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Re: Qinman post# 49

Monday, 02/03/2003 2:16:12 PM

Monday, February 03, 2003 2:16:12 PM

Post# of 53
NEWS !!! Baker becomes President and CEO !

LOS ANGELES, Feb 3, 2003 (BUSINESS WIRE) -- Q-NET TECHNOLOGIES, INC., (QNTI) (Frankfurt:QNO) is pleased to announce the appointment of Mr. James D. Baker as its New President and Chief Executive officer.

Mr. Baker has been serving on the board of directors for Q-Net Technologies (Q-Net) since August of 2002, and has held a number of board and executive positions in a number of start-ups and early stage companies while also having been involved as a founder and entrepreneur's entrepreneur in assisting others to develop their companies to success. Most recently, AegiSoft Corporation, a digital rights Management Company that was acquired by Real Networks Inc. at the end of 2000.

Prior to joining Q-Net, Mr. Baker was President and a director of Targitinteractive Inc, a leading interactive marketing services provider, where he remains a board member.

Mr. Baker has been involved with integrated computer systems and cutting edge technology for over 30 years and has been responsible for raising over $30,000,000 for the 6 companies he was involved with in the very early stages usually as either as a founder or co-founder.

Mr. Weiguo Lang, Chairman of the board of directors for Q-Net said, "Since Mr. Baker's appointment to the board the company has benefited greatly from his experience and this has helped guide us in some significant areas of our business. His ability to move and communicate within technological business circles has helped us achieve a number of significant developments for the company which we feel will bear significant fruit for the company and its shareholders as we continue our growth under his guidance. Having said that, and then considering his previous experience within the Chinese business environment the board of directors saw it as an obvious and natural transition for Mr. Baker to take over the role of CEO and President."

In 1995 through 1997 Mr. Baker was Chairman and director of International Pressure Vessel Inc, (IPV). IPV held the global technology transfer rights on a Chinese technology, superior to any other pressure vessel technology throughout the world today, which required him to work closely with Chinese agencies and government officials on a regular basis. He is very familiar with Chinese business practices and maintains close relationships with his network of associates in China.

"I am excited to find such an exciting opportunity that takes me back to China with a young aggressive company that has developed technology that I personally think will be a staple for the Chinese educational market with Q-Net's multi functional electronic reader, the "Q-Reader," and provide a serious alternative to the PC market within the Chinese business environment with Q-Net's Thin Client Server computing solution. Q-Net's ability to introduce one of the world's lowest cost Thin Client Server products to the Chinese market in conjunction with major US Software Firms is a magnificent opportunity. Both of these product lines will ultimately have worldwide opportunities, as our cost structure will make us a force to be reckoned with. The people and the products Q-Net has been working with and on are the reasons I'm here," said Mr. Baker.

Q-Net Technologies, Inc. is a California based publicly traded holding company with a focus on the introduction of consumer technology and value added Internet services into the Chinese market.



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