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Pay88, Inc. (PAYI.OB) and Alibaba.com Ltd. Announce New Sales Agreement

QualityStocks (October 27th, 2009) Writes:

Pay88, Inc. reported yesterday that its wholly-owned subsidiary Qianbao Technology will act as a distributor for Alibaba.com Limited (HKSE: 1688.HK). Pay88 already has an established network of users in Southwestern China where the distribution for Alibaba will occur.

Pay88, Inc. is a rapidly growing digital technology company and the leading reseller of internet game time in China. Alibaba.com Limited (HKSE: 1688.HK) is the world’s largest marketplace for global trade and the leader in business-to-business (B2B) e-commerce. The agreement will enable Pay88 to expand products in its current distribution pipeline while opening new geographic markets up to Alibaba.

Guo Fan, Chairman and President of Pay88, commented on the new agreement saying, “Pay88’s diverse distribution channels and strong presence in Chongqing and the southwest regions of China offer a unique opportunity to utilize the strengths of both companies.”

Tao Fan, COO of Pay88, added, “As a result of this new relationship, Qianbao Technology will

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