GUANGZHOU, China, Sept. 3 /Xinhua-PRNewswire/ Guangzhou Global Telecom Inc. (BULLETIN BOARD: GZGT) , a mobile phone handset and pre-paid calling card distributor and mobile handset value-added services provider in the PRC, has signed an agreement ("Agreement") with Travoo Technology Guangzhou Ltd. ("Travoo"). According to the Agreement, Guangzhou Global Telecom, Inc. will become the supplier of wireless products and equipment to Travoo (" http://www.travoo.com.cn/ "), which will become a distribution platform for Guangzhou Global Telecom, Inc.
Travoo is a joint venture between Guangdong China Travel Service (Holdings) Limited, one of the largest travel companies in China, and International Travel Systems Inc., a wholly owned subsidiary of Wing On Travel (Holdings) Limited, one of the largest listed travel companies in Hong Kong (HKSE: 1189). Travoo offers, both online and offline, bookings for hotels, airlines, attractions and other transportation ticketing. Travoo expects to expand its network greatly in 2007.
General Manager of Travoo, Wong Chi Tat said, "We are glad to have Guangzhou Global Telecom as our significant partner in this segment, and we hope we can explore and create opportunities together, in the e-business area."
Ms. Li Yankuan, the CEO of the Company states, "We are thrilled to be the suppliers of communications products and services for Travoo which will allow us to promote our products and develop our business throughout their network. We believe the cooperation with Travoo can enrich the product offering of Travoo as well as enlarge the sales network of Guangzhou Global Telecom."
About Guangzhou Global Telecom
Guangzhou Global Telecom, Inc. is a national mobile phone handset and pre-paid calling card distributor and provider of mobile handset value-added services. Maintaining cooperative relationships with China Telecom, China Mobile and China Unicom, the Company seeks to become the largest sales and distribution center of mobile phones, mobile phone parts and prepaid mobile phone cards in China. GTL plans to introduce new software and services through an expanded network of regional and neighborhood service centers, shops and virtual stores. For details, please visit our website at http://www.guangzhouglobaltelecom.com/ .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
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