Industries International Inc. announced today that its board of directors has approved a change in its corporate name to China Telephone, Inc.

The name change is subject to shareholder approval and is anticipated to be effective within 40 days. The Company expects to change its ticker symbol simultaneously with its change of corporate name. The new ticker symbol will be announced when obtained. The Company said it has chosen its new corporate identity both to give investors and customers a more precise description of its products and services, and to reflect its strategic decision to focus on the manufacturing and sale of telephone products.

As China Telephone, Inc., the Company expects to enhance its rank as a leading manufacturer and distributor of consumer telephone gear in China, with well-established marketing channels in China, the U.S. and other regions. It currently markets phones in China under the Wondial Brand, and is selling telecommunications products at over 5,100 locations, including retail chains such as Wal-Mart China and Carrefour. It also has distribution agreements with several of China's telecommunications providers including China Telecom, China Unicom, and China Railway Communications.

Industries International Inc. is engaged in the development, production and distribution of communications terminal products, mainly corded and cordless telephones. It manufactures these products in China and markets them worldwide under the Wondial and Northwestern Bell brands.