【正文】 ad input. We will provide VoiceXML based voice browsing service. VoiceXML（ Voice eXtensible Markup Language） is issued by the VXML Forum, which was founded by Motorola, Lucent, ATamp。T. BeVocal received 45 million in first round. Quack was just acquired by AOL. Our Integrated Messaging service looks similar to Shoutmail’s. We provide voice access to other boxes through our voice portal. This is the key differentiation to the existing Unified Messaging service providers, like 88win, 70web, HotVoice, etc. They only provide voice access to its own box users. In fact, because of the “stickiness” of the users, they will remain with their old boxes and it is hard to migrate to a new box. Using our service, users do not need to migrate to a new box. It will be easier to develop users than normal Unified Messaging service. We will also provide traditional Unified Messaging service to provide a full range of services. Shoutmail attracted 350 thousand users in two months since the launch of the service. The Kelsey Group predicts that advertising and transaction revenue for these voice portals will produce $5 billion in revenues by 2020 and another $6 billion for associated hardware, software and Net service provider panies. is the first pany in China that claimed to be a speech portal. They use IBM ViaVoice voice recognition software. The problem is that ViaVoice is not designed for voice portal service and the most important thing is that it is too expense. For reference, it costs USD 400K for it development toolkit, not including the license fee for future service. We will license core technology of voice recognition engine from Tsinghua University, just like what SpeechWorks has done with MIT. SpeechWorks has reached agreement AOL and Net2Phone to provide voice recognition technologies. AOL has 1% stake in SpeechWorks and it costs AOL $5 million. Tsinghua University is good at Chinese recognition even ATamp。 to foreign petitors, we have strong localization advantage – we understand the customer needs, we have relationship, we have the local development team and, the most important, our cost is pretty lower. It is estimate that to have the similar function, our cost is only 1/5 of the foreign petitor’s. IP Telephony The following figure is a forecast from the Forrest Group: 0100200300400500600700Millions of Users1999 2020 2020 2020 2020 2020WWW UsersTotal Web Talk UsersPCPhone UsersConfidential Intway 11 We have seen a lot of forecasts like this. Please see the “Inter Telephony Statistics” for reference. Basically, analysts estimate that the traffic volume and the revenue of IP Telephony grow more than 100% annually and, unfortunately, most of the forecast cannot match the real growth. We can see from the figure that by 2020, the number of PCto Phone users will be 1/3 of the total WWW users. According to a report released in November, 1999, from Yankee Group, there will be more than 40 million Inter users in 2020, surpassing any other Asia countries. And in 2020, China will have the largest Inter user base in the world, 110 million users, surpassing the US. That means in 2020, there will be at least 30 million PCtoPhone users in China. The market potential is tremendous. It is a rapidly growing market. Look to the long run, in the broadband age, no matter wired or wireless, no matter video, data or voice, all of the information will be transmitted over IP. IP telephony is just the start to the future. We will be dedicated in IP munications technologies and we believe we have a brilliant future. Currently the incumbent IP telephony carriers just provide PhonetoPhone service. PCtoPhone is not in their plan. Actually PCtoPhone is more like software based, you have upgrade it frequently and add new features endlessly. The carriers is not good at doing these. They position themselves as infrastructure providers. The current PCtoPhone players are overseas panies: MediaRing and Net2Phone. There is no local players. We believe local panies do have the unique petitiveness. Legend and Huawei are the best examples. There are plenty of room for PCtoPhone. There are several domestic panies developing IP telephony gateway, but they do not have the PCtoPhone technology and they are not service providers. They focus on providing technologies instead of services. We will have the early mover advantage. We will be back with our strong technical team and bring new features and new services to the market quickly and consequently, to keep our leading position. The benefits on cooperating with China Net are the following: ? Utilizing China Net’s stateoftheart IP backbone ? No need to invest a lot in infrastructure ? Quick start ? Good voice quality ? Utilizing China Net’s brand name and marketing power As a value added voice service provider, the cooperation with the carriers is important. For example, Net2Phone has a good relationship with ATamp。T just finished the strategic investment in Net2Phone. ATamp。T Solutions, covering North China. ATamp。T. He was Confidential Intway 12 the Project Manager for the Telemunications and IP Network and Service Consultation Project of MOR (Ministry of Railway). It is a multimillion pure consultation project. MOR has been approved by the State of Council to bee a new independent carrier. Richard has been with ATamp。T, he was an Acco