¶ Great XNET NEWS: Xin Net Corp. - Form 10SB Clears SEC Comments...
VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 5, 2000--The Board of
Directors of Xin Net Corp. (Pink Sheets:NQB) announces that the
Securities and Exchange Commission (SEC) has accepted the Form 10SB
revision filed on August 22, 2000 and the 10SB is cleared of comments
now.
Xin Net has begun the process of seeking reinstatement for trading
on the National Association of Securities Dealers Over-the-Counter
Bulletin Board (NASD OTC BB).
Furthermore, the second phase of registering new service
subscribers in China through the agreement announced on February 1st,
2000 has started. Xin Net expects this phase to be as successful as
phase one in March 2000. Management believes that customer base,
presently reaching over 300,000, will increase significantly by the
end of the registration period.
Xin Net provides Internet access and content (www.xinnet.com.cn),
online domain name registration, website hosting, design & management
(www.ChinaDNS.com and www.paycenter.com.cn) and e-commerce solutions.
It currently operates in Beijing, Chengdu, Guangzhou, Shanghai and
Shenyang in Mainland China. Its customer base has grown to over
300,000, including domain name registrants. The Company also provides
domain name registration services and e-commerce solutions in Hong
Kong.
Any forward-looking statement in this press release is made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
risks and uncertainties including, but not limited to, economical and
political factors, developments of the Chinese Internet market and
changes in regulatory matters. The Company disclaims any obligation to
update any such factors or to publicly announce results of any
revision to the forward-looking statements contained herein to reflect
future events or developments.
ON BEHALF OF THE BOARD OF DIRECTORS
(Signed) Marc Hung, President
--30--jsk/in*
CONTACT: Xin Net Corp.
Marc Hung, President or Ernest Cheung, Director
Tel: 604/632-XNET (9638)
Fax: 604/689-7654
www.xinnet.net
investors@xinnet.net
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