NORCENT TECHNOLOLGY INTRODUCES HOME ENTERTAINMENT, COMPUTER, AND MEMORY PRODUCTS IN U.S. Affiliate of Leading China IT and Communications Firm to Aggressively Compete for Market Share by Offering High-Quality Products at Competitive Prices

Introduces Norcent Technology, a leading Chinese manufacturer and marketer of consumer electroncis and PC products, to the American trade and consumers. Norcent is entering the American market in these two industries.

San Dimas, CA — Norcent Technology, Inc., an affiliate of Shanghai Hongsheng Technology Company, Ltd. (Shanghai stock exchange, symbol 600817), announced that it has begun marketing products in the United States under its own name. Initially, it is offering products in the home entertainment, computer, and memory markets. The company is incorporated in the state of California. Shanghai Hongsheng Technology Company is one of Chinas top IT and communications businesses.

Though we are a major player in China, to be recognized as a truly international company, we have to be successful in America,” commented Dennis Robinson, Chief Financial Officer of Norcent Technology, Inc. in making the announcement. Our work is cut out for us. We are entering mature, but very dynamic, markets with many well-known and established brands. We believe that our strategy to offer products with exciting technology, superb quality, and contemporary styling, all at extremely affordable prices, will assist us in gaining market shares in the United States in all three categories.”

The Norcent lineup includes DVD players, high-definition televisions, home theater systems, and CRT televisions in home entertainment; DVD-RW, CD-RW, CD-ROM, DVD-ROM, and a mini-DVD player/DVD-ROM optical drives and LCD monitors for the computer market; and TSOP and CSP-based memory and semiconductor storage products.

In March 2002, the company became the first Chinese manufacturer to sign agreements with both the 6/C and 1/C groups for DVD patent licensing. 6/C members include Hitachi, Ltd.; Matsushita Electric Industrial Co., Ltd. (Panasonic); Mitsubishi Electric Corporation; Time Warner Inc.; Toshiba Corporation; and Victor Company of Japan, Ltd. (JVC). 1/C is made up of Thomson Consumer Electronics, Inc. Since that time, it has also signed the 3/C agreement, making it the first Chinese manufacturer to sign the three big DVD licensing agreements.

Robinson stated that Norcent Technology will follow its parent companys lead by hiring young, aggressive, talented individuals. People, he says, that are eager to use and further develop the many new technologies that emerge virtually every day. He added the company is currently working on products using the new mp3PRO audio format, blue tooth technology, MPEG-4 and true progressive scanning. Our company is structured in a manner that allows us to quickly react to the introduction of new technology and to any changes in existing technology,” he said.
   
The companys aggressive pricing policy enables it to sell many of its products at prices ranging from 33% to 66% less than many popular brands. Norcent-branded products are available at Frys Electronics, Sears, The Good Guys, Circuit City, Best Buy, and CompUSA as well as on the Internet at Outpost.com, cnet.com, and ebay.

Norcent Technology, Inc. is located in San Dimas, CA, a suburb of Los Angeles. The location is close to several shipping ports and provides easy access to many rail, truck, and airline terminals.

For further information, call (909) 305-8885 or visit its web site at www.norcent.net.

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Contacts:
Norcent Technology, Inc.
(909) 305-8885
Dennis Robinson
Chief Financial Officer
drobinson@norcent.net
Harvey Schneider
Vice President Sales, Computer Products
hschneider@norcent.net

All products/services and trademarks mentioned in this release are the properties of their respective companies.
© 2002 Norcent Technology, Inc.. All rights reserved.