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9 January 2009

PAQ International Holdings Limited ('PAQ')

Joint Venture Agreement with Fabazio re: footballers image rights

PAQ International Holdings Limited ('PAQ' or 'the Company') is a manufacturer and distributor of protective bags for mobile phones, laptops and other electrical devices, which are manufactured in the People's Republic of China ('PRC') and distributed in the PRC and in many other international locations. 

PAQ is pleased to announce that it has entered into a joint venture agreement ('JV') with Fobazo (www.fobazo.com ), a company that specialises in the exclusive image and signature rights ('Rights') for a host of the biggest names in international soccer. The exclusive Rights effectively allow the JV to carry the image of the footballer and their signature across a range of products including PAQ merchandise. 

PAQ and Fobazo will create a new JV company in which PAQ will have a majority holding of 51% in return for manufacturing, distributing and marketing the products bearing the exclusive Rights. The JV will initially seek to distribute the PAQ merchandise carrying the Rights to the Greater China market given the current focus of PAQ in those markets. However, the JV is entitled to distribute the exclusive Rights to unlimited markets around the world. PAQ is currently finalising due diligence with regard to the exclusive Rights.

The JV includes Rights to the following football players:  Ryan Miguel Guno ('Babel'), Cícero João de Cézare ('Cicinho'), Roberto ('Mancini'), Luís Fabiano Clemente, Christian Bager Poulsen, ('Ronaldo') Luis Nazário de Lima, Hugo Morais, Rafael van der Vaart, Wensley Sneijder, John Gijsbert Alan Heitinga, Clarence ('Seedorf'), Robson de Souza ('Robinho'), Anderson Luis de Souza ('Deco'), Anderson Luís de Abreu Oliveira, and Samuel ('Eto'o').

Relocation of Factory

Meanwhile, PAQ is relocating its factory in Shenzhen Baoan to Foshan Guangdong, as part of the reorganization exercise of the production facilities. The relocation is aimed at better management of the production facilities and supply chain as the new location will be closer to major material suppliers and OEM subcontractors. 

The new location is logistically well positioned, which will enable the Company to supply bags and computer accessories to China and help deliver its strategic aim of developing China's domestic market in 2009.  

Kelvin Yau, Chief Executive, comments:

'I am delighted that we have been able to form a joint venture which gives us access to so many of the top names in world soccer, which fits in well with our aim to build PAQ as a brand-orientated and higher value-added businesses, and not just a manufacturing business.' 

ENQUIRIES:

PAQ International Holdings                  Tel: +852 9135 1811

Kelvin Yau, Chief Executive                         www.paq-intl.com

Dennis Ow

Zimmerman Adams                                Tel: +44 (0) 20 7060 1760      

Dominique Doussot/Jonathan Evans            www.zimmint.com

College Hill                                            Tel: +44 (0) 20 7457 2020

Gareth David

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