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Telecommunications Industry News
Recent Newswire Stories from PRnetwire™ and eNewsChannels.com™

Edited by Christopher Simmons, senior news editor


CITY NETWORK ANNOUNCES THE SIGNING OF COOPERATION AGREEMENT WITH CHINA'S PUTIAN

TAIPEI, Taiwan - (Send2Press Newswire) - Oct. 16, 2003 -- City Network, Inc. (OTC BB: CYNW) is proud to announce the signing of an exciting new cooperation and sales contract with the Beijing subsidiary of the firm China Putian, one of the largest corporations in Mainland China (www.china-putian.com.cn). Together with China Putian, City Network will utilize over 600 retail sales centers already established across China to promote and distribute its ADSL, VDSL and wireless Internet equipment and components.

Recently, City Network sent Ms. Alice Chen, one of the company's directors and top managers, to Beijing to direct the new joint effort with China Putian.

City Network plans to focus much of its development effort and product offerings on Beijing and the entire greater China market. In an effort to rapidly facilitate the start of this cooperation, City Network has already received orders for large quantities of ADSL equipment as well as begun shipping other items to China's capital city Beijing. The two companies estimate that in the year 2003, the join venture could reach a goal of as much as ten million U.S. dollars in total sales.

"It is a remarkable step in our effort to expand sales and raise company profit," said project manager and company representative Alice Chen, "we see the chance to cooperate with such a well-known and established firm as China Putian as substantial progress in our company's own sales goals."

China Putian was one of the top ten corporations in all of China in sales volume and managed over sixty-four billion RMB in total revenue (8 billion U.S. dollars). With this caliber of joint venture partner City Network feels that its move into China will allow it to achieve greater stability and will doubtless provide tremendous business opportunity in the world's largest consumer market.

"With this type of partnership, we feel that City Network could easily become China Putian's primary supplier of Internet hardware and networking components," commented the company's spokesperson, "if things progress as planned, we possibly could see considerable monthly revenues from this cooperation alone."

About China Putian
CHINA PUTIAN CORPORATION is an IT products and service provider in the telecommunication industry. The company was founded in 1980, originally called China Posts and Telecommunications Industry Corporation, and successively affiliated to the Ministry of Posts and Telecommunications and the Ministry of Information Industry. At the end of 1998 it became a large enterprise directly under the leadership of the central government. The company owns over 50 companies directly invested by the headquarters, which include 5 listed companies. There are over 54,000 employees. It was No. 1 of the top 100 Chinese Electronic & Information Enterprises in 2001 and 2002. It ranks 10th overall among the list of China's largest enterprise groups.

About City Network
City Network, Inc. designs, manufactures and markets a comprehensive line of broadband and wireless Internet access solutions. The Company is positioning to capitalize on what it believes to be vast underdeveloped and overlooked new and emerging growth Internet markets. The company's product line ranges from the City Network HPNA device for the blooming worldwide residential building and hospitality market to the simple DSL bridge/modem for the home and small business user. Currently, City Network Home PNA and xDSL broadband access equipment is widely deployed by major telecommunication carriers, ISPs, and System Integrators worldwide.


Organization Website: www.citynetwork.com.tw
Source of News: City Network, Inc.

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Taiwan Business Newswire / Telecom Industry Newswire
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