China Cable and Communication Announces First Consolidated Financials

China Cable and Communication Announces First Consolidated
Financials 


BEIJING, June 1  /PRNewswire-FirstCall/ -- China Cable and Communication, Inc.
(OTC:CCCI) (BULLETIN BOARD: CCCI)  today announced its financial results for
the first quarter of 2004, which beginning on January 1, 2004 have included
consolidation with results of the Baoding Joint Venture.  The Company recorded
net revenues of US$933,751, as compared with net revenues of US$ Nil for the
first quarter of 2003.  For the first quarter of 2004, China Cable and
Communication recorded a net loss of US$1,681,382, corresponding to a loss of
$.02 per share based on 72,412,936 shares outstanding.  Since the end of the
fourth quarter of 2003, the Company has accounted for the Baoding Joint Venture
as a subsidiary. For the first quarter of 2003, the Company had a net loss of
$3,215,661 corresponding to $0.06 per share, based on 53,286,289 shares
outstanding.

Gareth Tang, President of China Cable and Communication stated, "We are very
pleased with our quarterly results as well as our efforts to consolidate the
Company's financial statements with those of the Baoding Joint Venture. This
avoided China Cable and Communication having to increase its equity ownership
in the joint venture by acquiring additional equity from the other Baoding
Joint Venture partners, which would have resulted in an estimated cash
expenditure to China Cable and Communication of at least US$1.5 million.

As a result of the ability to consolidate the Company's financial statements
with those of the Baoding Joint Venture, the Company has suspended its
negotiations to acquire an additional 2 percent interest in the Baoding Joint
Venture, which the Company anticipates would have required a cash purchase
price of at least $1.5 million.   We believe that our being able to consolidate
the financials without the expenditure of cash is very positive for the Company
and for our shareholders."

China Cable and Communication has previously announced that it had successfully
negotiated to have its representatives hold a majority of the Board of Director
seats of the Baoding Joint Venture, as well as being able to appoint key
management of the joint venture.

Mr. Tang also stated, "Not having to expend approximately US$1.5 million to
increase the Company's ownership in the Joint Venture will enable us to look
for other synergistic opportunities.  We believe that the most important factor
in all of this is that consolidated financials should enable China Cable and
Communication to accelerate its change in its listing from the OTC Bulletin
Board to the American Stock Exchange in the United States, as the consolidated
financial statements are a key step in meeting the Exchange's listing
requirements."

About China Cable and Communication Inc.,

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. [phone]

   Dara Podber
   Managing Director of Friedland Capital Inc.
   Tel. [phone].
   (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., [phone]; or Dara Podber, Managing Director of

Friedland Capital Inc., [phone], (Friedland Capital Inc. is the US

Corporate Finance Advisor to China Cable and Communication, Inc.)



Web site:  http://www.chinacable.us/ 

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