PayEase Ltd named a Red Herring 100 Asia Company!

Award recognizes 100 private companies in Asia that drive the technology industry’s future

PayEase Ltd, a payment service company, announced it has been named one of the Red Herring 100 Private Company of Asia 2006. The award recognizes the most promising and innovative private companies in Asia with high growth potential.

“We are honored to be recognized by Red Herring with this prestigious award,” said Mr. Frederick Sum, CEO of PayEase. ‘Though PayEase has established a leading position in the industry, we continue to strive for new innovations and better persistent quality service to ensure customer confidence and satisfaction.”

Red Herring’s lists of private companies are an important part of the magazine’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work. Red Herring launched the Red Herring 100 Asia program in recognition of the enormous growth rate, unique entrepreneurial and venture capitalist community and highly innovative companies emerging in the Asian market. Red Herring’s editorial staff evaluated more than 600 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy and dedication to research and development.

Red Herring 100 Asia companies have been invited to present their business model and strategy at a two-day Red Herring Asia Top 100 Conference in Hong Kong, China on August 28-30, 2006

About PayEase Ltd

PayEase is the foremost Payment Service Provider in China, providing comprehensive payment services that include: mobile payments via SMS, internet banking, call centers and Point of Sales (POS) terminals. With offices across the nation, we continue to look for enhancement opportunities to ensure our leadership in the industry. PayEase is delegated to provide a user friendly, cost-effective, and secured integrated payment platform. PayEase has the most extensive banking network in China, in alliance with 23 major banks which accounts for 90% of the Chinese banking industry, supporting 63 types of credit and debit cards plus international cards including: Master, Visa, JCB, and American Express.

About Red Herring

Red Herring is the weekly magazine, technology entrepreneurs, investors and industry observers read to stay ahead of the curve and to be better informed about the global marketplace. Red Herring covers technology, innovation, financial strategies, important personalities and trends that are transforming the world of business with unique insight, opinion and forward-looking analysis. Readers turn to Red Herring for knowledge to make strategic decisions, build companies and create a competitive advantage for their businesses. Red Herring articles, blogs, research and event information can be found online at www.redherring.com.