Business Services Industry
Chinese Government Seeks U.S. Web and Software Developer to Promote the Music of China Worldwide; InterWeb Designs First Official MP3 Site for China's 1.2 Billion People
Business Wire, August 3, 2000
Business Editors/Technology & Entertainment Writers
HOUSTON--(BUSINESS WIRE)--Aug. 3, 2000
Houston InterWeb Design (OTCBB:HITD), announced today that it has completed the first phase of ListenToChina.Com, the first MP3 music site approved by the Chinese government to promote its thousands of artists worldwide. InterWeb is assisting Chinese artists in uploading their content in order to expedite the official launch of the site. For a sneak preview of the English version please visit www.listentochina.com. The company expects to launch ListenToChina.com in 2-4 weeks.
"The potential is tremendous," says Harry White, CEO of Houston InterWeb Design. "While everyone is scrambling to enter the vast and lucrative Chinese Internet market, we were fortunate enough to have the Chinese government select our company after evaluating our SiteBlazer(TM) technology. Beijing Artist Online has been involved in every stage of the development of the MP3 site since the beginning, down to the choice of the final logo on the main page."
Earlier this year, Houston InterWeb and the Chinese government formed Beijing Artist Online to build the first government approved MP3 music site in China. Similar to MP3.com (Nasdaq: MPPP), ListenToChina.com will promote and develop Chinese music through the use of Houston InterWeb's advanced Internet technology both in China and overseas. By creating a gigantic MP3 portal for its 1.2 billion people, the Chinese government can not only promote and develop the Chinese music industry, but it can also create a completely new, financially sustainable music distribution platform for its artists.
"Our site is going to change the face of Chinese music by opening it up to the world," adds White. Through a MP3 site, China can effectively promote and distribute its artists' music throughout China and the rest of the world. Right now there are over 21 million Chinese speaking Internet users outside of China who have had a difficult time obtaining Chinese music in the past. China's rapid economic growth and increased Internet usage creates an ideal market for our site and future ventures."
Houston InterWeb Design's recent joint venture with the Chinese government has receive additional media attention from the Virtual China News (March 15, 2000) and can be accessed at http://www.houston-interweb.com/read_presscoverage.html?pressid=4, as well as in the The Standard (March 13, 2000) at http://www.houston-interweb.com/read_presscoverage.html?pressid=5, or visit the press release section of InterWeb's Web site http://www.hiwd.com.
About Houston InterWeb Design Inc.
Houston InterWeb specializes in Web site and software development, hosting and data warehousing. Its business model is similar to that of CMGI's (Nasdaq:CMGI) and Internet Capital Group (Nasdaq:ICGE) in that InterWeb leverages its technology and takes an interest in the Internet-related ventures it helps build. Houston InterWeb Design is a fully reporting company trading on the Over the Counter Bulletin Board under the ticker symbol HITD. Houston InterWeb focuses primarily on assisting start-up Internet companies that need management knowledge and technological expertise. InterWeb's holdings include a 100% ownership of Political Team, a 20% interest in OTC News Network Inc., a 50% interest in Cyberpitch.com, Inc., a 33% interest in Beijing Artists Online L.L.C., and a 30% interest in Brazil InterWeb Design. InterWeb also has several licensing agreements with companies in Mexico, Panama and China, as well as an agreement with the Chinese Government. For more information on Houston InterWeb, please visit the company's Web site at www.hiwd.net.
Other American companies focusing on providing related services include Exodus Communications (Nasdaq:EXDS), Digex (Nasdaq:DIGX), Aperian (Nasdaq:APRN), Digital Island (Nasdaq:ISLD), Akamai Technologies (Nasdaq:AKAM) and Xcelera.com (AMEX:XLA).
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including but not limited to certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. This information is not a recommendation to buy or sell securities of Houston InterWeb Design (the company). Merger Communications (Merger) is a media relations firm employed by the company. Merger and the company believe that all information in this release has been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate or complete. Merger, its officers, directors and employees own sixty-six thousand eight hundred shares of the company's common stock. According to the long-term agreement between Merger and the company, Merger's compensation for its financial media relations services includes forty thousand shares of the company's common stock and five-year warrants for an additional sixty thousand shares exercisable at four dollars a share and sixty thousand shares at a price determined at a later date. Merger typically has a long position in the securities of the companies in which it distributes information, and Merger may be buying or selling securities in the course of its regular business. For more information on Merger's services, visit www.mergerusa.com.
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