Alpha Spacecom Inc. Chairman Issues Letter to the Shareholders HONG KONG and BEVERLY HILLS, Calif., Feb. 4 /PRNewswire-FirstCall/ -- Alpha Spacecom, Inc. (OTC:ASPC) (BULLETIN BOARD: ASPC) , a China-based entertainment Company converting movie theaters and multi-cinema complexes to digital projection, and distributing entertainment in China via satellite, including film, theater, live music and sporting events, today released the following: Alpha Spacecom Inc. (our Company) is now positioned to become a leader in the rapidly expanding leisure entertainment economy of China. Over the past several months, since I became Chairman of the Board of Directors and Chief Executive Officer of our Company, I have overseen the reorganization of our corporate structure and financial operations in order to be fully transparent under Sarbanes-Oxley and organized the strategic partnerships necessary to effectively operate our business in the Peoples Republic of China. Thus, any questions about our being able to execute our business plan is now resolved. The Cooperation Agreement with China Film Group, effective July 29, 2004, (the Project) calls for the Joint Foundation of the Digital Cinema Reconstruction Corporation and Satellite Digital Cinema Distribution, giving our Company the exclusive license for all media entertainment transmission to all digital cinemas in China for the next thirty years. The government of China has mandated that cinemas be converted to digital projection format and be completed China-wide by the year 2015. This is very important business and is related to China's entry into the World Trade Organization. It is my understanding that there are about 100,000 screens in China. The immediate mission of our Project is to convert movie theaters and cinema complexes in China's major cities to Digital Projection Format and to digitize and later transmit domestic and Western film, theater, live music and sporting events via satellite to those venues. The China International Engineering Consulting Corporation (CIECC) has approved our recently completed comprehensive engineering study and business model. This is ready to be submitted to the State Administration of Radio, Film and Television (SARFT) for approval prior to our beginning operations. We expect approval without any changes timely. The Chinese government has invested approximately $25,000,000 US, and to date, 56 cinemas have been converted and upgraded to digital projection format using the latest equipment from the worlds leading manufacturers. From these installations it will be determined which manufacturer will be chosen for the next 100 to 400 conversions planned over the next two years. I have personally spoken to several international satellite operating companies eager to associate with us on our Project. I have been assured that the transponder space we will require is available for our long-term needs. Further, I am confident that I can negotiate affordable and favorable long-term leases for these facilities, thus removing the necessity and the considerable expenses of launching and maintaining our own communications satellite. Our Project is on a fast track for introduction to China's growing leisure entertainment experience economy. My mission, along with that of our management team, is to maximize our opportunities, succeed in our business, keep you informed regularly of our progress, and deliver the value to you we believe, as our shareholders, you deserve. Sincerely, Fung T. (Terence) Sien Safe Harbor Statement: This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-KSB as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law. Contact: John Santoyo Public Communications 213-426-3206 213-426-3207 Los Angeles, California, USA DATASOURCE: Alpha Spacecom Inc. CONTACT: John Santoyo, Public Communications, +1-213-426-3206, or +1-213-426-3207, , for Alpha Spacecom Inc.

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