Intermost Creates Joint Venture in Partnership with SUNeVision

Business Editors & High-Tech Writers  
NEW YORK--(BUSINESS WIRE)--May 26, 2000--Intermost Corporation 
(OTCBB:IMOT), at a press conference held May 23rd in Beijing, 
announced that it has signed a contract with SUNeVision to create a 
holding company for the purpose of developing Internet-based 
procurement platforms for major Chinese industries, initially focusing 
on the giant Chinese textile industry.  
The new holding company is a major strategic alliance with one of 
the largest brand name Internet technology firms in Hong Kong. Backed 
by its own $200 million USD investment fund, SUNeVision 
( is the B2B Internet technology arm of Sun Hung 
Kai Properties (, itself one of the largest blue chip 
firms in Hong Kong. Intermost will take a 35% ownership position in 
the joint venture, SUNeVision a 50% stake, and a 15% stake. 
SUNeVision brings to the joint venture tremendous brand name power, 
managerial and technical expertise, and financial strength. Intermost 
brings its nationwide network of business relationships established 
during its two years as a premier provider in China of e-commerce 
solutions, systems integration, web design services and its B2B 
Internet portal, Intermost also brings the strength of its 
proprietary electronic payments platform, and its technical savvy.  
The Intermost/SUNeVision holding company will make its first 
procurement system investment in the Chinese home appliance industry. 
Earlier this week in Beijing, Intermost announced the creation of, a company that will build an Internet-based procurement 
platform for this industry. is an industrywide collaboration 
led by one of the largest Chinese home appliance manufacturers, Midea 
( Midea had revenues in 1999 of $1.55 billion USD. 
The Intermost/SUNeVision holding company will own 40% of  
Internet-based procurement systems accommodate a manufacturer's 
different divisions, plants, locations, and projects. Procurement 
systems are internal, not available to the public. Suppliers can 
streamline selling and order entry processes while providing access to 
the tremendous buying power of the trading community the system 
naturally attracts. Operational efficiencies increase while costs 
decrease for all trading partners. All participants will realize 
significant cost savings, not merely through automation of routine 
ordering tasks, but also through the improved responsiveness of their 
supply chain. The opportunity to eliminate the vast inefficiencies 
found in the Chinese textile production and distribution procurement 
systems provides considerable profit potential. The actual procurement 
platform technology to be used by the SUNeVision/Intermost holding 
company is to come from a major well-known supplier.  
By conservative measures, Intermost/SUNeVision holding company  
revenues should reach tens of millions of US dollars within 12-18 
months. Intermost will garner revenue from the sale of the procurement 
system development contracts in two separate ways. First, Intermost 
will generate revenue directly from a variety of sub-contractor work. 
Such work should generate revenue for Intermost within the coming six 
months. Secondly, Intermost will collect a proportional share of all 
revenue generated from the holding company. The opportunity for 
savings due to increased efficiency in the U.S. are typically much 
smaller than in China, meaning that operational cost savings could be 
much larger.  
"To understand the significance to Intermost of this alliance, one 
must consider whom SUNeVision / Sun Hung Kai Properties is. They are 
an aggressive, very large (multi-billion USD), wildly profitable Hong 
Kong company, well known throughout Asia. They know how to make money 
in the IT industry. They make no allusions about the requirement of 
having a solid business plan, financial backing, talented executive 
management, and proper Chinese connections in order to make this 
venture a moneymaker. In our opinion, there can be no strategic  
partnership more valuable than SUNeVision," commented Mark P. 
Williamson, Intermost's Vice President of Business Development.  
"SUNeVision management will not place their own name or money at risk 
without first establishing enormous confidence in Intermost, a 
confidence that has resulted from their own thorough due diligence."  
About Intermost  
Intermost is a China-based Internet technology company, focused on 
the development and delivery of scalable business-to-business 
e-commerce solutions. The Company promotes its name and products via 
its B2B portal, The Company also develops and markets an 
electronic payment system that allows for both telephone and online  
payment of consumer-oriented monthly bills, and markets broad-based  
procurement platforms for the Chinese electrical appliance industry.  
The Private Securities Litigation Reform Act of 1995 provides a 
"safe harbor" for forward-looking statements. Certain information 
included in this press release (as well as information included in 
oral statements and other written statements made or to be made by 
Intermost) contains statements that are forward-looking, such as 
statements relating to the consummation of transactions, anticipated 
future revenues of the companies and success of current product 
offerings. Such forward-looking information involves important risks 
and uncertainties that could significantly affect anticipated results 
in the future, and accordingly, such results may differ materially 
from those expressed in any forward-looking statements made by or on 
behalf of Intermost.  
Investor information can be found on the web at: 
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