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ICT TECH, EUROPHONE GROUP ANNOUNCE DEAL WITH GUANGDONG RICHVAST.

AsiaPulse News

| September 02, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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NEW YORK, N.Y., Aug. 30 /PRNewswire-FirstCall-AsiaNet/ -- ICT Technologies, Inc. (OTC Bulletin Board: ICTT) and Europhone Group of Companies have announced their entering into an agreement with Guangdong Richvast Group Co., Ltd. Allowing Europhone Group of Companies Inc. to be the general agent for air conditioning units under the brand name of 'Eurokool' in the global market place (excluding mainland China). Guangdong Richvast Group Co. Ltd.'s factory comprises 6,000 employees and is located in the Guangzhou area of the People's Republic of China.

The implementation of this agreement with Europhone Group of Companies allows Guangdong Richvast Co. Ltd. to increase their international scope by utilizing the vast worldwide sales distribution network of the Europhone Group of Companies. For Guangdong Richvast Co., Ltd. to achieve the above they have obtained a US$200 million credit line from the Commercial Bank of China.

Eighty thousand air conditioning units have been approved for production and distribution in Europe with the first delivery in the second week of September 2002. The distributor of this order, consisting of two containers of 200 units each, is Botzakis, A.E. of Athens Greece. Botzakis A.E. is an electronics distributor and engages in the ownership of supermarkets throughout Greece. The production of units ...

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Source: HighBeam Research, ICT TECH, EUROPHONE GROUP ANNOUNCE DEAL WITH GUANGDONG RICHVAST.

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