"
Shenzhen is one of the most prosperous and modern cities in China. In addition, the
company is continuing to identify sources of additional financing to permit
the expansion of nationwide operations in the China market, which currently
has an estimated 735 million debit cards in use, with annual growth of an
additional 60 million cards . As the epicenter of the heavily industrialized Pearl River
Delta, the MTR system experiences heavy traffic with a population of
10 million inhabitants within its service area."

About China Media1 Corp.

river consulates

KKR successfully used this same approach in developing
its European business, after opening an office in London in 1998, and is now
one of the leading private equity firms in Europe . We
continue to cooperate with our China partners and related parties to develop
China-wide processing systems and related applications and services.

river macau

KKR intends to pursue opportunities over the long term in both emerging
and well-established economies throughout the Asia Pacific region, ranging
from manufacturing, sourcing of products and joint venture opportunities for
its portfolio companies , to traditional buyout transactions in more mature
economies, cross-border acquisitions in partnership with Asian companies and
selective growth equity investments in emerging markets.
Having spent considerable time studying the role that private equity can
play over the long term in the Asian markets, KKR is building its Asian
operations by appointing veteran KKR executives who will develop its regional
presence by hiring experienced Asian nationals. At the same time, the new
offices will benefit from being fully integrated with KKR as one global
private equity firm. For more information ,
please visit http://www. For more information,
visit http://www.

asia regarding

Kravis, Founding Member of
KKR. "As the role of private equity in Asia grows and is further defined, KKR
will carefully assess the landscape and determine the most appropriate ways to
be a leading participant in that process .

About KKR
KKR is one of the world's oldest and most experienced private equity firms
specializing in management buyouts, with offices in New York, Menlo Park,
California and London . The city's GDP per capita reached
US$5,604 in 2002, making Shenzhen one of the most prosperous cities in China. Systems, hardware, and personnel are now
in place as Asia Pay commences delivering service to clients. Guangzhou is the commercial
and political hub of Southern China enjoying close proximity to Hong
Kong. The
Company owns and operates specialty media assets throughout Southern
China that include physical advertising space and advertising
contracts with top-tier brand names and Multi -National corporations.
China Media1 has focused on providing its clients superior
advertising locations based on viewership, exclusivity and uniqueness
through the use of its illuminated scrolling poster signs throughout
its locations.

regarding brazil

HONG KONG and TOKYO and NEW YORK, Kohlberg Kravis
Roberts + Co. "After 29
years of successful private equity investing in over 130 transactions, KKR has
the institutional expertise and, equally important, the institutional culture,
to expand in a deliberate and meaningful way into an exciting new market.
Shenzhen became China's first Special Economic Zone (SEZ) in 1980.
The Guangzhou MTR is a metropolitan subway system with 2 main
lines and a third one scheduled for later this year., headquartered in Irvine, California, is an
owner and operator of premier Chinese advertising media assets.

offices hong

Roberts, Founding Member of KKR. SEATTLE, and HONG KONG , Asia Payment
Systems, Inc. We are pleased to be part of the dynamic
economic growth and modernization for which Shenzhen is known worldwide.gov.

China Media1 Receives Contract For Subway Location

Their experienced sales team and corporate
connections in Guangzhou will allow them to place ads on all our
properties.

China Media1 Corp.

brazil offices

Joining him will be Justin Reizes, a Principal from KKR 's London
office.

Contact:

Hong Kong
Gavin Anderson + Company Tel: +852-2523-7189
Richard Barton Mobile: +852-9308-1056
Ilja Maynard -Gregory

Tokyo
Gavin Anderson + Company Tel: +81-3-5404-0640
Deborah Hayden Mobile: +81-90-6515-3962

New York
Kekst and Company Tel: +212-521-4800
Molly Morse
David Lilly

asia-pay.com. The Company advertising locations include the
Guangzhou New Baiyun International Airport and the Guangzhou MTR (12
Subway Stations).

hong general

kkr.
According to Shenzhen Government Online (http://www.sz. There are 12
major stations along the downtown core. Hanxiong (Adrian) Cai, China Media1 President commented, "We
welcome Dongjun Plaza to our subway advertising project.

