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To: john who wrote (55)1/15/2002 2:05:48 PM
From: CIMA   of 67
Internet Golf Association Announces It has Merged With Harbin Bioengineering, a Chinese Bio-Tech Company

NEW YORK, Jan 15, 2002 (BUSINESS WIRE) -- Effective on December 18, 2001, Internet Golf Association, Inc., (OTCBB:IGAI) a corporation organized under the laws of the state of Nevada ("Internet Golf") and Harbin Three Happiness Bioengineering Co., Ltd., a People's Republic of China limited liability company ("Harbin Bioengineering"), reached an agreement whereby the Internet Golf acquired 100% of the outstanding securities of Harbin Bioengineering and Harbin Bioengineering became a wholly-owned subsidiary of Internet Golf on closing.
The company being acquired is in the business of bioengineering and natural pharmaceuticals. Founded by Mr. Liu Shujun, the Chairman and President of the Company in 1994, Harbin Three-Happiness Bioengineering Co., Ltd. is a privately held entity. The company is engaged in the development and production of bioengineering products and Chinese medicine. Due to the distinctive competencies of the Company's employees and its inter-company synergies, the company is well-positioned to take advantage of the increased demand for traditional Chinese medicine, as well as the significant opportunities presented for marketing its newly developed products and has become a leading producer and developer of bioengineering products and Chinese medicine in China.

Since 1998, the company has focused on new product research which combines bio-technology and traditional Chinese medical technology and has developed 12 biotech products: Seaweed Iodine, Wen-Guan Fruit Kern Cream, Cease-Enuresis Capsule, soybean Peptide, Dairy Peptide, 10-HDA, edible purple colorings, and fish protein. A new product developed by the company, the soybean peptide anti-cancer medicine, is now in the process of clinical testing and was awarded as one of the major hi-tech projects in the China. The company's revenue increased 81% from USD 3.3 million in 1999 to USD 6 million in 2000. In 2000, the company's net profit was USD 1 million.

Headquartered in the city of Harbin, the company owns a biological pharmaceutical factory, a bio food-processing factory, and a biotech research institute. Each year, 6% of total revenue is allocated to research and development. To convert the research results into production, the company has set up a structure that combines production and research together. The company has 12 sales and marketing branches and over 1000 retail distributors around China.

The company has a total of 150 employees, over one-third of whom have advanced technical expertise. To support its sustained growth in the development of high-tech products, the company also cooperates with Medical Plants Research Institute under China Academy of Medical Sciences, Heilongjiang Chinese Medical University, Harbin University of Medical Sciences, Ocean Research Institute of China Academy of Sciences, Ecological Research Institute of China Academy of Sciences, all in bio-tech research and development. There are over 60 outside professors or experts in the fields of traditional Chinese medicine, marine bioengineering, food engineering, and chemistry associated with the company in its research and development in food engineering, clinics and chemistry, which ensures the company's leading position in China's biotech industry and also established a solid base for the company's further expansion.

This news release contains forward-looking statements. Actual results may differ materially from any forward looking statements contained in this news release due to a number of factors that could materially and adversely affect Internet Golf's business, financial condition, operating results and stock price. These factors are discussed in more detail in Internet Golf's filings with the Securities and Exchange Commission. The information contained in such discussions should be considered in evaluating Internet Golf's prospects and future financial performance.

CONTACT: Warner Technology & Investment Corp., New York
David Zhou, 212/938-2326
Fax: 973/495-8221

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