EXHIBIT 99.1


NEWS              FOR RELEASE: August 24, 2004


Contact:          Bevo Beaven, Vice President
                  Bill Conboy, Senior Account Executive
                  CTA Public Relations
                  303-665-4200
                  Bevo@ctapr.com
                  Bill@ctapr.com

China Digital Wireless Reports 41% Increase in Revenue for Second Quarter

Shanghai,  China - China Digital Wireless, Inc. (OTC: CHDW) reported revenues in
the second quarter ended June 30, 2004 increased 41% to $6.1 million compared to
$4.3 million  during the second  quarter of 2003.  Gross profit  increased 2% to
$1,035,683  from  $1,017,963  during the same  three-month  period.  The Company
recorded a net loss of $190,000, or ($0.01) per share for the three months ended
June 30, 2004, compared to a net income of $883,000,  or $0.06 per share for the
same period the prior year.  The decrease in net income was mainly  attributable
to the increase in general and administrative expenses and costs associated with
becoming a publicly  traded  company.  Without the aggregate one time expense of
$1,014,423  resulting  from the issuance of stock to a  consultant  and from the
issuance of securities in a private placement, the company would have reported a
profit for the period.

In June 2004,  China Digital  Wireless,  formerly  Boulder  Acquisitions,  Inc.,
entered into a stock exchange agreement with Sifang Holdings Co. Ltd..  Pursuant
to the stock exchange agreement,  Boulder  Acquisitions issued 13,782,636 shares
of its common stock in exchange of 100% equity  interest in Sifang  Holdings Co.
Ltd., making Sifang Holdings a wholly owned subsidiary of Boulder  Acquisitions.
Boulder  Acquisitions  subsequently  changed its name to China Digital  Wireless
Inc. to better reflect the market it serves.

China  Digital  Wireless  enables  wireless  users in China to access  financial
information,  execute stock  trades,  and access  various  entertainment-related
services  on their  wireless  phones.  By  bundling  its  financial  information
software  onto the  wireless  phones it  markets,  the  company  is  building  a
recurring  high-margin  subscriber  base. China Digital Wireless intends to grow
revenues by expanding  its  subscriber  base and adding  additional  value added
services that are in demand in China. In addition to its value-added information
services  business,  China Digital  Wireless  distributes  various  mobile phone
models in the Shanghai, China region.

The information in this news release includes certain forward-looking statements
that are based  upon  assumptions  that in the future may prove not to have been
accurate  and are  subject to  significant  risks and  uncertainties,  including
statements  to the future  financial  performance  of the Company.  Although the
Company  believes  that  the  expectations   reflected  in  its  forward-looking
statements are  reasonable,  it can give no assurance that such  expectations or
any of its  forward-looking  statements  will prove to be correct.  Factors that
could  cause  results to differ  include,  but are not  limited  to,  successful
performance of internal plans, product development and acceptance, the impact of
competitive services and pricing, or general economic risks and uncertainties.