Business Editors
CHICAGO--(BUSINESS WIRE)--July 11, 2000
Global Telephone Communication, Inc. (OTCBB:GTCI) is pleased to announce that it has selected Sun Microsystems to provide the hardware platform for its E-commerce joint venture with Szonline (pronounced "S-Z-online", formerly Shenzhen Newsnet), a significant China based ISP (www.szonline.net).
GTCI and Szonline are partnering to create an Internet portal that will provide online business services and value added Network capabilities.
Anthony Sousa, GTCI's Vice President of Operations stated, "We are extremely pleased to be working in conjunction with Sun to build the technical infrastructure for our E-commerce platform. Sun's hardware is known for its scalability, reliability and performance. As GTCI expands with the goal of becoming a significant global Internet communications and E-commerce company, it is reassuring to know that we have the resources of Sun Microsystems supporting our efforts."
According to the China Internet Network Information Center, there were approximately 2 million people in China online at the end of 1998 and nearly 9 million by the end of 1999 (http://www.cnnic.net.cn/e-index.shtml). This market penetration is representative of less than 1% of the population leaving great potential for further expansion in the Asian arena. As the existing infrastructure continues to develop, Asia and China in particular are projected to become the largest market in the world for Internet commerce.
Sousa commented, "Over the next few years, we believe that the provinces that make up China's eastern seaboard and that have the highest level of economic output, greatest foreign investment, and best-developed infrastructure, will begin to mirror the U.S. numbers in regards to percentage of individuals with Internet access. If that happens, we will be looking at a market of approximately 80 million subscribers out of a population of 350 million. With our expertise in Web based Internet technologies, we believe the China market represents explosive potential to companies such as GTCI that are willing to partner with China based organizations to provide value added services. Starting with our free email platform, which will be accessible from anywhere in the world, and which will be launched early in Q4, we will be following up with a variety of Unified Messaging services which will allow individuals to combine voice, fax, and email into a unified mailbox that can be accessed via the telephone or the Internet, and will interact with our Voice over IP (VoIP) network. Subsequent value added applications are slated to further enhance GTCI's products."
GTCI is a global telecommunications corporation with an emphasis on China and the Internet. GTCI currently holds licenses to conduct telecommunications and Internet business in China, and is looking to expand its operations worldwide.
This press release contains statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by GTCI's public filings with the Securities Exchange Commission.

No comments:
Post a Comment