SHANGHAI, Aug. 9, 2005 (PRIMEZONE) -- China Digital Wireless, Inc. (OTCBB:CHDW), a leading distributor of mobile phones and value-added information services to users of mobile phones and pagers in Shanghai, People's Republic of China, announced today that it has decided to seek listing on the American Stock Exchange and, if approved, will request that AGS Specialists, LLC be its specialist firm.
The Company believes that achieving a listing on the American Stock Exchange would offer substantial benefits to the Company and its shareholders. These include the advantages of having a specialist as a dedicated liquidity provider to assist in the maintenance of a fair and orderly market in the Company's stock.
Further, the Company is pleased to have the opportunity to work with AGS Specialists, LLC which has historically demonstrated the capability to serve as a strong specialist unit and will continue working closely with the Company if the listing application is successful and the Company is listed on the American Stock Exchange.
"We believe that it is in the best interests of the shareholders of China Digital Wireless to seek listing on the American Stock Exchange," said Mr. Tai Caihua, Chairman of China Digital Wireless. "We appreciate the willingness of AGS to assist us in understanding the application process and we look forward to working with AGS if our listing application is successful."
Roland Savage of AGS Specialists, LLC said: "AGS welcomes the opportunity to get acquainted with China Digital Wireless and we look forward to providing any assistance we can as they begin the application for listing process. If they achieve listing on the American Stock Exchange we will expect to provide them the same high level of services we provide our other clients."
About China Digital Wireless, Inc.
China Digital Wireless provides wireless users in China access to financial information, and various entertainment-related services via their mobile phones. By bundling its financial information software with the wireless phones it markets, the company is building a recurring high-margin subscriber base. China Digital Wireless intends to grow revenues by expanding its subscriber base, adding additional value-added fee-based services, and increasing its installed based of TV monitors used as a novel advertising medium. In addition, China Digital Wireless distributes various mobile phone models in the Shanghai, China region.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.