C Y Foundation Tournament Update
* * * * *
China Youth Electronic Tournament (CYET) Tournament Platform
Draws Paying Players in Wuxi
Daily Player Growth Is Over 50%
(22 November 2007, Hong Kong) — C Y Foundation Group Limited (SEHK:1182) (“C Y Foundation” or the “Company”), the interactive media entertainment company focused on providing quality entertainment across China, is delighted to announce the tournament KPI results from its first major tournament held in Wuxi.
This is the first player update of what will become regular monthly updates as part of C Y Foundation’s commitment to keeping the market fully informed of its progress. The next update will be on December 20.
The tournament of popular Asian card game Doudizhu (kick out the landlord) was launched on October 27 2007 and attracted over 17,000 sign ups in its first three weeks. The tournament was strictly a play for free tournament up until 12 November 2007 following which there have been 1,600 paying players paying entry fees of 10rmb. The number of paying players has shown a daily growth rate of over 50% since 12 November.
Using Chinese government approved software, the CYET tournament was launched in over 230 internet cafes.
C Y Foundation will continue to roll out this tournament to five other cities over the next four months including Zhengzhou, Chengdu, Guangzhou, Wuhan and Beijing. The six city tournament will culminate with a 1 million rmb final tournament in Shanghai at the end of April next year. In addition to the April final, the local Wuxi tournament is holding a final tournament on December 1 with a car as a first prize plus computers and cash prizes to runner ups.
Kar Loon Sneah, CEO of C Y Foundation, commented:“I am delighted to announce the first of C Y Foundation’s tournament updates which show encouraging level of player uptake. What is particularly exciting is the high level of paying player growth since 12 November 2007. We look forward to the roll out of this tournament to the five other city’s over the coming months.”
－End－
C Y Foundation Group Limited
C Y Foundation is an interactive media entertainment company focused on providing quality entertainment across China. It is the only company dedicated to organizing and running P2P tournaments for prizes throughout China. The Group will provide "green" Internet cafés in China and a national electronic tournament platform to develop the online tournament gaming market. The Group will lead this charge with its flagship entertainment centers and through its PRC vehicle subsidiary, C Y Foundation Culture Company Limited, and its strategic partner, Network Media Center of the Central Committee of the Communist Youth League of China.
For more information:
Strategic Financial Relations Limited
Esther Chan Tel: (852) 2864 4825 Email: esther.chan@sprg.com.hk
Mandy Go Tel: (852) 2864 4812 Email: mandy.go@sprg.com.hk
Brenda Liu Tel: (852) 2864 4851 Email: brenda.liu@sprg.com.hk
Fax:(852) 2804 2789 / (852) 2527 1196