Chun Can Capital Group (CNCN)

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CinTel Corp. Receives Approximately $2.1 Million in Convertible Notes
Tuesday November 22, 10:45 am ET


LOUISVILLE, KY--(MARKET WIRE)--Nov 22, 2005 -- CinTel Corp. ("CinTel") (OTC BB:CNCN.OB - News), a leader of Internet traffic management solutions, today announced that on November 17, 2005 it received approximately $2.1 million in an investment from a group of supportive investors in the form of convertible notes, convertible to the common stock of the company at $0.14 a share, more than 20% premium to the closing price of the stock of $0.115 on that day. (Please refer to the related 8-K filed on November 21, 2005). Although the convertible notes will be convertible into approximately 15 million shares, CinTel hopes to translate this private investment to help with more invigorated marketing and sales result in 2006.
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While CinTel is leveraging its network solution and product/marketing alliance with Hyundai HDS for greater sales and is solidifying its position as a leading network solution company, CinTel will be able to capitalize on a wider range of new business opportunities thanks to this increased capital base. "We are very pleased that so many investors have shown interest in investing in CinTel. We were over-subscribed for this round of convertible notes by several times, but we only received the amount of money that we need," said Sang-Don Kim, President and CEO of the Company. "CinTel will use the proceeds from the convertible notes sales to pay down high-interest debt and to provide sufficient funds for a variety of new high ROI projects. In my view, this funding was more than just simple value-investment by investors; rather, it was enabled by investors who firmly believe that CinTel's future is extremely bright, that it can deliver on its publicly stated goal of realizing $12 to $14 million of revenues in the last quarter of this year and that CinTel's future lies beyond the OTCBB market. The management team feels a greater degree of responsibility to all of our shareholders and will focus more on maximizing shareholder value," he added.

About CinTel Corp.

CinTel Corp., while based in the U.S., has its main business operations in Korea that provide enterprise technology solutions to deliver faster internal and external network service. It is a company devoted to providing software and hardware solutions that provide faster Internet service. Founded in 1997, CinTel introduced Korea's first dynamic server load balancer, which has now evolved into a world-class product. CinTel's award-winning Internet Traffic Management (ITM) solutions are marketed to customers worldwide, enabling the Company's customers to improve Internet traffic management, service levels and user experience. CinTel maintains its position as a leader in Internet Traffic Management through continuous research and development efforts. CinTel is also a recognized leader in Content Delivery Network (CDN). CinTel offers a comprehensive line of advanced Internet traffic management solutions and system performance improvement solutions that help network operators meet the growing need to manage web access, secure content, improve users' experiences, and reduce server loads and bandwidth demands. For additional information, please visit: www.cintelcorp.net or contact J.D. Sparks, 502-657-6077 (O), 502-693-8022 (C), [e-mail].

Safe-Harbor Statement

This press release may contain statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.



Contact:
Contact:
J.D. Sparks
502-657-6077 (O)
502-693-8022 (C)
[e-mail]
http://www.cintelcorp.net


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Source: New Century Companies, Inc.