Five and Under

[bagheera]

Patsy, have you seen this? Bought this at .50 , so I am still holding. Should have sold it at 1.70 in hindsight though and bought back.Oh well..
Asia Fiber Holdings Forecasts China's Entry into World Trade Organization to Result in Significant Increase in Sales Revenue for 2002


LOS ANGELES--(BUSINESS WIRE)--Oct. 15, 2001--

Company Successfully Reduces Production Costs

by Improving Production Efficiency

Asia Fiber Holdings Limited (OTCBB:AFBR) today announced that the Company expects to realize a minimum 10% increase in sales revenue in year 2002 (as compared to year 2001) as a direct result of China's highly anticipated entry into the World Trade Organization (WTO) at the end of this year. Following China's entry into the WTO, all developing member countries of the WTO, including the United States of America and the European countries, will effectively lift their import quotas of textile and garment related products from China. The Company expects that this elimination of import quotas will yield an extraordinary ongoing increase in the exports of textile and garment related products from China to other countries and, as a result, the Company should experience a significant increase in revenue.

Ching Lung Po, Chairman of Asia Fiber Holdings Limited stated, "We believe that following China's entry into the World Trade Organization, which is expected to occur by the end of this year, exports of textile related products will experience a significant increase and, as a result, the needs for synthetic yarns and filament produced by Asia Fiber Holdings Limited will increase tremendously." Po added, "The Company expects to experience a consistent increase of sales orders from its existing clients as China's entry into the World Trade Organization approaches and following entry, we anticipate a significant increase in demand for our products from both existing and new customers."

Additionally, the Company proudly announced today that as a result of its continuous efforts in the areas of research and development, it has successfully improved its production processes, thereby improving production efficiency by at least one-percent and reducing production costs by at least one-half of one percent. The Company anticipates that its success in improving production efficiency and reducing production costs will result in a larger profit-margin and an increase in net income.

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.

CONTACT:

Asia Fiber Holdings Ltd.