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Microcap & Penny Stocks : Asia Fiber (AFBR)

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To: Plato who started this subject7/14/2001 8:12:09 AM
From: Plato   of 6
 
Yesterday's PR inside:

Asia Fiber Holdings Limited Unveils Company Web Site at www.asiafiberholdings.com
Public Encouraged to Visit Asia Fiber Holdings Limited on the World Wide Web
LOS ANGELES--(BUSINESS WIRE)--July 13, 2001--Asia Fiber Holdings Limited (OTCBB:AFBR - news) today announced that it has launched its official company Web site that can be viewed on the World Wide Web at www.asiafiberholdings.com.

The Company's Web site includes a comprehensive overview of Asia Fiber Holdings Limited. The easy-to-navigate site supplies the public with significant information respecting the Company's history, structure, operations, facilities, products, management and goals.

Additionally, the Company's Web site provides links to its SEC filings, Press Releases and stock market quotes. The Company encourages the public to visit Asia Fiber Holdings Limited via the World Wide Web at www.asiafiberholdings.com.

Ching Lung Po, chairman of Asia Fiber Holdings Limited, stated, ``The launching of our presence on the World Wide Web signifies that we have reached a principal milestone in achieving our goal to thoroughly educate the public about Asia Fiber Holdings Limited.''

Ching Lung Po added, ``The Company is committed to a successful market awareness campaign and expects its Web site to serve as a medium which enables the public to have a direct connection to the company.''

About the Company

Asia Fiber Holdings Limited (OTCBB:AFBR - news), a Delaware corporation, is the controlling shareholder of an operating company based in the People's Republic of China (PRC), which manufactures and distributes polyester fiber for use in the apparel and textile industries. Its applications include everything from socks, leisure-wear and lingerie to carpet pile, tire cord and seat belts.

For the calendar year ended Dec. 31, 2000, the Company's auditors, Ernst & Young, reported that Asia Fiber Holdings Limited generated sales of US$65,093,000 and retained a net income of US$3,754,000, which translates into US$0.15 earnings per share in 2000.

Form 4 Filing

Ching Lung Po, chairman of Asia Fiber Holdings Limited, is also 70% owner of Megastone Development Limited. On June 12, 2001, Necton Services Limited purchased from Megastone Development Limited, in an affiliate-related transaction, 560,000 shares of restricted stock of Asia Fiber Holdings at US$1.60 per share. The shares purchased by Necton Services Limited are restricted pursuant to Rule 144 of the Securities Act of 1933, beginning on June 12, 2001.

Statements made in this news release concerning predictions of performance and the Company's plans and objectives are not historic facts and constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve important risks and uncertainties that may cause results to differ materially from those set forth in this news release. All forward-looking statements are subject to the successful completion of actions described in the news release. Readers should carefully review the Company and publicly available filings thoroughly with their registered investment advisor or registered broker.

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Contact:

Asia Fiber Holdings Limited
Bernard Chan, 852-2882-7390
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