China Netcom Budgets Initial $6.5 Million Dollars for CHVC Sky O/A Licenses
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Boca Raton, Florida - December 14, 2007 - China Voice Holding Corporation (CHVC), announced today that their China subsidiary, Beijing CandidSoft Technology Co. Ltd. (CandidSoft), had been advised by China Netcom (CNC) that the initial budget for Candidsoft's SKY O/A private branded software licenses would be up to $6,500,000 through June, 2008. CHVC recently announced the signing ceremony with CNC of Guang Xi Province.
CHVC's President and CEO Bill Burbank said, "CNC has budgeted up to $500,000 for the remainder of 2007, and up to an additional $6,000,000 through June, 2008 for SKY O/A software licenses. SKY O/A will be private-labeled under the 'CNC Service' brand as an enhanced service offering called 'ICT Business'. This initial commitment is in line with the model that we expect to adopt throughout the China market. Because CHVC has focused up to now on our large government contracts, the Company has not pursued the private sector other than a few large enterprise companies. This new private label software licensing model through telecom carriers will enable CHVC to reap the benefits and profits from the private sector while staying focused on deploying our government contracts. In addition, because China Netcom has been very supportive of our Company, we have utilized CNC for their fixed line service needed to support our government contracts in the Guang Xi Province."
About the Companies:
China Netcom is China's number two broadband communications and fixed-line telecommunications operator. CNC employs over 140,000 people, trades on the New York and Hong Kong Stock Exchanges and has annual revenues approaching $11.5 billion. China Netcom services every Province in China. In the Beijing Municipality, Tianjin Municipality, Hebei Province, Henan Province, Shandong Province, Liaoning Province, Heilongjiang Province, Jilin Province, Neimenggu Autonomous Region and Shanxi Province, CNC is a dominant provider of fixed-line telephone services, broadband and other Internet-related services, as well as business and data communications services.
CandidSoft is an international software company based in the Zhong-Guan-Cun Science and Technology Park in Beijing, China. CandidSoft has used local expertise to research, develop, and establish information and communication platforms for business and government applications. CandidSoft uses "SKY O/A" as the product trademark and separates products into three general categories: O/A Cooperative Office Solutions, O/A Integrated Office Solutions, and O/A Unified Processing Solutions. The Company provides office automation and integration services to government, academic and commercial customers and has developed China's first patented Office Automation application, in large part guided by the needs of Chinese Government Agencies. This platform was designed for flexibility and may be easily modified or extended to meet the specific needs of each Chinese Government Agency or Large Enterprise Company. SKY O/A(TM) uses a web-based technology and allows multiple workers to collaborate on a single project. The SKY O/A(TM) Office Automation platform currently supports over one million users within China.
China Voice Holding Corp. ("CHVC") is a U.S. public holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the People's Republic of China and the U.S. Through its subsidiaries, the Company provides Voice over InternetProtocol ("VoIP") telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the Company has obtained full legal status as a licensed telecommunications company. The Chinese telecommunications market is the largest and fastest growing in the world. CHVC's focus is on providing its innovative and patented voice and data solutions to government agencies and large enterprises in China. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol "CHVC". Upon obtaining audits of prior fiscal years, the Company plans to file with the Securities & Exchange Commission ("SEC") to become a full-reporting company, at which time it will apply for a listing on the NASDAQ or the AMEX; and is on schedule to complete these filings in early 2008. Prior to the filing of periodic reports to the SEC, the Company is providing publicly-available financial statements and other current information at the pinksheets.com website. Additional information may be found at chvc.com.
