China YouTV Corp.
OTC Bulletin Board : CYTV

March 26, 2007 09:01 ET

China YouTV Corp.'s Joint Venture Launches Video Site for China Central Television's (CCTV's) Show: "Exploring High and Low" on CnBoo Website

BEIJING, CHINA--(CCNMatthews - March 26, 2007) - China YouTV Corp. (OTCBB:CYTV), a publicly traded company that recently entered into the growing online video viewing market in China reported that its Joint Venture Partner HuaJu NetMedia ("HuaJu") has signed an agreement with one of the most prestigious institutions in the TV media business in China - China Central Television (CCTV), to launch a video site of CCTV's TV program "Exploring High and Low" on www.CnBoo.com ("CnBoo"), the online video site belonging to the Joint Venture established by China YouTV Corp. and HuaJu.

CCTV is a national level TV station in China, covering 95.9% of the whole country's population and with an audience share of over 1.188 billion (Source: Published Chinese Statistical Data for 2005).

Belonging to CCTV Channel VII, "Exploring High and Low" is a TV program about humanities and geography. With national coverage of 90%, CCTV "Exploring High and Low" has a 640 million audience share, accounting for 54% of the households in China. The audience for "Exploring High and Low" mainly consists of consumers aged 25-60 who have attractive demographics.

According to the Agreement, HuaJu will build a dedicated video site named "Exploring High and Low" for CCTV on CnBoo's web site, and HuaJu and CCTV agree to cooperate on content and other market aspects. Both audiences of "Exploring High and Low" and users of CnBoo can view the latest program and related older videos, as well as upload travel videos made by them. This agreement not only brings a revenue of RMB100,000 (approximately equivalent to USD$12,500) to HuaJu, but also is the first step of more cooperative plans between HuaJu and CCTV.

"This cooperation is part of our development strategy. The establishment of the video site of "Exploring High and Low" will push this strategy forward without any doubt," said James Wei, CEO of HuaJu. "The cooperation between HuaJu and traditional TV media will lay a foundation for the development of new revenue sources for us in the future and increase the brand awareness for CnBoo." For example, in the United States, YouTube developed a strong relationship with TV media institutions, which led to significant growth in its program offerings here and attractiveness as a delivery system for media products.

CnBoo 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. CnBoo web site is similar to YouTube (www.YouTube.com), the No. 1 online video site. Within less than 2 years, CnBoo already has over 1.2 million members and over 1 million pieces of original digital video (DV) shorts.

About China YouTV Corporation:

The Company has signed a Definitive Agreement with HuaJu NetMedia to set up a Joint Venture in China on March 16, 2007. According to the Agreement, the Company will own 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 and customer contracts to the Joint Venture.

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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