China Cable and Communication Intends to Provide VoIP Services in Additional Areas of China
April 21 2004 - 9:55AM
PR Newswire (US)
China Cable and Communication Intends to Provide VoIP Services in
Additional Areas of China BEIJING, April 21 /PRNewswire-FirstCall/
-- China Cable and Communication, Inc. (BULLETIN BOARD: CCCI) , a
leading China-based cable TV company, today announced it intends to
continue to expand its service offerings by providing Voice over
Internet Protocol (VoIP) services in a number of areas of China. On
March 9, China Cable announced that its 49%-owned Baoding Network
had entered into a joint venture agreement with a major Chinese
telecommunications company to provide VoIP services in Baoding
City, with a marketing campaign to commence in June 2004 and
commencement of service scheduled for August 2004. Subsequent to
the original VoIP announcement, China Cable had preliminary
discussions concerning the possibility of a joint venture with
another major telecommunications company to provide VoIP services
to a number of other areas of China. Although these discussions are
preliminary and there is no assurance that a definitive arrangement
will occur, China Cable's Board of Directors has determined,
without any guarantee that China Cable will be able to do so, to
undertake to provide VoIP to a number of areas of China through
this or other strategic alliances. China Cable believes it will be
able to do this on a joint venture basis with a major
telecommunications company partner - -- although there is no
assurance that this will occur. Gareth Tang, President of China
Cable and Communication said, ` `We believe the most significant
aspect in providing voice over IP will be in providing very
affordable long distance telephone services for our customers. As
our cable television offerings continue to expand, bringing the
sights and sounds of the world into China, we believe now is the
right time to provide our customers with another very useful
communications tool. Not only will our customers be able to
communicate more effectively in China, but also worldwide, if we
are successful in providing them with VoIP. Of course, there is no
guarantee we will be successful in providing VoIP.' ' Mr. Tang
continued, ` `There were over 100 billion long distance minutes
used in China last year, but a rather small percentage of those
calls were made to numbers outside of China. If we are successful
in providing voice over IP services, we will be able to expand our
customers' international dialing capabilities by providing these
services at very favorable rates.' ' VoIP has become the fastest
growing service in China's entire telecom industry, with some
analysts forecasting it will capture up to 30% of China's
long-distance market this year. Voice over IP provides for the
transport of telephone calls over the Internet, no matter whether
traditional devices, multimedia PCs, or dedicated terminals take
part in the calls. Mr. Tang concluded, ` `Again, the greatest
factor in the growth of voice over IP services is the significant
cost-savings in transporting phone calls over the Internet. We're
very excited about our plans to be offering this new service in
Boading City and then perhaps other areas of China.' ' About China
Cable and Communication China Cable and Communication, Inc. is a
China-based cable TV company. Through its British Virgin Island
subsidiary, the Company is the first foreign company to own and
operate a cable television network in China. Located 85 miles south
of Beijing, the network currently offers 39 channels within the
Baoding city limits and eight additional channels to outer areas in
the Baoding metropolitan area. It transmits in both analog and
digital over its fiber optic network and through 22 substations.
With its fiber optic network, Baoding network is capable of
transmitting 37 analog television programs, six digital signals and
one FM music program. In addition to its cable television
transmission services, Baoding network offers Internet access and
value added services, such as broadband Internet access and on-
demand services through our proprietary set-top boxes. China Cable
and Communication is well positioned as a foreign investor approved
by The State Administration of Radio, Film and Television
("SARFT"), China's national regulatory authority for the
broadcasting industry, to own interests in and provide operational
management support to cable television networks in the People's
Republic of China (PRC). The SARFT approval, together with the
trading of CCCI's common stock in the US, provides CCCI with a
favorable advantage in access to foreign capital. China Cable and
Communication, Inc. trades in the United States, under the ticker
symbol CCCI, in order to provide U.S. investors with the
opportunity to invest in a company that own interests in a PRC
cable television network. For more information, please visit
http://www.chinacable.us/. Forward Looking Statement The
forward-looking statements contained herein are subject to certain
risks and uncertainties that could cause actual results to differ
materially from those reflected in the forward-looking statements.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's analysis
only as of the date hereof. The company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date thereof. Readers should
carefully review the risks described in other documents the company
files from time to time with the Securities and Exchange
Commission, including the Annual Report on Form 10-KSB for the
fiscal year ended December 31, 2003, as well as the Quarterly
Reports on Form 10-QSB and Current Reports on Form 8-K. CONTACTS:
George Raney Executive Director of China Cable & Communication,
Inc. Tel. 1-310-301-0082 Dara Podber Managing Director of Friedland
Capital Inc. Tel. 1-201-420-7437. (Friedland Capital Inc. is the US
Corporate Finance Advisor to China Cable and Communication, Inc.)
DATASOURCE: China Cable and Communication, Inc. CONTACT: George
Raney, Executive Director of China Cable & Communication, Inc.,
+1-310-301-0082; Dara Podber, Managing Director of Friedland
Capital Inc., +1-201-420-7437 Web site: http://www.chinacable.us/
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