VANCOUVER, B.C., Jan. 6, 2004 (PRIMEZONE) -- Cinema Internet Networks Inc. (d.b.a. "CinemaWorks") (TSX Venture Exchange:CWK), a Canadian provider of Internet equipment and services specializing in the hospitality market, reports revenues of US$520,000 as of year end, July 31, 2003. This is an increase of 74% over 2002. The company also increased its hotel customer base from 13 to 33 hotels during this same period.
"The demand for high-speed Internet access in the hospitality industry is booming," said Bill Massey, CEO of CinemaWorks. "This service is quickly becoming a required amenity that top rank hotels must provide to remain competitive."
CinemaWorks operates two hospitality business models: (1) The primary model requires the hotel to purchase the Internet equipment and then pay CinemaWorks an ongoing fixed fee for monthly Internet services (network operations, help desk, system maintenance and warranty). Broadband Internet connectivity may be purchased from CinemaWorks or the hotel provides its own. Under this model, the hotel solely determines pricing of the Internet services to guests and keeps 100% of the revenue generated by the Internet services. (2) With the Company's second business model, CinemaWorks makes a substantial capital equipment investment in the hotel's Internet system and provides an unlimited equipment warranty and ongoing monthly services (network operations, help desk, system maintenance and warranty) in exchange for a major percentage of the revenue generated by hotel guests using the broadband services. Under this model, CinemaWorks typically charges guests $9.95 - $12.95 per day for a high-speed connection to the Internet.
Cinema Internet Networks Inc. (d.b.a. CinemaWorks) is a public company incorporated in Canada. Its shares trade on the TSX (TSX Venture Exchange) under the ticker symbol "CWK". The Company has three main areas of focus over the short and long term: 1) value-added high-speed (broadband) Internet equipment and services; 2) wireless broadband Internet services; and 3) distribution of broadband Internet content including VoIP and entertainment.
For information on the company call 1-604-602-1280, or visit our website at www.cinemaworks.com
On behalf of the Board
"Bill Massey"
President & Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.