October 29, 2002 Hangzhou

Hangzhou, (Alibaba.com) - In the morning of Oct. 29, Valley International Trade Association (VITA) of San Fernando Valley, California, U.S.A., signed a cooperation contract with Alibaba.com to establish a co-branding site, vita.alibaba.com, for further development of mutual beneficial relationship.

In the contract, Mr. Burce Ackerman, president of VITA, and Ms. Cathy Zhang, vice-president of Alibaba.com, signed their names. Mr. Ackerman explained the mission of VITA is to stimulate the business of the San Fernando Valley. He said, "people are looking for us on the net, and will through Alibaba find us."

After the signature ceremony, Ms. Zhang showed the guests around the Research & Development Center of Alibaba.com. And Mr. Ackerman gave a presentation to the staff of International Site Operation Department about the economy and life in San Fernando Valley.

Alibaba.com has been working with VITA for quite a long time. Mr. David Iwata, one of the board members at VITA, also the president of Asian Business Association in Southern California (ABA), is Alibaba's great partner. In April 2001 last year, VITA and ABA co-organized the first Alibaba seminar in Los Angeles area. In October 2001, nominated by Mr. Iwata, Jack Ma, CEO of Alibaba.com, was honored 2001 Asian Business Association Business Leadership Award in Hollywood. Same year in November, upon VITA and ABA's invitation, John Wu, CFO of Alibaba.com, was the guest speaker at 4th Annual Southern California International Trade Conference in San Fernando Valley. Again in May 2002 this year, VITA/ABA and Alibaba worked together on a sourcing conference during International Month in Southern California.




Mr. Ackerman is part of a trade commission traveling on behalf of the City of Calabasas (in Southern California) to establish a sister city relations with Anqing City of Anhui Province, China. The commission is headed by the Mayor of Calabasas City, Mr. Dennis Washburn, and his wife Carol Washburn, who is Executive Director of the Calabasas Chamber of Commerce. Mr. Ackerman is accompanied by his wife, Cathy, and a couple of staff members from the City government of Calabasas.

VITA is a non-profit association dedicated to assisting San Fernando Valley business compete in the global marketplace. VITA is a full strategic partner of Economic Alliance of the Valley with a couple of other organizations. Mr. Ackerman is also the president and CEO of Economic Alliance.