CALGARY, Alberta, March 12, 2002 (PRIMEZONE) -- China Broadband Corp. (OTCBB:CBBD) today announced that it will expand its Internet access initiative throughout the High-Tech Development Zone Area of Chengdu, the capital of Sichuan Province.
"We have decided to expand our Internet access service throughout the High-Tech Park Development Zone, given the small amount of required capital, the strong demand for our service and the fact that in less than five months, this initiative is nearing operational break-even," stated Mr. Matthew Heysel, Chairman and CEO of China Broadband Corp.
Chengdu's High-Tech Development Zone, one of China's largest, covering an area of some 47 sq. km, is host to more than 7,000 enterprises. China Broadband, through its wholly owned subsidiary Chengdu Big Sky Technologies launched Internet access via fibre-optic Ethernet in October, 2001, and over the past five months has deployed service to over 40 major international and Chinese companies.
These customers include East Hope Group; a national chemical and biological manufacturing company operating 63 plants in 16 provinces throughout China; the Ding Ting Group, an international optical communication equipment manufacturer with plants in Japan, USA and Taiwan; Fiberxon Inc., a U.S.-based fibre-optic transmission equipment manufacturer; ZTE Corporation, a national mobile telecom equipment manufacturer; Plenware Group, an international software company; Chengdu CCS Optical Fibre Company, a joint venture between Corning USA and Chengdu Putian Telecommunication Cable Company; Sichuan Maipu Data Communications Company, a national data communication equipment manufacturer; Hexing Securities, an investment bank operating some 22 regional offices; Sichuan Bai Li Group, a national pharmaceutical company; Chengdu A-Info Company, a GPS research company; and the administrative offices for the Chengdu High-Tech Development Zone. The combined annual GDP of these enterprises is more than US$7 billion.
"We have mastered the art of deploying high-quality, high-speed data communications in China, and have developed a reputation for delivering a reliable, affordable service here in this High-Tech Park," stated Mr. Phillip Chen, Manager of Chengdu Big Sky Technologies, "It is this reputation which has enabled us to gain the trust of such notable customers."
"In addition to providing Internet access, we also provide many value-added services including virtual private networking, which allows instant, seamless and secure communications with a customer's satellite offices, or headquarters abroad," said Mr. Rich Lam, Vice President Network Engineering.
About China Broadband
China Broadband is a leading broadband Internet provider in China. The Company, through its operational subsidiary Big Sky Network Canada Ltd., forms co-operative joint ventures with municipal network providers to enable affordable, reliable, high-speed Internet access. The Company launched its first deployment in Shenzhen over the hybrid fibre cable television network; the first launch of two-way commercial Internet access in China. The Company has also launched Internet access on the cable television network in Chengdu, Sichuan, and via a metropolitan area network in a Chengdu Hi-Tech Park. The Company has also executed agreements to enable Internet access in several cities, including Shanghai and Beijing, and throughout the provinces of Hunan and Fujian. The Company has also entered into an agreement with Jitong to provide a fixed wireless solution throughout China over Jitong's existing city-specific and country-wide spectrum.
Under these joint ventures, the Chinese partner contributes the exclusive access to the existing network, while the Company contributes the required capital, management and Internet technology to enable Internet access once all government approvals are received.
For further information please view our website at www.chinabroadband.com or contact:
Matthew Heysel Chief Executive Officer Kurt Johnson China Broadband Corporation Armor Capital Partners Tel: 403.234.8885 Tel: 604.684.2213 Fax: 403.265.8808 Fax: 604.684.2208 ir@chinabroadband.com Kurt@armorcapitalpartners.com
Note: The information contained in this press release contains "forward-looking statements" within the meaning of the U.S. Federal Securities Law. Such statements are based on the current expectations of the management of China Broadband Corp. only, and actual results may differ materially. For a more detailed discussion of risks and other factors related to China Broadband please refer to its 10-KSB and 10QSB reports filed with the U.S. Securities and Exchange Commission.