C Y Foundation to Explore Further Cooperation with China Trends to Co-develop Computer Games Competition in Internet Cafes in the PRC

Jun 03, 2010, 08:17 ET from C Y Foundation Group Limited

HONG KONG, June 3 /PRNewswire-Asia/ -- C Y Foundation Group Limited ("C Y Foundation" or the "Group"; HKEx: 1182) announces that the Group is exploring further cooperation opportunities with a subsidiary of China Trends Holding Limited (HKEx: 8171), following a framework cooperation agreement entered into on 11 July 2008 (the "Framework Agreement") to jointly develop computer games competitions in internet cafes in the PRC. The two parties are further exploring business arrangements, which will have and not limited to contracting business, and cooperating with the media. There aren't any agreements reached which are discloseable under rule 13.23 of the Rules Governing the Listing of Securities (the "Listing Rules").

Further, the Group would like to clarify that it has not entered into any agreement, understanding and negotiation with China Innovation Investment Limited ("China Innovation", HKEx: 1217). The Group has not committed to the amount of money as reported in the newspaper before and is not aware of any reason or background.

About C Y Foundation Group Limited

The C Y Foundation is an interactive digital entertainment company that provides quality entertainment across China. It is dedicated to organizing and hosting P2P prize tournaments throughout mainland China. The C Y Foundation also operates a national electronic tournament platform that is promoted through a network of Internet caf¨¦s, and organizes the International Entertainment Festival (IEF), Asia's premier annual e-sports tournament. IEF offers an online platform dedicated to daily tournaments at: http://www.iefgames.com .

    Website: http://www.cyfoundation.com

    For further information, please contact:

    Porda International (Finance) PR Group
     Ms. Harriet Lau
     Tel:   +852-3150-6761
     Email: harriet.lau@pordafinance.com.hk

     Ms. Winnie Chan
     Tel:   +852-3150-6755
     Email: winnie.chan@pordafinance.com.hk

     Ms. Cara Pang
     Tel:   +852-3150-6736
     Email: cara.pang@pordafinance.com.hk

     Ms. Abbey Zhao
     Tel:   +852-3150-6752
     Email: abbey.zhao@pordafinance.com.hk

     Fax: +852-3150-6728

SOURCE C Y Foundation Group Limited