China Ventures Inc.: Agreements
to Double Market Reach in China
VANCOUVER, British Columbia --(Business
Wire)-- Feb. 10, 2004 China Ventures Inc. (TSX Venture:CHV) today announced a series of
marketing agreements with the largest bookstore chain in China, Xinhua Bookstore Corp.
(Xinhua). Further, the company announced approvals from several Provincial Education
Commissions which will more than double the company's market exposure in China.
The company's three major product categories: the IT series, its kindergarten curriculum
and psychology series, currently distributed by its subsidiary, Today's Teacher Technology
and Culture Ltd. (TTTC) have been approved for inclusion on the textbook lists of various
Provincial Education Commissions. The IT series has been approved for Sichuan, Anhui,
Henan, Hubei, Jiangxi and Inner Mongolia; the kindergarten curriculum product has been
approved for Sichuan and Inner Mongolia; and the psychology series has been approved for
Anhui, Jiangxi, Guangdong and Shanxi Provinces. Two of these new regions, Guangdong and
Henan provinces, have a combined population of 167 million people.
Concurrently, TTTC has signed a series of
marketing agreements with Xinhua to sell the same three major products in the above
provinces. Xinhua is the central government owned retail bookstore chain with 10,000
Ronald Shon, President, said, "These
agreements and approvals are significant for the company because they will increase our
competitive advantage over others in the same industry. Being included on these provincial
textbook lists enhances our sales distribution process and is the ultimate objective of
all textbook producers in China. Very few make it but for those that do, being on these
lists is the equivalent of an endorsement by the Provincial education authorities."
Additionally, the company has
renegotiated its contract with Cavalcanti Hume Funfer Inc., which saw the cancellation of
an aggregate of 1,025,000 incentive stock options granted on January 14, 2003. Of these,
512,000 options were exercisable at a price of $0.13 per share and the balance were
exercisable at $0.24 per share.
About China Ventures Inc.
CVI is a Canadian-based company focused
on providing educational solutions to various segments of the Chinese economy. The
admission of China into the WTO and the granting of the 2008 Olympic Games to Beijing have
created a growing demand for education, corporate training and extended learning in China
which provides significant business opportunities to CVI. On August 2002, CVI acquired
Today's Teachers Technology and Culture Ltd. (TTTC) in China to expand its educational
operations. TTTC is a 12-year-old educational product distribution company whose product
line includes books, software, audio and video materials, and educational training tools.
On September 2003, CVI acquired Northern Education Books Ltd. (NEB) which distributes a
series of supplementary textbooks, similar to "Coles Notes," for the high school
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FORWARD-LOOKING STATEMENTS: Except for
statements of historical fact, all statements in this news release -- including, without
limitation, statements regarding revenue estimates and future plans and objectives of
China Ventures -- are forward-looking statements that are subject to various risks and
uncertainties. Forward-looking statements are based on current expectations and analyses,
including China Ventures' analysis of its product and distribution system and its
expectations regarding the effects of anticipated product and distribution changes and the
potential benefits of such efforts and activities on China Ventures' results of operations
in future periods. There can be no assurance that such statements will prove to be
accurate; actual results and future events could differ materially from those anticipated
in such statements.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
China Ventures Inc.
Ronald Shon, 604-683-6865