Business Editors/High-Tech Writers
VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 20, 2001
The Management of Asia Broadband, Inc. (the "Company") is pleased to announce that its 75% owned Chinese subsidiary, Shanghai Broadband Network, Inc. ("SBN") will
The President & CEO of the Company, Mr. Yuguo Zhang, stated that the educational market in China, especially in Shanghai, a metropolitan city with a total population of 14 million, is huge. He further noted that the Company and its Chinese subsidiary are well positioned to tap into this market.
All students who enroll in the Shanghai General Foreign Language Testing Program will be required to participate in the SHGFL Online Learning Center, as this will form a mandatory component of their education program. Since 1994, the total number of student enrolments in the Shanghai Foreign Language Testing Program is approximately 560,000, averaging some 80,000 per year.
The Company's COO & CTO, Mr. Charles Demicher, noted that broadband infrastructure and technology in China represents a very large market and is one which the Company is focusing on. By using the existing state-of-the-art broadband network in Shanghai for delivery of online educational content, the Company is able to access a large and immediate revenue stream. He further stated: "The SHGFL Online Learning Center will be the first online program of our educational platform in Shanghai. The Company is also negotiating with a number of universities in the USA, Canada and England to provide their well-established educational content to the Chinese market".
The common stock of the Company currently trades on the NQB OTC (the "Pink Sheets") under the trading symbol ASAB. For further information please call:
Christine Reynolds
V.P. Corporate Communications 888/852-5822
On behalf of the Board of Directors
"Yuguo Zhang"
President & CEO
Asia Broadband, Inc.
2120 - 1066 W. Hastings Street
Vancouver, B.C. V6E 3X1 Canada
This news release does not constitute an offer to sell or the solicitation of any offer to buy such securities. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among other things, statements relating to future expansion and business development activities. Forward-looking statements involve the expectations and estimates of the Company's management and are subject to a variety of uncertainties. Actual events or results could differ materially from those projected in the forward-looking statements due to a variety of factors.