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China YouTV's JV Partner Signs Agreements with IT Company to Increase Online Information Content

According to the agreement, Zhide will provide CnBoo with video service and products as well as video resources. All of these resources have legal copyrights and other related legal rights for license and use. CnBoo will upload these resources onto its website at www.cnboo.com to be accessed, shared and distributed by users. CnBoo will also offer related technical supports and maintenance for its users. Meanwhile Zhide will promote CnBoo as the "designated special area" on its official website www.zol.com.cn. The two parties may also report on specific interests from time to time to promote their collaboration.

www.zol.com.cn belongs to CNET and is considered the most valuable professional IT website in Greater China. Up to October 2006, the combined traffic data of www.zol.com.cn reached 25 million per day and the number of total registered members was 2.5 million.

"Zhide's tremendous collection of professional IT content and its commitment to innovative growth in the IT business make it the perfect partner," said Mr. Wei CEO of CYTV. "This alliance will further accelerate our growth into a world recognized online service channel, providing our website with even greater opportunities to continue strengthen our brand and expand our reach."

For more information, please go to www.chinayoutv.com.

About China YouTV Corporation:

The Company signed a Definitive Agreement with HuaJu to set up a Joint Venture in China on March 16, 2007. According to the Agreement, the China YouTV Corp. owns 51% of the joint venture company and will provide the required working capital for the Joint Venture. HuaJu will be in charge of the daily operation of the Joint Venture. HuaJu has agreed to conduct its video sharing business only through the Joint Venture, and has agreed to contribute its website, www.CnBoo.com and customer contracts to the Joint Venture.

www.CnBoo.com ("CnBoo") is the online video site belonging to the Joint Venture established by China YouTV Corp. and HuaJu. It is a video viewing site and social networking site that allows users to create their own profiles, post videos, and comment on each other's posts.

The CnBoo website is similar to YouTube (www.YouTube.com), the No.1 online video site in operation. Within less than 2 years, CnBoo already has over 1.2 million members and over 2 million pieces of original digital video (DV) shorts.

In order to increase membership and brand name awareness as well as moving the company towards sustained profitability, we have worked both on-line and off-line.

On-line:

1. HuaJu has signed a series of agreements to enhance its on-line content for raising brand awareness and membership.

- Travel

-- launched a video site of CCTV's TV program "Exploring High and Low".

-- launched value-added travel services together with ManGocity.com.

- Entertainment & Events

-- Sulake Corporation Ltd. (HABBO) to host "HABBO Original DV Shorts Contest" on CnBoo;

-- VVSky Broadband Media Group to acquire short video programs to feature on CnBoo;

-- Beijing TaiDe Interactive Technology Co. Ltd. to cooperate on video sharing contents;

-- BeiJing SiHaiDongXing Culture and Media Ltd. to develop online videos for high-speed internet users;

-- Youyi Chunqiu Network Technology Ltd. Co. to promote online game "Pick" on CnBoo;

-- Asia Media Group to promote "Creative Tube"-Global Awards of Chinese New Media Creative Tube Contest on CnBoo;

-- Hangzhou Julian Technology Co., Ltd. to jointly host a Video Creativity Competition on CnBoo.

- Music

-- Music Nation Records Company Ltd. to use its audio and video files on CnBoo;

-- Shanghai Yue Sheng Information Technology Co., Ltd. to launch an exclusive music shopping channel on CnBoo;

-- Beijing Da Sheng Chang Xiang Culture Broadcasting Co., Ltd. to promote an album of Chinese pop star Zhang Bo Hong on CnBoo;

-- Beijing Baiyi Xingtu Culture Co., Ltd and Beijing Bermu Culture Development Co., Ltd to launch online streaming service on CnBoo;

-- Beijing Tianyu Brothers Information Technology Co., Ltd. to enhance the online content of CnBoo's new music channel;

-- Beijing Feixingzhe Records Co., Ltd and Beijing Dasheng Xianzhi Culture Co., Ltd to legally broadcast new songs on CnBoo's Music Channel;

- Comedy

-- Bejing Megadia Company to host Humor channel on CnBoo;

- Advertising

-- Unlimited Chance Technology Development Co., Ltd. to share and exchange advertising resources;

-- Shen Zhou Yipin Advertising Co., Ltd. to promote CnBoo on trains.

-- Cai Hua Media AD Ltd. to explore innovative financing opportunities.

2. The Company has signed several revenue-based contracts to move towards sustained profitability.

- 21Century Network Co.: signed a cooperation and revenue sharing agreement for "Special DV Shorts" channel on Vnet;

- TianWeiYuanChang Co.: HuaJu is entitled to 70% of the profit from online advertisements with TianWei content;

- Beijing Jiahe Interactive Network Technology Co., Ltd.: Both parties work together to launch a new category "Video House" on CnBoo. HuaJu will be entitled to 40% of revenue generated from the advertisements;

- Shanghai Vekee Advertising Co. Ltd.: signed a long-term revenue based contract to distribute advertisements on CnBoo;

Off-line:

HuaJu has signed several agreements to promote its 3G space cards as well as to increase the brand name awareness.

1. Cooperation with Gome: The Company signed a contract with Gome to use its publicizing platform to promote CnBoo and 3G digital space cards, meanwhile the Original DV contest will be hosted in Gome's selected stores during major Chinese holiday.

2. Cooperation with Z-CARD UK: The Company has been officially appointed as the first agent for Z-CARD's advertisements of major consumer sectors in Greater China.

3. Cooperation with APEPCY (AIDS Prevention Education Project for Chinese Youth): The Company was exclusively authorized by APEPCY to negotiate with media operators using LED displays with respect to the cooperation issues concerned. If the Company successfully locates media operators, all LED displays will have CnBoo's logo on them.

Recent Ranking:

As of October 2007, the Company has shown increasing popularity as its CnBoo websites have been ranked No.1 on Microsoft Live, No.1 on Google China, No.7 on BaiDu, No.11 on Yahoo China and No.12 on Google China when searching for keywords: "on-line video", and "on-line video sharing websites" recently. The Company has also launched its new version for enhanced functionality.

The Company has changed its name to China YouTV this year to reflect its new business operations: the fast growing video sharing website market in China.

Forward-looking statements

This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.

The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.