China YouTV Corporation
OTC Bulletin Board : CYTV

October 08, 2007 13:45 ET

China YouTV's JV Partner Signs Agreement to Provide CnBoo Users with Better Uploading Tool

BEIJING, CHINA--(Marketwire - Oct. 8, 2007) - China YouTV Corp. (OTCBB:CYTV.OB)(News), a publicly traded company that provides online video viewing services through its Cn.Boo web site in China, reports that its Chinese Joint Venture Partner HuaJu has signed an agreement with Beijing Meike Communication Technique Co., Ltd ("Meike") to cooperatively build a multi-faceted uploading tool known as "Micat" on CnBoo.

Micat, developed by Meike, is a convenient, modern software system designed for customers to upload mobile phone resources to the Internet. According to the agreement, Meike will design "Huaju Micat" software exclusively for CnBoo website users. Huaju will work closely with Meike to ensure the introduction and downloading interface for "Huaju Micat" adheres to the style of the CnBoo website. Huaju will also promote "Huaju Micat" on CnBoo and through other channels. There is no charge to CnBoo to acquire the software from Meike, other than an obligation by Huaju to promote the Micat software on the web site as aforesaid. Micat will retain the copyright to the software. For the CnBoo user, the software is currently free to download.

"Huaju Micat" enables clients to transmit text messages, pictures, audio and video clips from their mobiles to personal blogs or a community online," said Mr. Wei, President and CEO of ChinaYouTV Corp.. "With a simple click of a cell phone key, all contents can be uploaded to the Internet, providing a better online experience for CnBoo users and shareholders."

Meike is a mobile-end and multi-platform software development company specializing in wireless end-to-end application solutions, embedded system research & development, and a seamless mobile communication platform design as well as facilitating wireless devices and internet integration.

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 2 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.

On-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, an agreement with Megadia to host Humor channel on CnBoo web site, and the recently signed agreement with Music Nation and VVSky to add more music on its web site and the recent advertisement exchanged agreement with 3g4a's subsidiary: Unlimited Chance Technology Development Co. Ltd.

Off-line: HuaJu has signed several agreements to promote its 3G space cards, such as the agreement with 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; an agreement with HURRAY, a NASDAQ listed company, for the launch of 3G experience terminals in Gome's stores; an agreement with ManGoCity, and a promotion agreement with Z-Card. HuaJu also got exclusive right from AIDS Prevention Education Project for Chinese Youth to negotiate with investors to install LED displays in the colleges and universities across China. All LEDs will have HuaJu and CnBoo's logo on it.

The Company has shown increasing popularity as its CnBoo web sites had been ranked No.1 on Microsoft Live, No. 1 on Google China, No.7 on BaiDu, No.11 on Yahoo China and No.12 on Google China when searching for keywords: on-line video, and on-line video sharing web sites recently. The Company also has launched its new version for enhanced functionality.

The Company has changed its name to China YouTV this year to reflect its new business operations: the fast growing video sharing web site market in China.

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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