Network CN Inc. Secures Rights to 98 Freestanding Light Boxes at Beijing International Airport’s New International Terminal, Receives $5 Million
NEW YORK, November 15, 2007 (PR Newswire) — Network CN Inc. (OTC Bulletin Board: NWCN), a Chinese media and travel network company headquartered in Hong Kong, today announced that it has secured the advertising rights of 98 freestanding light boxes at Beijing International Airport’s Terminal 3.
Beijing International Airport is the busiest airport in the People’s Republic of China and was the second-busiest airport in Asia and the ninth-busiest in the world in 2006 passenger traffic. It currently operates around 1,100 flights a day, but is expected to handle 1,500 or more daily flights for the Olympics in 2008. Terminal 3 is the new international terminal which is slated to open in March 2008.
In additional news, the Company announced the signing of a $5 million promissory note agreement with a private investor.
“Visitors’ first impressions of Beijing as they arrive for the 2008 Summer Olympics will be of our freestanding light boxes,” commented Godfrey Hui, Chief Executive Officer of Network CN. “We are pleased and honored to provide our advertiser clients with this opportunity to reach the sophisticated, international audience that will be visiting China for the Olympic Games. We are also pleased to receive the vote of confidence represented by the recently signed $5 million promissory note. These funds will provide very welcome support for the implementation of the Terminal 3 project.”
Please refer to the Company’s website (www.ncnmedia.com) for additional details.
About Network CN Inc.
Headquartered in Hong Kong, Network CN Inc.’s vision is to build a nationwide network in China that serves the needs of a variety of customers. The Company operates a Media Network, a Hotel Network and an e-Network. On the media side, Network CN is establishing a multi-media, multi-application advertising network in the key cities of China, focusing on outdoor advertising media. As of September 30, 2007, the Company had obtained rights to install and operate 653 roadside digital video panels, 6 mega-size digital video billboards and 24 rolling light boxes in the PRC. On the hospitality and hotel management side, Network CN is building a travel service platform to link up under one network, all the hotel properties under our management, whether owned by the Company or operated under lease or joint venture agreements. In addition, the Company is actively pursuing the development of an e-Network via the Internet.
This press release includes statements that may constitute “forward- looking” statements, usually containing the word “believe”, “estimate”, “project”, “expect”, “plan”, “anticipate” or similar expressions. Forward- looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, risks related to financing, risks attending the build-out of the Company’s media network, acceptance of the Company’s products and services in the marketplace, competitive factors and changes in regulatory environments. These and other risks relating to Network CN Inc. business are set forth in the Company’s Annual Report on Form 10-QSB filed with the Securities and Exchange Commission on November 9, 2007, and other reports filed from time to time with the Securities and Exchange Commission. By making these forward- looking statements, Network CN Inc. disclaims any obligation to update these statements for revisions or changes after the date of this release.
Source: Network CN Inc.
Stanley Chu, General Manager
Network CN Inc.
Sean Collins, Senior Partner