Consolidated Gold Win Ventures Inc. Announcement

Business Wire, May 18, 1999

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 18, 1999--

Goldweb Technologies Inc., wholly-owned subsidiary of CGW, has signed an interim Letter of Agreement with Geotone Inc. and with Digital Video Broadcast Systems Inc. (DVBS).

The intent of the initiative is to set up a joint venture for the purpose of developing business in the teleconferencing, tele-medicine and distance-education industries. The parties to the agreement plan to incorporate a company in the State of Nevada (GI) to operate the business.

Geotone Inc., a privately-owned company based in Santa Monica, Calif., develops applications for streaming and serving content and technologies for the Internet and provides services ranging from design to development to media planning. The company focuses on the core areas of instruction, commerce and entertainment.

Alex Lightman, Geotone CEO, has been a leader in Internet advertising, services and 3-D content development since the industry began. His reputation for delivering high-quality virtual experiences has earned him strong relationships in the Internet and entertainment "communities."

A key and appealing aspect of the GI product will be created by leveraging these relationships to license characters and properties that can be used to create instant recognition in foreign markets for educational content, e-commerce and related entertainment products.

The inaugural focus of the tri-lateral agreement will be to capitalize on the extensive demand for distance-education, an industry projected to reach $100 billion annually in the global marketplace in the year 2000. Discussions with top North American universities, for the delivery of courseware to specified markets, have been completed.

Initial marketing efforts will be targeted in the regions of India, Pakistan, Sri Lanka, the UAE, and elsewhere throughout Asia and the Middle East. Strategic partners in key markets have already been established, and direct competition in these regions is sparse and weak. GI intends to take advantage of a two (2) billion plus populations anxious to access current and user-friendly distant learning programming.

Under the agreement, Geotone will supply GI with day-to-day operations personnel, and will assume the key management role. Goldweb and DVBS will provide expertise, and will sub-license to GI equipment and technologies including: an Afterburner Web Server, the LiveCam Producer and Video Servers, as well as the proprietary Symmetrically Distributed Server Network (SDSN).

The measurable outcome then, of the Goldweb/DVBS/Geotone triumvirate, is combined resources and expertise that produces a greatly enhanced capacity to deliver an extremely high-quality product on a global basis at high speeds on a system capable of handling 22,500 simultaneous viewers and more than 2 million daily viewers.

Educational product from North America's top universities can now be provided to a significant number of students in Asia and the Middle East who would not normally have access, nor be able to afford, to earn accreditation from some of the world's finest academic institutions. A student who would have to pay $20,000 a year for a university degree will now be able to stay home and receive a recognized degree for hundreds instead of thousands of dollars.

The ability to offer substantial cost savings to individual students, "first-in" access to a huge population base, and the technology to serve millions (vs. thousands) of students simultaneously, represents an enormous and timely economic opportunity.

On behalf of the Board of Consolidated Gold Win Ventures Inc. Per: Souhail "Abby" Farrage President/Director

Note: The Vancouver Stock Exchange has not reviewed the contents of this news release and does not accept responsibility for its adequacy or accuracy.