China NetTV Holdings Inc.

China NetTV Holdings Inc.

March 21, 2005 14:44 ET

China NetTV Holdings Inc. has Closed a Non-Brokered Private Placement of US$2.4 Million


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CHINA NETTV HOLDINGS INC.

OTC Bulletin Board SYMBOL: CTVH

MARCH 21, 2005 - 14:44 ET

China NetTV Holdings Inc. has Closed a Non-Brokered
Private Placement of US$2.4 Million

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2005) - China
NetTV Holdings Inc. (OTCBB:CTVH) is pleased to announce that it has
closed a non-brokered private placement for 48,000,000 units at US$0.05
per unit for total proceeds of US$2,400,000. Each unit consists of one
common share and one non-transferable share purchase warrant entitling
the holder to purchase one common share for two years, at US$0.08 per
share in the first year or US$0.25 in the second year exercisable till
March 14, 2007.

The private placement has substantially strengthened the balance sheet
of China NetTV Holdings. Proceeds from the funds will be utilized for
working capital purposes and associated development of the Company's
leading project, the gold-copper Xietongmen prospect in South West China.

Any forward-looking statement in this press release is made pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. Investors arecautioned that actual results may differ
substantially from such forward-looking statements. Forward-looking
statements involve risks and uncertainties including, butnot limited to,
economic and political factors, product prices and changes in
international and local markets, as well as the inherent risks of the
mining related business.

On Behalf of the Board of Directors

Anthony Garson, Director, President & CEO

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