Given the locker-room, alpha-male atmosphere of the trading floor, it's no surprise that finance-industry types are drawn to boxing. "Most of these hedge-fund guys think they're masters of the universe," says John W. Allen, chairman and chief executive of New York-based Greater China Corp., who attended Oden vs. Smith in London. That's not to mention the cachet that boxing gives you at work and with clients.

NEW YORK, Dec 15, 2004 /PRNewswire-FirstCall via COMTEX/ -- Greater China Corporation (BB: "GCHC") today released information on its wholly owned Hong Kong subsidiary, Unigel Limited (http://www.unigel.com) ("UNIGEL").
Richard B. George, Greater China Corporation Director, and Chairman of UNIGEL provided an update on recent activities for UNIGEL and its 60% owned Chinese subsidiary, Shenzhen Unigel Telecommunication Co. Ltd (SUTCO).

Mr. George stated that UNIGEL's on-going product development had received a very favorable reception at the recent 53rd International Wire and Cable Symposium (IWCS) in Philadelphia -- http://www.iwcs.org/. These developments, which are protected under a patent awarded to UNIGEL in 2004, have led to increased orders from major international cable companies. Further patents are currently pending. UNIGEL has agreed to sponsor the 54th IWCS to be held in Providence, Rhode Island, USA, from November 13 to 16, 2005.

Mr George also stated that demand for UNIGEL products in China and the rest of South East Asia was increasing and UNIGEL had recently expanded its capacity at the SUTCO factory with new production equipment. The full effect of this should be seen during the course of 2005. UNIGEL will be exhibiting its full range of products at Wire Singapore, September 20 to 22, 2005 http://www.mdna.com/shows/wiresingapore.html

Because of the increased demand outside China for a variety of UNIGEL products the company has entered into discussions in London for a possible equity offering of a minority interest in UNIGEL in early in 2005. Proceeds from this financing would be used to construct additional production facilities that would serve customers in Europe and North America.

UNIGEL is wholly owned by Greater China Corporation http://www.greaterchinacorp.com. Statements in this press release that are other than historical facts are "forward-looking" in that they contain expectations about future results. Forward-looking statements involve numerous risks and uncertainties. GCHC and UNIGEL have tried to identify any forward-looking statements by using words such as "hopes," "believes," and other similar expressions. Although it is believed that expectations reflected in forward-looking statements are reasonable, there can be no assurance that this will prove to be correct.

Contact: John W. Allen, Tel: 212-765-4547

SOURCE Greater China Corporation

CONTACT: John W. Allen for the Greater China Corporation,
+1-212-765-4547