CHONGQING, China, July 17 /Xinhua-PRNewswire-FirstCall/ -- Pay88, Inc. (OTC Bulletin Board: PAYI) announced that in April 2007, it entered into an agreement with China Telecom's Chongqing representative, Chongqing Telecom Value-Added Service Center ("CTVAC") for the distribution and direct sale of 'Rainbow Island' digital online game cards. 'Rainbow Island' digital game cards are a Shanghai ShanDa Networking Co., Ltd product. CTAVC is ShanDa's exclusive reseller of "Rainbow Island" digital game cards in Chongqing.
"This agreement has been very significant to our company," states Mr. Guo Fan, President and CEO of Pay88. "We are being recognized in the region as a leading provider of multiplayer online game products and we are continuing to strengthen our relationships with both the major game operators and telecom providers. It is a great opportunity for us to be able to work with these companies." Mr. Fan also added, "'Rainbow Island' is a very popular game and we expect this agreement to have a very positive effect on the operations. Pay88 is committed to continuing to ramp up sales by focusing on the online multiplayer game cards and increasing their product lines."
About China Telecom
China Telecom Corporation Limited is a provider of wireless telecommunications services in China, offering voice, data, image, multimedia, telecommunications and information services in 20 municipalities, provinces and autonomous regions in China.
About Shanghai ShanDa Networking Co., Ltd
Shanda Interactive Entertainment Limited (Nasdaq: SNDA) is an interactive entertainment media company in China that offers a portfolio of diversified entertainment content that is accessible via Internet.
About Pay88
Pay88, Inc. engages in the distribution and reselling of prepaid online video game time as well as a range of prepaid digital cards, including online multiplayer game cards, phone cards, and education cards through distribution networks in Chongqing, China and through http://www.iamseller.com .
Safe Harbor Statement
A number of statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including without limitation, market penetration of our products, competitive market conditions, and the ability to secure sufficient sources of financing. The actual results Pay88 may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Pay88 encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. Pay88's public filings may be viewed at http://www.sec.gov .
For more information, please contact:
Guo Fan
Tel: +1-603-848-6439
Website: http://www.pay88.com (Corporate site)
http://www.iamseller.com (Retail site)