kong government

Matt Mecke, President + CEO of Asia Pay, announced, "We are very pleased
to be able to announce today the approval of our Representative Office License
by the Shenzhen Municipal Government.chinamedia1corp. Forward-looking statements involve
risks and uncertainties including, but not limited to, economic and
political factors, technological developments, regulatory matters and
increased competition.

regarding consulate

Together, they will spearhead KKR's efforts in the region. Over the past 29 years, KKR has invested in more than 130
transactions with a total value of over US$157 billion. The primary focus of Asia Pay's
business development efforts is the rapidly growing Chinese credit card
market. Asia Pay is developing a credit
card processing network that provides clearing services to merchants, oil
companies, and financial Institutions in China and in related markets
elsewhere in Asia.com

Investor Relations:

Sussex Avenue Partners, Inc.----China Media1 Corp.com

Forward Looking Statements

Any forward-looking statement in this press release is made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. The Company disclaims any obligation to update
any such factors or to publicly announce results of any revisions to
the forward-looking statements contained herein to reflect future
events or developments.

kong asia

"The Asian markets will have a pivotal global influence in the coming
decades and will offer significant investment opportunities for both KKR and
our existing portfolio companies," said Henry R.com.

Asia Pay Gains License Approval from Shenzhen Government

Asia Pay aims to become a leading China-wide provider of world-class
third-party processing services to bankcard-accepting merchants and card
issuers.

About Asia Payment Systems, Inc.
(OTCBB:CMDA) an owner and operator of premier Chinese advertising
media assets, is pleased to announce that the Company's Guangzhou MTR
(Subway System) Pillar Advertising Project has received a contract
from the Dongjun Plaza, a Class A office building in Guangzhou. China Media1 is the
exclusive provider of pillar wrap advertising (5x16 feet) for the 12
major stations. Chi Shang Ling Yue is an ideal partner
for our company.

brazilian kong

KKR Announces Plans to Open Offices in Hong Kong and Tokyo

"Our
initial focus will be to build a world-class team of investment and operating
professionals with direct experience in a range of Asian markets, including
Japan, China and Korea," said Bae.

Asia Pay is a credit card processing services company that provides a
growing network of credit card clearing services to merchants and financial
institutions in China and other markets.ereleases .
Mr.

general embassies

1-866-877-APAY
ir@asia-pay.

The Company's website is www.

macau kong

"
"This initiative is a significant step in positioning KKR as a truly
global private equity firm and will increase our competitiveness on a
worldwide basis," said George R."
Joseph Y. Bae, a Managing Director based in KKR's New York office, will
lead the Firm's operations in Asia , moving to Hong Kong at the end of the
year. In the past
25 years, Shenzhen has grown from a small border town to a modern
manufacturing center and international port, with a permanent resident
population of approximately 5 million. (http://www.
1-866-878-7739
News@sussexavenuepartners.com

This release was issued through eReleases(TM).

Business Editors

IRVINE, Calif . Chi Shang
Ling Yue, our chief advertising agent for the Airport Project
introduced this Company to us.

consulate hong

(KKR), a leading private equity firm, announced today that it
plans to establish offices in Hong Kong and Tokyo, the Firm's first offices in
Asia. Throughout its history, KKR has brought a long-term
investment approach to its portfolio companies, focusing on working in
partnership with management teams to invest for future competitiveness and
growth.cn), the city is
ranked fourth in GDP, third in revenue among China's large and medium-sized
cities, second in container-handling capacity, and first for seven consecutive
years in China's import and export volumes.

Contact:

Matt Mecke
President + CEO
Asia Payment Systems, Inc.

brazilian consulate

(OTC Bulletin Board: APYM) announced today that the Shenzhen
Municipal Government has approved a Representative Office License for Asia
Payment Systems. We feel this approval is an important
step in Asia Pay 's becoming the premier payment services company in China. This
Shenzhen Representative Office approval advances Asia Pay's plans to provide
leading-edge payment processing applications and services to our customers in
China and throughout the region.com)
Asia Pay is a USA public company with offices in: Seattle, Washington;
Beijing and Shenzhen, China; and Hong Kong.
Asia Pay's mission is to be a national provider of world-class third-party
processing services in China to bankcard -accepting merchants, issuers of bank
credit cards, issuers of petroleum station retail cards, and issuers of
merchandise and other retail cards.