HONG KONG and LOS ANGELES, April 14, 2005 (PRIMEZONE) -- Alpha Spacecom, Inc. (OTCBB:ASPC), a China-based entertainment Company converting movie theaters and multi-cinema complexes to digital projection, announced that it has completed the conversion of 100 theaters to digital format, on schedule and in anticipation of the signing of its landmark Joint Venture later this month. The signing of the Joint Venture will take place at a ceremony attended by high ranking Chinese government officials, vendors and Alpha Spacecom / China Film Group Management.
Terence Sien, Chairman and CEO of Alpha Spacecom, pointed out that the Company will have digitized 400 cinemas by 2006, enabling the people of China to enjoy the benefits of digital entertainment through the creation of the Chinese entertainment industry and production of domestic content, as well as enhancing the movie going experience as a whole. According to Mr. Sien, "There are 100 million cable users, 200 million cable dish ready to accept our programming. When our deal is signed, it will be a great day for the entertainment industry, a great day for Alpha Spacecom and China Film Group and a great day for the Chinese people."
About Alpha Spacecom, Inc.
Alpha Spacecom, Inc. is a registered United States (Colorado) corporation traded on the OTC Bulletin Board (Symbol: ASPC). Alpha Spacecom is engaged in the research and development of technology and systems conversions related to the reconstruction and digital conversion of movie theaters and multi-cinema complexes and the satellite distribution of entertainment media (film, theater, live music and sporting events) in China. (www.alphaspacecom.com).
Safe Harbor Statement:
This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-KSB as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.