The investment represents Top of Asia's first milestone towards capitalizing on the emergence of next-generation wireless communications services within China. The investment allows Top of Asia to leverage United Wireless' extensive familiarity with the Chinese market and deep communications industry expertise to establish a China-based technology investment portfolio.

"The time to enter China's wireless market could not be better," said Ed Odenwalder, President and CEO of Top of Asia. "China represents an unprecedented growth opportunity, unrivaled to any other broadband wireless adoption in the world. China's wireless technologies such as McWLL (Multicarrier Wireless Internet Local Loop), the liberalization of foreign direct investment regulations, and an imminent communications industry restructuring create an environment ripe for the next wave of explosive growth. Our relationship with United Wireless provides the local expertise to move aggressively in the deployment of wireless broadband services."

To put the opportunity in perspective, various research reports estimate the number of broadband households in China will reach between 130-139 million by 2010, not close to saturation for a country with a population of more than 1.3 billion.

Mr. Ping Cheng, Chairman of United Wireless, states, "The strategic investment from Top of Asia will enable United Wireless to move forward on several opportunities we have already identified. We've been working with Top of Asia's initial investors for three years and they have shown the patience and knowledge it takes to be successful in China."

Keywords: unprecedented growth opportunity, wireless broadband services, wireless communications services, wireless adoption, first milestone, odenwalder, initial investors, ping cheng, asia china, world china, investment regulations, local loop, wireless broadband