BOCA RATON, FL -- (MARKET WIRE) -- 09/09/2004 -- Genesis Technology Group, Inc. (OTC BB: GTEC) announced today that its newly formed joint venture, CIIC Investment Banking Services Company, Limited commenced business operations in Shanghai.

The newly formed joint venture is with CIIC Investment Corporation Limited, a wholly owned subsidiary of China International Intellectech Corporation (CIIC), a leading state-owned enterprise that has been funded solely by the State Council, the China Cabinet. Genesis owns 30% of this joint venture. Professor Tingting Shan and Robert Zhuang, two members of board of directors of Genesis, were appointed as General Manager and Vice General Manager, respectively. Robert Zhuang, President of Shanghai Yastock, a wholly owned subsidiary of Genesis, is responsible for daily operations of the joint venture.

This new venture will provide consulting services for elite Chinese companies that wish to enter the US capital markets, as well as help state-owned companies undergo management buyout program. Genesis will oversee operations in North America and work with the CIIC from the firm's new Shanghai facility. Genesis President Dr. James Wang, who is traveling in China, said: "We are excited with this joint venture and believe it will be one of major profit centers that management strives to build in the past two years. This joint venture will also provide Genesis a platform to evaluate Chinese companies to acquire. One of main focuses of our expansion strategy will be to acquire more elite Chinese companies and grow them to the next level."

Dr. Wang concluded, "The joint venture has already had three contracted clients in the past several months. With combination of income from 30% ownership of the joint venture, services that we will provide in the US for these elite Chinese companies, and direct investment by Genesis in these elite Chinese companies, we forecast they could add $2 to $4 million to our bottom line in the next 12 months."

About Genesis Technology Group, Inc.
Genesis Technology Group is a business development firm that fosters bilateral commerce between companies in the West with those in China. Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. The Company has fully staffed offices in the United States, Germany, and China. Genesis has established effective working relationships with various governmental agencies, public institutions, and private industries in China. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and elite Chinese companies, focusing on emerging technology industries including, but not limited to, nanotechnology, biotech, wireless telecommunication, information systems, environmental protection and biomedicine technologies.

For more information, visit www.genesis-technology.net

About China International Intellectech Corporation
China International Intellectech Corporation (CIIC) was founded in 1987. Under the direct administration of the State Council, the China Cabinet, it is a leading state owned enterprise featuring unique operations in techno intellectual service trade. Funded solely by the State Planning Council, Beijing based CIIC is guaranteed by the Bank of China. Since 1994, it had been among the top ten of the country's 955 foreign economic related companies. CIIC's primary business is to provide various services to foreign enterprises. CIIC conducts international placement services for 3,300 companies in 76 countries and regions. It had annual revenues over $600 million in 2003. For more information, visit http://www.ciic.com.cn/.