TAIPEI, Taiwan, May 19, 2003 (PRIMEZONE) -- City Network Inc. (OTCBB:CYNW) is pleased to announce that audited results for 2002 are even better than expected. City Network has exceeded its sales estimate of NT$173m (US$4.9m) by 46% to N$253m (US$7.2m). "This is positive proof of the business momentum in the broadband Internet equipment industry, our strong brand name and reputation in the marketplace, as well as the effectiveness of our strategy of internationalization" according to Alice Chen, company spokesperson. "We feel that our growth plan for 2003 is going according to schedule and will represent the best year for the company since its founding in 1994."
About City Network
City Network, Inc. designs, manufactures and markets a comprehensive line of broadband and wireless Internet access solutions. The Company is positioning to capitalize on what it believes to be vast underdeveloped and overlooked new and emerging growth Internet markets. The company's product line ranges from the City Network HPNA device for the blooming worldwide residential building and hospitality market to the simple DSL bridge/modem for the home and small business user. Currently, City Network Home PNA and xDSL broadband access equipment is widely deployed by major telecommunication carriers, ISPs, and System Integrators worldwide.