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INTAC International Launches www.phrbank.com Website for
Integrated Recruiting and Professional Training Services in China
HONG KONG, Nov. 9 /PRNewswire-FirstCall/ -- INTAC International, Inc. (Nasdaq:
INTN; FSE: WKN 805768), a provider of a full-range of career development
services to Chinese students through Beijing Intac Purun Educational
Development Ltd. ("Intac Purun"), its joint venture with China's Ministry of
Education, today announced the launch of http://www.phrbank.com/ . This website
integrates recruiting and professional training services in China for large
companies with their increasing demands for new employees. The redirected
emphasis for Intac Purun's other internet portal, Joyba.com
(http://www.joyba.com/ ), will be lifestyle and entertainment information for
Chinese students.
Intac Purun has combined its recruiting and professional training services in
China. Intac PHR Bank (professional human resource bank) is an integrated
program of placement, search, campus recruiting and professional training
services for enterprises. The service is designed for international and
Chinese companies that need to hire large numbers of new employees. "In China
there are more than 1,600 universities with approximately 14 million students
of which approximately 3.4 million will enter the job market in 2005," said Wei
Zhou, Chairman and CEO of INTAC. "Finding the right people through traditional
recruiting methods has overstretched even the capacities of big companies.
That's why in China, there is a need for completely new and innovative
recruiting methods."
"Intac PHR Bank's services deliver a win-win-win situation for companies,
university students, and the Ministry of Education," added Mr. Zhou. "Companies
are able to recruit qualified employees needed to build their Chinese
operations; students can find good jobs that fit their career interests; and
the Ministry of Education is able to increase the employment rate of new
university graduates."
At present, international enterprises like Cisco, Lucent and UT Starcom as well
as other large Chinese companies like Lenovo profit from the services offered
by Intac PHR Bank. These services include access to a database of more than 3
million students, recruiting events on university campuses and professional
training programs that are designed to train students to meet the demands of a
specific company. To meet these demands, Intac Purun has established, so far,
11 Career Service Centers on the campuses of leading universities and expects
to increase this number to 20 during 2005. "In China, in addition to
collecting job applications, you also must offer training for professional and
interpersonal skills, that universities do not provide," said Mr Zhou.
INTAC plans to integrate recruiting and training information offered through
Intac PHR Bank at approximately 1,000 universities within China over the next
three years.
The Company's annual report on Form 10-KSB for the year ended December 31, 2003
and quarterly report on Form 10-Q for the quarter ended June 30, 2004 may be
viewed at the SEC's website http://www.sec.gov/ .
About INTAC International, Inc.
INTAC International, Inc. is focused on the exploitation of strategic business
opportunities available in China and the Asia-Pacific Rim. INTAC provides
Chinese students exclusively with a full-range of career development services
through Beijing Intac Purun Educational Development Ltd., its joint venture
with China's Ministry of Education, and its Internet portal,
http://www.phrbank.com/ .
Forward-Looking Statements
This press release contains certain "forward-looking statements." Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause our actual results, performance or achievements
expressed or implied by such forward-looking statements to differ materially
from those projected or implied. Factors that could cause or contribute to
such differences include, among other things: changes in general business
conditions; the impact of competition in our industry, especially in the Asia-
Pacific Rim; the fact that we are an early stage company with an unproven
business model; our need for additional working capital, particularly to the
extent that we are able to locate a suitable business opportunity; the added
expense structure assumed by us as a U.S. public company; political and
economic events and conditions in jurisdictions in which we operate; PRC
Internet laws and regulations that are unclear and will likely change in the
near future; restrictions on foreign investment in the PRC Internet sector that
are imposed by the PRC government; the PRC government that may prevent us from
distributing; regulation and censorship of information distribution in China
which may adversely affect our business; political and economic policies of the
PRC government; the risk of the loss of the agreements, or the exclusivity
terms, with the Education Management Information Center; the high cost of
Internet access that may limit the growth of the Internet in China and impede
our growth; advertising and e-commerce customers that have only limited
experience using the Internet for advertising or commerce purposes; the
acceptance of the Internet as a commerce platform in China which depends on the
resolution of problems relating to fulfillment and electronic payment; concerns
about security of e-commerce transactions and confidentiality of information on
the Internet that may increase our costs, reduce the use of our Internet portal
and impede our growth; our network operations that may be vulnerable to
hacking, viruses and other disruptions, which may make our products and
services less attractive and reliable; changes in interest rates, foreign
currency fluctuations and capital market conditions; and other factors
including those detailed under the heading "Business Risk Factors" and
elsewhere in the Company's annual report on Form 10-KSB for the year ended
December 31, 2003 and quarterly report on Form 10-Q for the quarter ended June
30, 2004, as filed with the Securities and Exchange Commission. We disclaim
any intention or obligation to revise any forward-looking statements whether as
a result of new information, future events or otherwise. INTAC undertakes no
obligation to update any forward-looking statements made in this media release.
Contact:
J. David Darnell, Senior Vice President and Chief Financial Officer,
469-916-9891, for further information.
DATASOURCE: INTAC International, Inc.
CONTACT: J. David Darnell, Senior Vice President and Chief Financial
Officer of INTAC International, Inc., +1-469-916-9891
Web site: http://www.sec.gov/
Web site: http://www.intac.cn/
http://www.phrbank.com/
http://www.joyba.com/