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Business Development of Shenzhen International Hi-Tech Property Right Exchange Center Accelerated in 2006

2007-02-06 18:43 1142


SHENZHEN, China, Feb. 6 /Xinhua-PRNewswire/ -- The Intermost Corporation (OTC Bulletin Board: IMOT), a leading electronic online equity exchange service provider in China, is pleased to announce that its joint venture, the Shenzhen International Hi-Tech Property Rights Exchange Center ("Shenzhen Exchange"), reported a total trading volume of 45.8 billion RMB in 2006, a 40% increase over the previous year. Last year, the Shenzhen Exchange served 7,331 enterprises and renewed records in revenue and profit.

The Shenzhen Exchange ranks among the top three equity exchanges in China, as well as the best performing hi-tech equity exchange. Currently there are 160 stock companies under its depository with approximately ten billion shares. Half of them are well performing hi-tech enterprises. Ten companies have gone public on overseas stock markets, including MINDRAY MEDICAL INTL listed on the NYSE, and LAUNCH TECH, POWERLEADER, and MINGWAH HI-TECH, which all listed on the HKEX. The Shenzhen Exchange is projected to expand its depository to 2000 companies in three years' time.

To provide endless listing-eligible resources to the capital markets in China and abroad, in 2006 the Shenzhen Exchange started the program of "Growth Road Map of Innovative Enterprises". In only three months, the applications of sixty enterprises have been accepted. Thirty-eight of them were granted a subsidy of 20.50 million RMB, and six of them successfully went public. The "Growth Road Map of Innovative Enterprises" opens a green channel for hi-tech enterprises to enter the Multi-Layer Capital Market.

Mr. Xiangxiong Deng, acting CEO of the Intermost Corporation was rather pleased to witness the rapid growth of the Shenzhen Exchange. He said, "The Chinese government has started the year 2007 with solid support for the Equity Exchange Market, and thus will welcome unprecedented opportunities. The Intermost Corporation has engaged in the equity exchange business since 2003. It's high time that we reap the harvest!"

The Intermost Corporation holds a 15% share in the Shenzhen Exchange. Mr. Deng also indicated that they retained the possibility of increasing the shareholding position in the Shenzhen Exchange, as well as the possibility of direct investment in other leading equity exchanges in China.

About the Intermost Corporation

Founded in the USA in September 1998, the Intermost Corporation was the first Chinese Internet company listed on the US OTC Bulletin Board (stock symbol: IMOT) in December 1998. The Intermost Corporation has focused its services on the booming Equity Exchange Market in China, including equity-related solution development, equity quotes and information provision, electronic online equity exchange services, direct investment in regional equity exchanges, business incubation services for well-performing innovative enterprises, investment consulting services for overseas listings, the equity portal website -- China Equity Exchange Platform ( http://www.chinae.com ), and otherwise.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.

For more information, please contact:

Mr. Chris Liu / Ms. Carmen Liu

Intermost Corporation

Tel: +86-755-8221-0238

Email: ir@intermost.com

Source: Intermost Corporation
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