CNCN Chun Can Capital Group (CE)

CinTel Corp. (CinTel) (OTCBB: CNCN), Korea's top Internet traffic management (ITM) solution provider, announces that on December 1, 2006, due to the recent acquisition of Phoenix Semiconductor and Telecommunication Suzhou (PSTS) in China, the company, while still maintaining its support of the Internet Traffic Management market, has refocused its core business to the Semiconductor sector. With this switch our Board of Directors determined it prudent to restate deferred tax accounts and refine our MD&As from the past year. In order to present a more accurate profit picture in the future, which will reflect the result of change in business activities not obscured by the past operations, the Board of Directors determined to write off the accounting tax benefits on books from Korean losses carried forward from prior years. The adjustments resulted in increases in net losses after taxes of $1,203,899 for the year ended December 31, 2005, $78,473 for the three month period ended March 31, 2006, and $244,667 for the six month period ended June 30, 2006. Management believes this will have virtually no effect on our current operations and will simply allow us to show an improved stature with our anticipated net profit in the new year. Management believes we are transforming into a player on the international semiconductor, flash memory and LCD packaging sector that will bring improved strength to our share holder�s positions. CinTel�s CEO and President, Sang Don Kim says, �With CinTel�s new acquisitions and projected income for the coming year, we are ready to show significantly improved financials in the coming year. With our new direction we are insuring that our investors and the market are shown a strong and accurate reflection of our progress.� CinTel�s independent auditors and internal accounting staff have reviewed and accepted these changes and recognize that it should bring an improved picture of the company to the public and should satisfy any concerns of those investors who review our projections and past performance. About Phoenix Semiconductor and Telecommunication Suzhou (PSTS) (www.psts.com.cn) Phoenix Semiconductor and Telecom became a majority-owned subsidiary of CinTel Corp. in October 2006. It was founded by STS Semiconductor and Telecommunication in China in 2004 by acquiring certain parts of the packaging production lines from Samsung Electronics Corporation's China plant (SESS). It began mass production in 2005, and its main customer is Samsung Electronics Corporation, the largest semiconductor manufacturer in the world. PSTS's main products are semiconductor packaging, NAND flash memory and LCD assembly. About CinTel Corp: (www.cintelcorp.net) While CinTel maintains its position as a leader in Internet Traffic Management (ITM) systems it has also begun expansion into creative new markets and worldwide distribution of Korean based technologies. With its main headquarters in North American CinTel Corp. provides a range of enterprise technology solutions. Founded in 1997, CinTel introduced Korea's first dynamic server load balancer, which has now evolved into a world-class product line. With its ever expanding solutions with key partners and internal development has created a conglomerate of technology products to include NAND flash memory and LCD assembly, semiconductor packaging and testing specialists, as well as, a total solution provider for memory application for home appliances, semiconductor, TFT-LCD application products. CinTel's award-winning ITM solutions are marketed to customers worldwide, enabling customers to improve Internet and network traffic management, service levels, secure content, user experience, and reduce server loads and bandwidth demands. For additional information, please visit CinTel Corp�s website. Safe-Harbor Statement This press release may contain statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission. CinTel Corp. (CinTel) (OTCBB: CNCN), Korea's top Internet traffic management (ITM) solution provider, announces that on December 1, 2006, due to the recent acquisition of Phoenix Semiconductor and Telecommunication Suzhou (PSTS) in China, the company, while still maintaining its support of the Internet Traffic Management market, has refocused its core business to the Semiconductor sector. With this switch our Board of Directors determined it prudent to restate deferred tax accounts and refine our MD&As from the past year. In order to present a more accurate profit picture in the future, which will reflect the result of change in business activities not obscured by the past operations, the Board of Directors determined to write off the accounting tax benefits on books from Korean losses carried forward from prior years. The adjustments resulted in increases in net losses after taxes of $1,203,899 for the year ended December 31, 2005, $78,473 for the three month period ended March 31, 2006, and $244,667 for the six month period ended June 30, 2006. Management believes this will have virtually no effect on our current operations and will simply allow us to show an improved stature with our anticipated net profit in the new year. Management believes we are transforming into a player on the international semiconductor, flash memory and LCD packaging sector that will bring improved strength to our share holder's positions. CinTel's CEO and President, Sang Don Kim says, "With CinTel's new acquisitions and projected income for the coming year, we are ready to show significantly improved financials in the coming year. With our new direction we are insuring that our investors and the market are shown a strong and accurate reflection of our progress." CinTel's independent auditors and internal accounting staff have reviewed and accepted these changes and recognize that it should bring an improved picture of the company to the public and should satisfy any concerns of those investors who review our projections and past performance. About Phoenix Semiconductor and Telecommunication Suzhou (PSTS) (www.psts.com.cn) Phoenix Semiconductor and Telecom became a majority-owned subsidiary of CinTel Corp. in October 2006. It was founded by STS Semiconductor and Telecommunication in China in 2004 by acquiring certain parts of the packaging production lines from Samsung Electronics Corporation's China plant (SESS). It began mass production in 2005, and its main customer is Samsung Electronics Corporation, the largest semiconductor manufacturer in the world. PSTS's main products are semiconductor packaging, NAND flash memory and LCD assembly. About CinTel Corp: (www.cintelcorp.net) While CinTel maintains its position as a leader in Internet Traffic Management (ITM) systems it has also begun expansion into creative new markets and worldwide distribution of Korean based technologies. With its main headquarters in North American CinTel Corp. provides a range of enterprise technology solutions. Founded in 1997, CinTel introduced Korea's first dynamic server load balancer, which has now evolved into a world-class product line. With its ever expanding solutions with key partners and internal development has created a conglomerate of technology products to include NAND flash memory and LCD assembly, semiconductor packaging and testing specialists, as well as, a total solution provider for memory application for home appliances, semiconductor, TFT-LCD application products. CinTel's award-winning ITM solutions are marketed to customers worldwide, enabling customers to improve Internet and network traffic management, service levels, secure content, user experience, and reduce server loads and bandwidth demands. For additional information, please visit CinTel Corp's website. Safe-Harbor Statement This press release may contain statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.