HONG KONG and NEW YORK, May 28, 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 EPS Financial Services Co., Ltd. to add online payment processing services to its barter exchange platform. This capability will enhance the online barter trading and settlement system for the B-to-B e-commerce services provided to the 4.5 million medium and small private enterprises from the Company's joint venture company with CAMSE.
Sino Fibre's CEO and President, Daniel Mckinney, said "We are extremely pleased about our agreement with Union Pay-EPS. Union Pay is the official payment processing agent of China. This facility is a crucial element of our online barter trade system that Union Pay will provide secured online payment processing services to our barter trade and e-commerce clients. The successful roll out of our joint venture business will have no doubt to bring in massive traffic to ride on the fiber optic network we represent and are in the process of acquiring from our Chinese partner."
About Union Pay-EPS:
Shenzhen Bank-union EPS Financial Services Co., Ltd. is a subsidiary of China Union Pay based in Shenzhen, China to provide back-end payment processing and support. Union-Pay EPS currently services such companies as China Merchant Bank, China Ping An Bank/Insurance, China Construction Bank and other major banking institutions as well as numbers of large franchises in China.
For more information, please visit www.ebankunion.com
About Sino Fibre Communications Inc.
Sino Fibre Communications, Inc. "Sino Fibre" is an open source company dedicated to provide 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
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.