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China Cable and Communication Anticipates Strong Growth in
2005
BEIJING, Feb. 23 /Xinhua-PRNewswire-FirstCall/ -- China Cable and
Communication, Inc. (OTC:CCCI) (BULLETIN BOARD: CCCI) , a leading China-based
cable TV company President and CFO, Mr. Gareth Tang, speaks about the companies
objective and focus for 2005.
'As we begin 2005,' stated Mr. Tang, 'We're encouraged by the progress we
made and lessons learned in 2004. In addition to our plans of increasing our
equity stake from 49% to 52%, we are investing in CATV system upgrades. These
upgrades will allow us to deliver additional value-added services like
'always-on-line" internet access, multiplayer gaming capabilities, video and
music on demand, and other broadband content offerings.'
Mr. Tang continued, 'At present, the current value of the Chinese digital
television market is approximately $34 billion. Cable television is currently
viewed in only about 20% of the households in China. Compare that to greater
than 70% in the United States and one can see how much growth lies ahead. By
mid-year, we anticipate finalizing a 49% equity investment in one of the
largest fiber-optic backbones in China."
In June 2004, the company entered into an agreement to acquire a 49% interest
in Zhongminjing Technology Development Co., Ltd. Their fiber-optic network
currently spans more than 20,000 miles, serving 410 cities throughout 23
provinces in China.
'Through this vast fiber network, we'll be able to dramatically expand our
reach, as well as our service offerings,' continued Mr. Tang. 'In addition
to using this network to deliver our own content, we'll be seeking other
broadband service providers, private corporations, and governments interested
in leasing bandwidth on this network. In short, we have our sights set on
becoming one of China's most important broadcast and telecommunications
companies, and this fiber backbone is a key piece to that plan.'
The company will also look to increase its market share of set-top cable boxes
by marketing them directly to other CATV network operators.
'Some of our longer-term goals include offering Voice over IP (VOIP) services
on our network, acquiring additional subscriber networks, and upgrading those
networks to the CATV HFC standards, which will enable them to deliver new and
advanced, feature-rich content to their current subscribers."
Mr. Raymond Kwan, CEO of China Cable Communication, Inc. said, 'The current
Chinese digital television market is the fastest growing broadcast market in
the world. The management team has the experience, know-how, and relationships
to become one of the largest backbone service providers in China. We are
looking forward to a very prosperous and exciting 2005.'
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/