<B>Internet Site for Asian Pulp, Paper Industry Being Developed</B>

PacificNet.com, a U.S.-based e-commerce solutions provider, formed a web joint venture aimed at the China market with Asia Pulp & Paper's APP China Holdings Ltd.

A subsidiary of PacificNet.com LLC will hold 51 percent of the venture and APP China will hold 49 percent, PacificNet.com said in a statement. The joint venture will provide e-commerce website development and information technology products and services to the Chinese market.

A subsidiary of PacificNet.com LLC will hold 51 percent of the venture and APP China will hold 49 percent, PacificNet.com said in a statement. The joint venture will provide e-commerce website development and information technology products and services to the Chinese market.

May 2000
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