FORT LAUDERDALE, FL, July 13, 2005 (PRIMEZONE) -- Dragon Venture (Pink Sheets:DRGV), a holding company of high-tech companies in China, announced today that Shanghai Cnnest Technology Development Company, Limited ("Cnnest"), a subsidiary of DRGV, recently launched two new commercial mobile Internet business solutions, "Mobile Environmental Protection Office System" and "Mobile Administrative Office System," based on 2.5G wireless technology.
Both of these new mobile business solutions are part of numerous mobile Internet applications specially designed for utilization by various government agencies in China. This launch was a stated goal of Cnnest in 2005 and accomplished on time. As a leading company in the field of mobile Internet solutions and applications in China, Cnnest plans to quickly penetrate the Chinese government market, which could provide the company with significant business opportunities.
"Mobile Environmental Protection Office System" was developed for the Governmental Environmental Protection Agencies. "Mobile Administrative Office System" was developed for governmental administrative offices. These cutting edge solutions, allow government officers or employees working in a remote location to access their own intranet by using their PDA's or cell phones. Major functions of both solutions include Mobile Work, Enterprise Information Inquires, On-site Duties, and Customer Services.
Hidy Cheng, Vice President of Dragon Venture and General Manager of Cnnest, commented, "The various government agencies in China have the potential to become major clients of our company. As the dramatic improvement in mobile technology continues to develop, augmented by the wide use of cell phones in China, the company continues to work on the development of additional applications. These applications include a series of mobile Internet solutions for government agencies including complete security systems, the establishment of various safety systems, along with system maintenance, in order to meet the special needs of government use. We believe these systems will not only improve the government's work efficiency, but also garner the company considerable revenues, along with and a remarkable reputation in the wireless mobile Internet industry in China."
About Dragon Venture
Dragon Venture ("Dragon") is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. The current focus of Dragon is on the development of wireless 3G-based applications and business solutions. Two companies that Dragon has acquired are among the leading providers of mobile Internet applications and business solutions in China. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger and acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Our focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and Chinese companies, focusing on emerging technology industries including Telecommunication, Information Technology, Wireless applications, and other high-tech industries. For more information about Dragon Venture, please visit http://www.dragonventure.net
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets.