ASIA : Dragon Venture, a holding company of high-tech companies in China, reports that Shanghai Cnnest Technology Development Company, Limited ("Cnnest"), a subsidiary of DRGV, recently has launched their commercial 3G real estate applications, the "Cnnest Model" based on 3G mobile technology.

"Cnnest" is one of the leading companies in the field of mobile Internet solutions and applications in China. It is the only company that provides real estate services on a mobile Internet platform. "Cnnest's" website is (http://www.cnnest.com). It has already established a database for 10 of the largest cities in China, including Shanghai, Beijing, Guangzhou, for the implementation of its real estate service solutions.

The "Cnnest Model" provides cutting edge technology for companies involved in the buying and selling of real estate. Its key technology is "Mobile Real Estate" based on 3G technology. "Cnnest" combines Internet, mobile Internet, newspapers and call centers that combined together form a multimedia platform of real estate services. Based on this platform, the seller, landlord, buyer and tenant can publish or seek related information through the computer, wireless phones, telephone, newspaper, and sub-stations. The call centers communicate the customer's requests to the nearest real estate broker. By providing these services, both "Cnnest" and various entities in real estate industry will generate revenues that the company believes will be very significant in the coming years.

"Mobile Real Estate" is a consumer end program that was designed by "Cnnest" to be compatible with China Mobile (NYSE: CHL) and China Unicom (NYSE: CHU), the top two wireless companies in China. Wireless subscribers can download this software through their service providers. After the connection with www.cnnest.com, customers can find any related information about real estate listing in these ten cities. For example, if you want to rent or buy real estate, you only need three choices in regards to the area, price and location by using your own cellular phone. The results would include not only the written description, but also the detail pictures of the properties for sale or lease as well as the surrounding environment. The system enables you to send your detailed requirements through cell phones so that sellers and landlords can contact you directly. As far as the landlord is concerned, they can publish their listings and specific information on the companies website, as well as specialized newspapers through "Mobile Real Estate, " greatly enhancing their ability to successfully complete their sale or lease offerings in a shorter of time, than what is currently available.

Hidy Cheng, Vice President of Dragon Venture and General Manager of Cnnest, commented, "The Cnnest Model is the third generation trade model in the industry of real estate. We believe our model provides a complete solution for anybody who has a cell phone or can access the Internet. As the widespread use of cell phones in China continues to grow, we believe our Mobile model will become a standard for the industry. In Shanghai, China alone, the transactional volume of real estate sales and rentals exceeded over $14.65 billion and 27.28 billion in 2003 and 2004, respectively. Our fees are only 30% of traditional brokerage fees. As the market for real estate in Shanghai, and throughout the country continues to boom as projected, we believe that with only a small percentage of market penetration that the company will be able to generate tens of million of dollars in income."

About Dragon Venture

Dragon Venture ("Dragon") is doing business in China through its subsidiaries. Dragon was established to serves as a conduit between Chinese high-growth companies and Western investors. The current focus of Dragon is on the development of wireless 3G-based applications and business solutions. Two companies that Dragon has acquired are among of the leading providers of mobile Internet applications and business solutions in China. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger & acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Our focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and Chinese companies, focusing on emerging technology industries including Telecommunication, Information Technology, Wireless applications, and other high-tech industries. For more information about Dragon Venture, please visit http://www.dragonventure.net