25 February 2009

PAQ International Holdings Limited ('PAQ')

Framework Agreement for a new Joint Venture with Fobazo

PAQ has entered into a framework agreement for a new Joint Venture ('New JV') arrangement with Fobazo (www.fobazo.com). PAQ has created a new company called PAQ Concept Limited (BVI) to hold their 51% interest in the New JV. The New JV is subject to finalization and due diligence.

The New JV will focus on the exclusive media and events rights ('Rights')for all existing and future signed football players that Fobazo currently represent including 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'). 

The Rights extend to Mainland China, Hong Kong, and Taiwan ('Greater China') markets. This will entitle the New JV to access soccer players for promotional and sponsorship events in Greater China. Moreover,  the New JV will own the Chinese version of Fobazo.com ( www.fobazo.com ) which is intended to be the exclusive official website for all signed players. 

The New JV will compliment the Joint Venture announced 9 January 2009 effectively allowing PAQ the exclusive rights for production, distribution and retail of the image of the footballers and their signature across a range of products including PAQ merchandise.  

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