July 16, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — ChinaNet Online Holdings, Inc. (AMEX: CNET), an internet services and media technology firm, said it has accelerated its schedule for the installation of "one-touch" banking information kiosks.

By year-end 2010, ChinaNet plans to have a total of 1,500 installed online kiosks, compared to 200 completed and 400 in progress, and said it expects these 1,500 kiosks to generate contract fees and online ad sale revenues totaling approximately $1.0 million in 2010, representing a strong growth momentum from 2009 of $153,000.

ChinaNet has recently accelerated its pace of installation of "one-touch" banking kiosks, including the end-of-June installation of kiosks at fifty retail banking branches in Henan Province, including seventeen in Xinyang, eighteen in Sanmenxia City and fifteen branches in Zhumadian City.

By the end of October, the company expects to have completed the installation of another four hundred kiosks in Henan Province as well as 300 kiosks in Shanghai. ChinaNet's initial bank kiosk deployment agreement consists of 200 kiosks to be installed for China Construction Bank Henan Branch under a renewable eight-year agreement.

ChinaNet said it also has in place an exclusive agreement with Shanghai Rural Commercial Bank to deploy online banking and display advertising kiosks in all 300 existing and all future SRCB branches.

The company launched its online bank kiosk business in June 2009 as part of its strategy to establish a multi-channel service and branding platform for small and medium companies.

The "one-touch" banking kiosks, provided through ChinaNet’s partially owned affiliate Shanghai Brilliance Technology Ltd., offers banks an on-line, digital service offering for customers.

ChinaNet Online Holdings, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI, is an internet services and media technology company providing online advertising and brand management solutions for small- and medium-sized enterprises in China.

The company, through its certain contractual arrangements with operating companies in the PRC, provides internet advertising and other services for Chinese SMEs via its portal website 28.com, TV commercials and program production via China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese banking patrons.

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