China YouTV Corporation
OTC Bulletin Board : CYTV

June 07, 2007 09:01 ET

China YouTV Appoints New Director and President

BEIJING, CHINA--(Marketwire - June 7, 2007) - China YouTV Corp. (OTCBB:CYTV), a publicly traded company that provides online video viewing services through its Cn.Boo web site in China announced that it has appointed Mr. Wang, Jie as a member of the board of directors and Mr. James Wei as President. Mr. Gao, ZhenYong will resign from all positions.

Mr. Wang, 52, has his MBA degree from Concordia University in Montreal of Canada, his bachelors degree from People University of China in Beijing, China, Majoring in Economics. Mr. Wang has years of work experience in the investment industry and as a specialist in Corporate Finance. Mr. Wang has been a Partner and Managing Director of Hi-Gold Consultants Limited (Hong Kong/Beijing) since 2001. He currently also serves as an Independent Director of a Shanghai listed public company and as a Director in two other private companies in China.

Positions previously held by Mr. Wang include Managing Director of Beijing based OrienCentury Securities Investment Consultation, Senior Advisor to the Chairman and CEO of Guangxi Yuchai Machinery Company Ltd. and China Yuchai International (a NYSE listed company), Deputy Director of Fund Management Department of Stock Exchange Executive Council (SEEC, Beijing), and Trader in Forex Funding Department of CITIC Industrial Bank.

The professional experience of Mr. Wang is mainly in the area of investments and corporate finance advisory, both in China and in international commerce:

"Mr. Wang brings tremendous experience that will serve the Company's shareholders well, as we seek to raise funds and to expand our business in China and overseas," said James Wei, new President of the Company. "We want to capitalize in the rapidly growing video sharing market under the leadership of Mr. Wang and look forward to his contributions."

For more information, please go to www.chinayoutv.com.

About China YouTV Corporation:

The Company signed a Definitive Agreement with HuaJu to set up a Joint Venture in China on March 16, 2007. According to the Agreement, the China YouTV Corp. owns 51% of the joint venture company and will provide the required working capital for the Joint Venture. HuaJu will be in charge of the daily operation of the Joint Venture. HuaJu has agreed to conduct its video sharing business only through the Joint Venture, and has agreed to contribute its web site, www.CnBoo.com and customer contracts to the Joint Venture.

www.CnBoo.com ("CnBoo"), is the online video site belonging to the Joint Venture established by China YouTV Corp. and HuaJu. It is a video viewing site and social networking site that allows users to create their own profiles, post videos, and comment on each other's posts. The CnBoo web site is similar to YouTube (www.YouTube.com), the No. 1 online video site in operation. Within less than 2 years, CnBoo already has over 1.2 million members and over 1 million pieces of original digital video (DV) shorts.

To increase membership and CnBoo's brand name awareness, HuaJu has worked both on-line and off-line. HuaJu has signed several agreements to enhance its on-line contents, such as an agreement for CCTV's TV program "Exploring High and Low", an agreement with ManGoCity, a travel company and the recent agreement with Music Nation, an agreement with Megadia to host the Humor channel on the CnBoo web site. Off-line, HuaJu has signed agreements to promote its 3G space cards through Gome Electrical Appliances Holding Ltd., the largest chain store operator of electrical appliances in China to distribute its 3G digital space cards to Gome customers, the Company also has signed an agreement with HURRAY, a NASDAQ listed company, for the launch of 3G experience terminals in Gome's stores; it signed a 3G card agreement with ManGoCity, and a promotion agreement with Z-Card.

The Company has changed its name to China YouTV to reflect its new business operations: the fast growing video sharing web site market in China, and at the same time, to continue its exploration of mineral properties in British Columbia, Canada.

Forward-looking statements

This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.

The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.

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