Netcafe@India to turn into NetZoo

CHENNAI: Teleindia Private Limited, the Indian subsidiary of the $50 million

Asian Pacific Internet Company (APIC), has recently signed an agreement to

acquire the first Internet browsing center in India, NetCafe@India. It intends

to extend the brand and convert the cafe as the first of its kind `NetZoo' in

Chennai. The Teleindia NetZoo concept will be further extended to other parts of

the country by setting up branch office centers as well as franchisee centers.

The NetZoo will provide the opportunity for Internet enterprises and software

companies to demonstrate, exhibit and train people on the latest technologies

and development in the Internet and software scene. The Teleindia Net Zoo

intends to provide a show case opportunity for Linux products and is currently

working out a plan for discussing with IBM, NIIT, HCL and other premier

companies involved in the Linux movements for this.

Teleindia plans to create awareness for the investing community, build

communities around APIC's premium brand name web properties such as

www.teleindia.com, www.tamil.com, www.chennai.net and www.tamilnadu.net. The

skeletal site Teleindia.com is up and running, providing brandname@teleindia.com

email services. It will be made into a full fledged portal in the next two

months and will be followed by the launch of Chennai City focused

www.chennai.net coinciding with the Tamil New Year in April 2000.

Teleindia intends to achieve a target subscriber base of 1 million in India

alone in the coming 12 months. "We are in the process of identifying

companies who are in line with our

vision for strategic alliances and takeovers. Our parent company, APIC, with

a conservative private valuation of $ 50 million at present, is forging numerous

strategic alliances in Australia and in the Asia Pacific region. We intend to

achieve the same in India through Teleindia, as well as bring the benefits of

the currently discussed and new alliances forged by APIC to the Internet users

in India," said R. Sathyamurthy, Chief Netballer, Teleindia.

Plans are also underway for an IPO on the OTCEI in the next six months to

raise Rs 50 crore for the Indian business investment plans. It may well be the

first Internet company to be listed on the OTCEI. "The repositioned OTCEI

as the Technology Exchange of India, modeled like NASDAQ in the USA, is well

suited for us. In the meanwhile, for funding our projects, we are in talks with

leading venture capital funds and private investors in India and abroad,"

he added.