arrange for financing and marketing of their products.
The Company maintains a public web site at www.globalmedprod.com.
About EarthNetMedia, Inc.
EarthNetMedia Inc., a U.S.-based multimedia and international marketing company, which produces and distributes home improvement, interior design, and lifestyle television programs aimed at providing a gateway for businesses to enter China's lucrative markets.
"The Art of Living" interior design and lifestyle television series has been broadcast on Beijing television to an audience in excess of 90 million viewers. This program is a vehicle to brand and market merchandise and to endorse selected products of program sponsors and advertisers.
EarthNetMedia is a gateway for U.S. and international businesses to establish their presence in China and to assist firms with the marketing and branding of their products and services. The Company merchandises consumer products via product placement on television, leading our viewers to our website, providing the Company and its shareholders great capital value.
The Company maintains a public web site at www.earthnetmedia.com.