ChinaTel Announces That CECT-Chinacomm Has Secured a Credit Facility for 200 Million RMB (~US$29 Million)

USA - English

• USA - English

SAN DIEGO, April 13 /PRNewswire-FirstCall/ -- ChinaTel Group, Inc. (ChinaTel) (OTC Bulletin Board: CHTL), a leader in high speed wireless broadband and telecommunications infrastructure engineering and construction services, today announced that CECT-Chinacomm has recently received a 200 million RMB credit facility (in excess of US$29 million based on current currency exchange rates) from Hana Bank of China.  Chinacomm has contracted with ChinaTel to design and build a wireless broadband network for Chinacomm in 29 of the largest cities in China.  Chinacomm has already begun drawing on the credit line to accelerate deployment of its network, including special projects for government ministries in Beijing.  As deployment continues, Chinacomm expects to receive increased facilities for additional cities and projects.

ChinaTel's CEO George Alvarez stated: "We are very pleased Chinacomm was able to secure a substantial credit facility at below market terms.  In addition to the funds ChinaTel is paying Chinacomm from its equity financing, these loan proceeds will be used to accelerate deployment of the wireless broadband network Chinacomm has contracted with ChinaTel to build."

About ChinaTel Group, Inc.

ChinaTel Group, Inc. (ChinaTel), through its controlled subsidiaries, provides fixed telephony, conventional long distance, high-speed wireless broadband and telecommunications infrastructure engineering and construction services. ChinaTel is presently building, operating and deploying networks in Asia and South America: a 3.5GHz wireless broadband system across the People's Republic of China (PRC) with and for CECT-Chinacomm Communications Co., Ltd., a PRC company that holds a license to build the high speed wireless broadband system; and a 2.5GHz wireless broadband system in cities across Peru with and for Perusat, S.A., a Peruvian company that holds a license to build high speed wireless broadband systems. ChinaTel's vision remains clear: (i) to acquire and operate wireless broadband networks in key markets throughout the world; (ii) to deliver a new world of communications; and (iii) and invest in building long-lasting relationships with customers and partners to lead the broadband industry in customer service and responsiveness. Our strategy is to build leading-edge IP-leveraged solutions advanced by our worldwide infrastructure and leadership in emerging markets.  www.ChinaTelGroup.com

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties.  Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.

SOURCE ChinaTel Group, Inc.

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