HONG KONG and NEW YORK, June 2, 2008 (PRIME NEWSWIRE) -- Sino Fibre Communications, Inc. (OTCBB:SFBE), a broadband and value added Internet services provider in China, today is pleased to announce that it has signed an Agreement with Shenzhen Bank-Union Easy Business Solution Financial Services Ltd. to add the online payment processing services to the barter exchange platform. This capability will enhance the online barter trading and settlement system for the B to B e-commerce services to be provided to the 4.5 million medium and small private enterprises from our joint venture company with CAMSE.
Sino Fibre's CEO and President Daniel McKinney said, "We are extremely pleased about our agreement with Shenzhen Bank-Union. Shenzhen Bank-Union is the official payment processing agent of China. It is a crucial element of our online barter trade system that Shenzhen Bank-Union provide secured online payment processing services to our barter trade and e-commerce clients. The successful roll out of our joint venture business will no doubt bring in substantial traffic on the fiber optic network we represent and are in the process of acquiring from our Chinese partner."
About Shenzhen Bank-Union Financial Service Ltd.:
Shenzhen Bank-Union Easy Business Solution Financial Services Ltd. is a subsidiary of Union-Easy, based in Shenzhen, China to provide back-end payment processing and support. Union-Easy currently services companies such as China Merchant Bank, China Ping An Bank/Insurance, China Construction Bank and several other major banking institutions, as well as numbers of large franchises, in China.
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About Sino Fibre Communications Inc.
Sino Fibre Communications, Inc. ("Sino Fibre") is an open source company dedicated to providing international standard fiber optic backbone telecommunications transmission related sales and/or leasing services in China to all foreign telecommunications carriers and corporate users. Sino Fibre Communications is positioned to become China's premier provider of low cost fiber optical solutions to international telecommunication companies and large corporations that require Chinese intercity connectivity. Our low cost solutions range from the leasing of intercity dark fiber to providing co-location, broadband transport and IP-centric voice services.
For more information about Sino Fibre Communications, please visit: www.sinofibre.com
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