BEIJING, China, May 27 /PRNewswire-FirstCall/ -- Asiana Corporation (ASIC) is pleased to announce that it has signed and completed the online bank card payment service agreement with Shanghai Bank Union, a Chinese bank. The online service will be made available to Chinese users on the company operating website http://www.iexpay.com/ Mr. Robert Xu, Asiana's CEO, said, "We are very pleased with this new alliance and we look forward to beginning implementation of the system at the earliest opportunity. We are also looking to develop a brandable/white label e-wallet and card solution for a complete China based remittance business. We have been received by both the Chinese government and the business community here with open arms on this project for iexpay." Mr. Yves Yang of Construction Bank of China said, "In the Province of Jianxi and the home city Nanchang where iexpay and Asiana is headquartered we see many businesses and consumers using utilizing the services of Asiana". Mr. Xu also added, "We wish to thank our loyal shareholders for their patience while we maintained news silence over the past 6 or so weeks, on Asiana activities. We needed this time out to complete the deal and to advance our corporate filings towards becoming a solicited issuer. So far everything is nicely falling in its place. With this transaction now completed we are told our 211 filings and approval should follow very soon. The company will issue follow up reports on revenue guidance, and other many back logged events shortly." About Asiana Corporation Asiana is a publicly traded Company on the Pink Sheets. It is in the process of developing a closed loop payment system for the Chinese market. Closed loop payments involve debit cards and/or online payment services backed by a member bank together with a participating merchant in order for the end user to use the system. In the short term, the company is focusing on applying its technology on fundamental e-commerce applications that can easily be built as a front end to the existing electronic funds processing capabilities that the Company already has in place. Safe Harbour Statement Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbour' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, acceptance of Asiana Corporation products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Asiana Corporation's periodic reports filed with the regulatory authorities. DATASOURCE: ASIANA Corporation CONTACT: http://www.asianacorporation.com/

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