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04/29/2008

Sino Fibre Completes Strategic Private Placement To Establish Chinese Barter Exchange

Sino Fibre Communications (OTCBB:SFBE), an internet services provider in China, announced that it has completed a private placement of 1,671,416 units at a price of $0.31 per unit for gross proceeds of approximately $518,140, each unit consisting of one share of common stock of Sino Fibre and one share purchase warrant.

The proceeds of the unit offering will be used to complete Sino Fibre�s joint venture with CASME as previously announced.

The joint venture with CASME is to establish an official Chinese government-sanctioned barter exchange platform to process business to business (B-to-B) transactions among the 4.5 million medium and small private business enterprises currently under the membership of CASME and with the international barter exchange floor.

Sino Fibre is to invest $6 million (subject to financing) to own 85% and will manage the joint venture company business, CASME is to bring in Chinese central government sanction, assistance and support, as well as its business members and will own the remaining 15% of the joint venture.

According to Mr. Gao Guang Yu, the president of China Business Online Co. (Sino Fibre�s joint venture company with CASME), �By leveraging the strong government support and having the 4.5 million business members in our initial customer pool, Sino Fibre aims to build out the barter exchange platform and become one of the top B-to-B and barter business provider in China and in the world.�

Daniel Mckinney, CEO of Sino Fibre, said, �This is an amazing historical opportunity for us to partner directly with the Chinese government in developing and maximizing the potential of their internal trading and commerce, as well as to the rest of the world. To give our shareholders a point of reference of the value we are creating, Alibaba (internet services provider) raised $1.5 billion in their November 2007 IPO, and has 27 million (C-to-C and B-to-C) registered members worldwide.�

For more information about Sino Fibre Communications go to www.sinofibre.com.


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