The Penny King's Free and Clear M&A Fund

[thepennyking]

Mudanjiang DongXing Group Signs Agreement With U.S. Public Company; Mudanjiang DongXing Group Shareholders Will Own Majority Of U.S. Public Company Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 17, 2004--Global Access Ventures, an international consulting and venture capital firm, announced today that Mudanjiang DongXing Group, Ltd. has recently entered into an agreement with a U.S. public company, which will result in the DongXing Group, Inc. shareholders owning ninety percent of the shares of the U.S. public company. After the closing, which is subject to various conditions, DongXing Group, Inc. will be a wholly owned subsidiary of the U.S. public company. The management of DongXing Group, Inc. will remain in place with Mr. He Maoxing as its Chairman and General Manager. Mr. He will also assume the additional responsibility as Chairman of the Board of Directors and General Manager of the U.S. public company.

"Becoming a public company in the U.S. is a very prestigious and major step for DongXing", states Mr. He, chairman of DongXing Group.

"I believe this structure will provide opportunities in the U.S. as well as other countries around the world." Global Access Ventures is an international consulting and venture capital firm located in New York, New York. Consulting services include mergers and acquisitions, reverse mergers, and capital investments.