CCCI Initiates IP TV and IP Telephony Joint Venture Agreement
21 April 2005 - 2:09PM
PR Newswire (US)
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/
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