/UCWE/ Las Vegas, – OBN Holdings, Inc. (OTCBB:OBNH), announces the creation of an international business division and the establishment of a branch office in Guangzhou, the capital city of the Guangdong Province on mainland China. “The international business division will initially focus on developing import and export relationships in three Asian countries, China, Korea and Japan, respectively,” stated Roger Neal Smith, OBN President and CEO.
Smith went on to say that these countries were selected because of their economic strength and growth potential. The China office will be responsible for generating entertainment and merchandising related business opportunities for all OBN subsidiaries. For example, OBN subsidiary Products On Demand Channel, will soon be introducing new consumer electronics products through a technology television program currently in development. “And we are currently in negotiations to distribute our programming in that region,” Smith concluded In addition to the new Guangzhou office, OBN has offices in Las Vegas, New York and Los Angeles.
About Guangzhou
With its subtropical marine climate, Guangzhou, capital of Guangdong Province, is one of China’s main industrial centers, covering an area of 7,434 square kilometers and has a population of over 6 million people. Guangzhou is the communication hub of Guangdong Province with railways and highways radiating in all directions, as well as convenient inland-water, coastal, and ocean transport. Guangzhou is South China’s biggest national and foreign oriented cities with flourishing commerce and China’s chief foreign trade center. Efforts are being made to build Guangzhou into an international metropolis functioning primarily as the biggest financial, high-tech and light industrial, and communication and transport center in South China.
China Overview
China, which includes the People’s Republic of China (China), Hong Kong Special Administrative Region (Hong Kong), Taiwan, and Macau Special Administrative Region (Macau), has a rapidly growing economy. The Hong Kong, Taiwan and Macau economic and political systems have been separate from that of China until recently. While all three regions had been engaged in extensive international trade, market-oriented reforms and decentralized economic decision making was not introduced in China until after 1978, with output quadrupling by 2000. Hong Kong rule was turned over to China from the United Kingdom in 1997 and Macau rule was turned over to China from Portugal in 1999.
In 2004, the Gross Domestic Product (GDP) for China was nearly $6.5 trillion, which is second only to the United States. The GDP for Taiwan, Hong Kong and Macau was $528.6 billion, $213 billion and $9.1 billion, respectively. The combined GDP for the Chinese market was more than $11 billion, which is larger than the United States and the European Union combined. The 2004 GDP growth rates for China, Macau, Hong Kong have been equally impressive at 9.1%, 4.0%, 3.3% and 3.2%, respectively.
About OBN Holdings
OBN Holdings, Inc. is a holding company for the wholly owned operating subsidiaries Omni Broadcasting Network, Inc.; All Sports Television Network, Inc.; Eclectic Entertainment, Inc.; Products on Demand Channel, Inc.; and Retro Records, Inc., resulting in the company covering all major facets of the entertainment industry. To view further company information and updates, visit our website located at
www.obnholdings.com. For the latest SEC filings or past news releases, go to the company’s website at
www.obnholdings.com and click on the Media heading. Please direct any financial questions to Magellan Financial Media Group at (317) 867-2839.
OBN Holdings, Inc.: 8275 South Eastern Avenue, Suite 200, Las Vegas, Nevada 89123. (702) 435-0544
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of OBN Holdings, Inc, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by OBN Holdings may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “estimate,” “potential,” or future/conditional verbs such as “will,” “should” and “could.”
