FORT LAUDERDALE, Fla., Sept. 20, 2005 (PRIMEZONE) -- Dragon Venture (Pink Sheets:DRGV), a leading holding company of emerging high-tech companies in China, announced today that that its subsidiary, Shanghai Fomde Information Technology Company, Limited ("Fomde"), announced today it has signed a contract with Henan Province Hebi City Hotel for developing its computerized integration systems. The contract has a value of 4.88 million RMB (approximately US$600,000).
Under the contract, Fomde will be responsible for the construction of the whole set of computerized integration system, which includes synthesis wiring system, computer network system, telephone-switch system, security system, digital conference system, convenient one-card system, hotel management system, multimedia inquiry system, engine project system, pipeline bridge system, KOD/VOD broadcast system, ballroom sound system and wired television system.
Lawrence Wang, CEO of Dragon Venture, commented, "This is our first project in Henan province. As a leading company in the business of computerized automation control in China, we would like to finish this project as a model project for the entire province. Fomde expects to receive more contracts on hotels, commercial, residential and school buildings in Henan province in the near future."
About Dragon Venture
Dragon Venture ("Dragon") is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger and acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Our focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and Chinese companies, focusing on emerging technology industries including Telecommunication, Information Technology, Wireless applications, and other high-tech industries. For more information about Dragon Venture, please visit http://www.dragonventure.net
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