China YouTV Corp.
OTC Bulletin Board : CYTV

April 20, 2007 18:18 ET

Update on China YouTV's 3G Cards Distributed Through ManGoCity and Gome Electrical Appliances Stores

BEIJING, CHINA--(CCNMatthews - April 20, 2007) - China YouTV Corp. (OTCBB:CYTV), a publicly traded company that recently entered into the growing online video viewing market in China reported updates on the agreements with Gome Electrical Appliances Holding Ltd.("Gome", HK stock symbol:0493), the largest chain store operator of electrical appliances in China, and ManGoCity.com, an affiliate of China Travel Service (Holding) HK Ltd. (Information Market Forum) (0308-HK) to distribute its 3G digital space cards. The 3G digital space cards are produced by China YouTV's joint venture partner, HuaJu, and are distributed through retailers and other businesses. They give the holder various privileges without charge on the Joint Venture's Cnboo video sharing website.

The Company's 3G cards for Gome will be distributed through 600 Gome stores nation wide, according to Gome. 10,000 cards have already been distributed to Gome digital products clients. The Company has shipped 300,000 3G cards to ManGoCity, where 80,000 cards have been distributed to ManGoCity's customers to date.

China YouTV owns fifty-one percent of the Joint Venture that owns the CnBoo web site. 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.

One of the goals of Cnboo is to increase its membership as quickly as possible through products such as 3G space cards, which in this business, as in the case of YouTube, could translate into an increased value of the CnBoo franchise.

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

About China YouTV Corporation:

The Company 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 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.

Recently, HuaJu signed a bundled contract with Gome Electrical Appliances Holding Ltd. ("Gome", HK stock symbol: 0493), the largest chain store operator of electrical appliances in China to distribute its 3G digital space cards to Gome customers. Management believes that this should result in a significant growth in membership for CnBoo.

HuaJu has also 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 the CnBoo web site. Management believes that this should result in a significant growth in membership for CnBoo.

Finally, HuaJu entered into a profit sharing agreement with a leading value-added mobile service and software technology provider in China, HURRAY, a NASDAQ listed company, for the launch of 3G experience terminals, which are designed to provide consumers with more direct services and interaction with the Cnboo website. Management believes that this should result in a significant growth in membership for CnBoo.

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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