CNCN Chun Can Capital Group (CE)

CinTel Corp (CinTel) (OTCBB:CNCN) announced that it has entered into an agreement to issue an aggregate of $63 million in convertible bonds (CB), convertible to the common stock of the company at $0.70 per share, which will be funded on April 12th, 2007. CinTel plans to use the proceeds of the investment to continue its strategic acquisitions in more diverse and profitable businesses focusing on the semiconductor industry and emerging technologies. The investor in the CB is the Woori Private Equity Fund (�Woori PEF�). Woori PEF is a subsidiary company of Woori Financial Group (�Woori FG�), one of the largest financial groups in Korea with assets of over $170 billion USD and aggregate consolidated capital of over $13 billion. As a result of this investment, CinTel anticipates it will be able to make key, strategic, accretive acquisitions in the semiconductor and other industries that will create synergies with existing operations, thereby enhancing shareholder value. Sang Don Kim, the CEO of CinTel Corp, said, "We are excited to receive this considerable investment in the form of convertible bonds in CinTel at a significant premium to the current stock price of CinTel. CinTel plans to become a major semiconductor player with some very important acquisitions. When all the pieces of the puzzle are fitted together, a picture of a vibrant, profitable and growing company with a unique business model will continue to emerge." About Woori PEF: (www.woorifg.com) Woori Private Equity Fund (�Woori PEF�) is a subsidiary of Woori Financial Group which is one of the top three financial groups based in Korea. The major business area of Woori PEF consists of the private equity business in accordance with the Indirect Investment Asset Management Business act. Woori Financial Group is listed on the New York Stock Exchange (Ticker:WF) and the Korea Stock Exchange (Code:053000). About CinTel Corp: (www.cintelcorp.com) 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 and Chinese-based semiconductor technologies. With its main headquarters in North America and operations worldwide, CinTel Corp. provides a wide 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, CinTel has created a conglomeration of technology products to include NAND flash memory packaging, LCD assembly, semiconductor packaging and testing specialists, as well as a total solution provider for memory applications for home appliances, semiconductor and 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. 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.