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CCCI Initiates IP TV and IP Telephony Joint Venture
Agreement
Joint Venture Structured to Reach Additional 1.1 Million Subscribers
BEIJING April 20 /Xinhua-PRNewswire-FirstCall/ -- China Cable and
Communication, Inc. (OTC:CCCI) (BULLETIN BOARD: CCCI) , a leading China-based
cable TV company is pleased to announce they have entered into an additional
joint venture between their part-owned company Beijing Jin Zhi Cheng ShangMao
Limited Liability Corp. and Zhong Dian Tong (Beijing) Digital TV Development
Co. Ltd, the second largest company selling cable modem and head-end servers in
China. This joint venture will allow CCCI to reach an additional 1.1 million
cable TV subscribers, crossing over 4 Chinese provinces. Under this agreement,
CCCI will use these provinces as a pilot launch and will replicate its services
to their own provinces over the coming three years.
Services which will be developed and provided are:
-- Basic Service: Subscribers will be able to connect to the broadband
internet via Cable TV (HFC) backbone network. Under this subscription,
charges will apply in the form of recurring fees, which can be paid
monthly, semi-annually, or annually.
-- Value Added Services: Subscribers can receive IP TV and IP Telephony
(VOIP) through the broadband internet network. The broadband internet
network will operate through the cable TV (HFC) backbone.
China Cable Communication's joint venture agreement will be valid for one year.
After the one year market development trial period, both parties involved will
have the option of executing a 30 year joint venture agreement. If the parties
choose not to enter into an expanded business contract, the current agreement
will continue to be valid in the cities that have entered into a three-way
joint venture agreement.
Gareth Tang President and CFO of CCCI stated, "We are excited about the
direction in which our company is headed. We've identified a large, untapped
cable TV market in China and will continue to create joint ventures, improve
our services, and expand our subscriber base to meet those needs." Mr. Tang
continued, "We are dedicated to strategically building our company for long-
term growth, and as cable technology enters into new provinces, we will be in
the forefront of providing our services.
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 its 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, provide 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 owns interests
in a PRC cable television network.
For additional information please contact Investor Relations at (973) 351- 3868
or visit the website at http://www.chinacable.us/ .
Safe Harbor Act Notice
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. Some of these include, but
are not limited to, our availability of capital, political occurrences and
events in China, the terms of our 8% convertible preferred stock, operations of
the Baoding joint venture, demand for the products of the Baoding joint
venture, the economy of China, and other factors. 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 hereof. Readers should
carefully review the risks described in other documents the Company files from
time to time with the Securities and Exchange Commission, including Amendment
No. 1 to the Form SB-2 registration statement filed with the Securities and
Exchange Commission on December 8, 2003, the Annual Report on Form 10-KSB for
the fiscal year ended December 31, 2003, as well as the Quarterly Reports and
Current Reports on Form 8-K by the Company.
Contact Information:
Stephen Taylor, Investor Relations,
China Cable and Communication, Inc.
Tel: +1-973-351-3868
Email:
DATASOURCE: China Cable and Communication, Inc.
CONTACT: Stephen Taylor, Investor Relations of China Cable and
Communication, Inc., +1-973-351-3868, or
Web site: http://www.chinacable.us/