SOYO Denies Published Report of Takeover by PC Chips
 

In follow-up to http://www.madshrimps.be/forums/show...&threadid=6943

ONTARIO, Calif.--(BUSINESS WIRE)--Aug. 10, 2004--SOYO Group, Inc. (OTCBB:SOYO), a distributor of motherboards, computer peripheral, barebone systems and wireless networking products, today announced that a news report, which appeared in the publication DigiTimes on August 2, 2004 claiming SOYO was taken over by investors representing "Lung Teng" Electronics, a member of the PC Chips Group of China, is false.

SOYO Group, Inc., headquartered in Ontario, said the story is erroneous and assures its reseller partners, distributors and customers that the business operations of SOYO Group, Inc. is unchanged.

The quality of SOYO products and services, and the use of "SOYO" brand name now and in the future are not affected, according to SOYO President Ming Chok.

SOYO Group, Inc. became a separate company from SOYO Computer, Inc. in 2002 and is presently traded under the symbol OTCBB:SOYO.

"It is clearly shown in our public announcements that SOYO Group, Inc. is a public company with SOYO Computer, Inc. as a preferred stock shareholder and one of the suppliers," Chok said.

SOYO Group, Inc. owns and has the exclusive right to use the brand name of "SOYO." The brand name of "SOYO" will not be taken over by any third party, according to SOYO.

"It is our policy to provide high performance products and high quality products to our customers and this spirit will continue indefinitely. The management of SOYO Group, Inc. confirms that there will be no change to its existing products profile, the quality and services provided, the distribution channels, existing customer relationships and its business strategy," SOYO's management team said in a prepared statement.

About SOYO:

Headquartered in Ontario, California, SOYO Group, Inc. (OTCBB:SOYO) sells its products through a select group of retailers, e-tailers, distributors, system integrators, and VARs worldwide. SOYO's Brazil office takes charge of local sales activities and RMA logistics to better service the Latin American customers. For more information on the company, please call 909-292-2500. Further information on SOYO products can be found online at http://www.soyousa.com. SOYO Group, Inc. is a publicly traded company on the OTC Exchange under the symbol OTCBB:SOYO.

This information contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.

Third party statements contained herein and information contained on any third party website are not endorsed by or adopted by SOYO, nor has their accuracy been verified by SOYO.