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: email@example.com Ms. Winnie Chan Tel: +852-3150-6755 Email: firstname.lastname@example.org Ms. Cara Pang Tel: +852-3150-6736 Email: email@example.com Ms. Abbey Zhao Tel: +852-3150-6752 Email: firstname.lastname@example.org Fax: +852-3150-6728
SOURCE C Y Foundation Group Limited