FT. LAUDERDALE, Fla., July 21, 2005 (PRIMEZONE) -- Dragon Venture (Pink Sheets:DRGV), a holding company of high-tech companies in China, reported today that its subsidiary, Shanghai Fomde Information Technology Company, Limited ("Fomde") has been retained to construct a Campus Digitization Project for Jiangsu Province Jidong Middle School. Fomde develops computerized integration systems, allowing disparate operations to coordinate in a seamless fashion. The contract is in excess of RMB 5.6 million (approximately $680,000).
Under the contract, Fomde will be responsible for the construction of the computerized integration system, which includes: the synthesis wiring system, the computer network system, the multimedia classroom system, the principal management system, the library multimedia search system, the library operation system, the engine project system and the pipeline bridge system.
Lawrence Wang, CEO of Dragon Venture, commented, "In China, a growing number of properties, including commercial, residential and school buildings need computerized automation control systems. As a leading company in this field, Fomde will take advantage of this great opportunity to develop its business. Fomde has been certified by the Ministry of National Architecture of China and the Ministry of Information Technology of China. It was certified ISO 9001 in December 2004. Fomde expects to receive a series of contracts and agreements in the coming months."
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. The current focus of Dragon is on the development of wireless 3G-based applications and business solutions and information technology. 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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