| CHVC Signs Agreement with China Unicom Ltd. SKY O/A to be Private Labeled and Provide Support for Government Contracts |
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Boca Raton, Florida – July 16, 2009 -- China Voice Holding Corporation (CHVC) (OTC: CHVC-News), announced today that their China subsidiary, Beijing CandidSoft Technology Co. Ltd. (CandidSoft), has signed an agreement with China Unicom Ltd., to private label its patented/copyrighted SKY O/A Office Automation with integrated Digital Voice Application under the ICT Business brand. The revenue sharing agreement also provides for installation and support of the Company's current Chinese Government and large enterprise customer contracts in the Guangxi Province. The initial term of the agreement is nine years. This agreement does not replace CandidSoft's previously announced agreement with China Netcom but rather runs parallel with it. The telecommunications industry in China is dominated by three state-run businesses: China Telecom, China Unicom and China Mobile. The three companies were formed by a recent restructuring launched in May 2008, directed by the Ministry of Information Industry (MII), Nationals Development and Reform Commissions (NDRC) and Minister of Finance. China Unicom Ltd. merged with China Netcom Group Corporation Limited on October 15, 2008. The ultimate parent of the Company, China United Network Communications Group Company Limited (formerly known as China United Telecommunications Corporation) ("Unicom Group") also officially merged with China Network Communications Group Corporation ("Netcom Group") in early January 2009. China Unicom Ltd. offers GSM telephone and related services, fixed-line voice and value-added services, broadband and other Internet-related services, information communications technology services, business and data communications services, and advertising and media services, as well as long distance services. As of December 31, 2008, it served approximately 133 million GSM subscribers in 31 provinces, municipalities, and autonomous regions in the Mainland China. CHVC's President and CEO Bill Burbank, said, "This agreement comes after months of discussion, negotiation and delays caused by the China Netcom and China Unicom merger. We are happy to have this agreement behind us so that we can focus on the installations of our Chinese Government Contracts and supporting the China Unicom private labeled version of our technology. We expect that now that our responsibilities are clearly defined and China Unicom has confirmed their support as well as desire to grow this part of their business, we will soon see significant progress in our Contract installations." Burbank added, "Under the new agreement, China Unicom is responsible for wireless mobile network, broadband internet, telephone switching network and NGN network connectivity, first level customer support, billing, collections, end user voice communication equipment, and hosting, maintenance and monitoring of CandidSoft's hardware and server equipment. China Unicom is also responsible for ICT brand promotion and marketing campaigns. CandidSoft is responsible for SKY O/A application development, software upgrades, maintenance, enhancements and support. In addition, CandidSoft is expected to provide new solutions for the implementation of specific China Unicom data services." China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded 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. Through its subsidiaries, the Company provides Voice over Internet Protocol ("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. 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". CHVC has become a fully reporting company and files required financial and disclosure reports with the SEC. The Company is progressing through the process for quotation on the OTCBB and expects to move to this market in the near future. Additional information may be found at www.chvc.com. Forward-Looking Statements The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission. China Voice Investor Contact: |