BARNSTEAD, N.H. and CHONGQING, China, Dec. 1 /PRNewswire-Asia-FirstCall/ -- Pay88, Inc. (OTC Bulletin Board: PAYI), a rapidly growing digital technology company that is a reseller of online multiplayer game cards and internet game time in China, announced today that it is providing technical support and management services for a number of Chinese government Web sites and is conducting a high level of business with them.
Among the Web sites developed by Pay88 or receiving Pay88 technical support are http://www.newssc.org , http://www.17791.com and
http://www.in-heart.com .
http://www.newssc.org is the gateway network for the News Center of the Sichuan Province and provides such features as general daily news and business news to the people residing in the province. Pay88 has already established a strategic cooperative partnership with newssc.org and this agreement further strengthens business and technical cooperation.
http://www.17791.com has been designed for small to medium businesses in the Sichuan Province, enabling the businesses to market their products through e-commerce and online commercial shopping.
http://www.in-heart.com is a community-building 2.0 Web site where users can freely communicate and interact with one another. It is designed for the 5 million people who reside in the center of the Chongqing metropolitan area, and includes a special, web site user guide, a directory of Chinese words and terms, and online games.
Guo Fan, Chairman and President, Pay88, said, "Working with the various provincial governments on these unique Web sites represents our first contacts with those organizations. These are large development and technical projects for Pay88 which we believe will result in considerable additional revenues for our company."
He added, "Currently, we are testing the three new Web sites. Once they are up and running in early 2009, we will continue to work with site managers in improving and enhancing the sites to make each one more user friendly."
About Pay88, Inc.
Pay88, Inc. (OTC Bulletin Board: PAYI), through its wholly owned subsidiary Chongqing Qianbao Technology, Ltd., is a leading reseller of online multiplayer game time in China in more than 20 cities. The Company has successfully captured the leading market share of online multiplayer game time in Chongqing, a municipality of more than 31 million people that is the third fastest-growing economy in China and the gateway to central and western China. Pay88 leverages such consumer establishments as retail kiosks and internet cafes to increase its distribution of highly popular games for an increasing number of gaming companies. Over the next year, the Company will continue to develop and improve its internet gaming platform, expand its distribution Web sites, and increase its overall product line, as well as expand into many additional cities in China.
Pay88 was incorporated in March 2005 in the State of New Hampshire, where it continues to maintain its executive headquarters, and subsequently reincorporated in Nevada in July 2005.
For additional information, visit http://www.iamseller.com/English/Index.aspx .
Forward Looking Statements
Certain information contained in this news release, including without limitation, statements related to Pay88's outlook for 2008, which are based on management expectations, is considered forward looking statements. Investors and prospective investors are cautioned about factors which have in some cases affected Pay88's actual results and could affect its actual results and cause them to differ materially from those expressed in any such forward looking statements. Actual results may also differ over factors which the Company has no control including general economic and business conditions, earthquakes or effects of war or terrorists acts on the capital markets or on company activities. Please refer to Risk Factors contained in the Company's annual report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2008.
Pursuant to a July 1, 2008 contract, Consulting for Strategic Growth 1, Ltd. (CFSG1) provides Pay88, Inc. with strategic consulting, business advisory and investor and media relations. Independent of CFSG1's receipt of cash compensation from Pay88, CFSG1 may choose to purchase the Company's common stock and thereafter liquidate those securities at any time it deems appropriate.
For more information, please contact:
Consulting for Strategic Growth 1
Investor Relations
Stanley Wunderlich, CEO
Tel: +1-800-625-2236
Fax: +1-646-205-7771
Email: info@cfsg1.com
Web: http://www.cfsg1.com
Media Relations
Daniel Stepanek, EVP
Tel: +1-646-205-7767
Fax: +1-646-205-7771
Email: dstepanek@cfsg1.com
