Yangtze Telecom Corp.

Yangtze Telecom Corp.

November 07, 2007 10:08 ET

Yangtze Telecom Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2007) - Yangtze Telecom Corp. (TSX VENTURE:SMS) reported today that there are no material changes with respect to the business operations of the Company. Management are actively pursuing acquisitions and/or business opportunities but no definitive agreements have been reached.

Yangtze confirms, further to a price reservation filed with the TSX Venture Exchange, that it is proceeding with a non-brokered private placement of shares at $0.17 per share to multiple placees for proceeds of up to $1 million. The proceeds will be used for working capital.

About Yangtze Telecom Corp.

Yangtze Telecom Corp. is a provider of telecom value-added services and wireless digital TV services for consumers and businesses in China and Mongolia. The Company is focused on business applications utilizing a combination of satellite platforms, the internet, and wireless data communication technologies. Key applications to date are the Credit Management System, Wireless digital broadcasting and Distance Learning. For further information on Yangtze Telecom Corp., please visit the Company's web site at www.yangtzetelecom.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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